While caring for her ailing father, Lorna experienced first-hand the gaps that exist within seniors' health care, particularly for patients with dementia.
There’s a way to have the best of both worlds when considering a planned gift: earn an income now and be confident that your legacy at SFU will thrive. There are two options available to consider here:
Charitable gift annuities
Charitable gift annuities allow you to give a substantial donation to SFU while receiving tax-favourable income. These annuities guarantee you a fixed monthly income for life or a term of years - while designating a portion to SFU as a gift - and provide immediate tax benefits.
Benefits to you
- Allows you to make a significant contribution to the future of SFU, yet still enjoy income from your gift
- Alleviates investment and management worries
- Provides regular payments that can be made yearly, bi-yearly, or monthly
- Gives you a charitable receipt for a portion of your initial gift
- Permits you to name your spouse or other family members as joint beneficiaries, continuing payments for as long as they live
- Allows future gifts to the capital, depending on your trustee
- Lets you convert capital assets to income
Charitable insured annuities
Charitable insured annuities are flexible and tax-efficient gifts that are partnered with life insurance.
Benefits to you
- Guaranteed monthly income
- Opportunity to make a legacy gift that goes beyond your current giving capacity
Here’s how it works
- You purchase a charitable insured annuity, guaranteeing fixed monthly income payments for life and designating SFU as the owner of the insurance policy
- An annuity with a life insurance contract provides an annual tax receipt for the insurance premiums that were paid from the annuity
- Only the income portion is taxable
- SFU receives the face value of the life insurance policy from your estate and would use your gift according to your wishes