What happens when I pass away if I donate my life insurance to charity?

Here’s what happens when you pass away and leave a portion or all of your life insurance to a registered Canadian charity:

The Charity Receives Your Gift: The charity you chose gets their share of your life insurance payout—tax-free!
Your Family Gets a Tax Break: Your family receives a tax receipt for half of the amount you donated. They can use this to offset any taxes on the rest of your estate.
Leave a Lasting Legacy: It’s a meaningful way to support a cause you care about and leave something positive behind for your family.

Want to explore your options for charitable giving with life insurance? Get in touch – we’re here to help!

Can I donate my life Insurance policy to charity?

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When you pass away, your life insurance policy can provide more than just financial support to your loved ones. It can also be a meaningful

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You bet! Just like you can donate your entire policy, you can also choose to give a percentage of the payout to your favourite cause.

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Donating your life insurance to a registered Canadian charity is a win-win. Not only are you supporting a cause you care about, but you can

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You can support any registered Canadian charity with your life insurance donation.

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