Life Insurance

You can provide a meaningful contribution through the gift of life insurance. This cost-effective method of donating to Habitat for Humanity Victoria can create a future gift that is considerably larger than many donors would have been able to make during their lifetime. A gift of life insurance allows you to pay, on average, only three or four cents on the dollar per year for a gift. An immediate cash donation of the same size would mean providing the full dollar amount.

There are many ways in which you can use life insurance as a future gift to Habitat Victoria. Giving a new or existing insurance policy allows even people of modest means to make a sizable gift with only a small annual or monthly payment. In addition, there is a tax credit available, providing immediate tax relief. You will not reduce your family's share of your assets by this form of giving because you provide the funds through premium payments out of your current income.

When giving a gift of life insurance, you may:
· Assign as irrevocable or revocable a paid-up policy to Habitat for Humanity Victoria.
· Assign as irrevocable or revocable a policy on which premiums remain to be paid - you may pay the premium(s) or Habitat for Humanity Victoria will pay the premiums provided you make equivalent contributions for that purpose.
·Name Habitat for Humanity Victoria as a primary or secondary beneficiary.

You can:
· Designate Habitat for Humanity Victoria as the owner and beneficiary of your life insurance policy. We will send you a tax receipt annually for your premium payments.
· Donate a paid-up policy you no longer need. We will send you a tax receipt for the cash value.
· Assign Habitat for Humanity Victoria as the beneficiary only. This gives you the flexibility of changing the beneficiary.

Benefits for leaving a gift of life insurance:

• Convenient – The transaction is simple. Your life insurance specialist can advise you on the type of policy that would best fit your needs, custom design your program and carry through with the necessary paperwork. 

• Inexpensive – A way to make a larger gift than you might otherwise be able to, without depleting your current assets now or your estate later.  

• Leverage – The ultimate value of your policy will be far more than the premiums you pay.  

• Save Taxes – You receive immediate tax relief in the form of charitable tax receipts for the premiums paid.        

• Estate Preservation – Your estate is not diminished because life insurance, by its nature, can create a benefit that resides outside your estate.

• Eliminates Probate, Legal & Executor Fees – Life insurance is not subject to probate costs or delays in settlement. The full proceeds are payable to Habitat for Humanity [Affiliate] at maturity or your passing. 

• Peace of Mind – You can arrange your gift and know it will occur just as planned.   

• Control – Your gift is not a matter of public record so you may remain anonymous.  Unlike a will, your gift cannot be contested. 

• Recognition – Your gift can be honoured during your lifetime, should you wish.     

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For more information on gifts of life insurance to Habitat Victoria please contact info@habitatvictoria.com