A gift of life insurance allows you to make a large gift at an affordable cost, while enjoying tax savings both today and in the future. For example, your annual premiums for a policy that designates Bishop's as the owner and irrevocable beneficiary are eligible for a tax receipt.
You may donate an existing policy or purchase a new one. Alternatively, you may use your tax savings from a gift (for example, a gift of securities) to purchase an insurance policy in order to replace the value in your estate.
William DCL '87 (Chancellor 1987-95) and Nancy Turner have taken out a life insurance policy naming Bishop's University as the beneficiary to finance a Chair in Christianity.
“Nancy and I are pleased to have the opportunity to make a real difference at Bishop's. We are able to help the University fund a faculty position and at the same time ensure that students will continue to benefit from the study of Christianity.”
