Bayshore's Healthy Tomorrows

Bayshore's Healthy Tomorrows


Won’t you please consider planning a gift for your hospital in your will?

Charitable Life Insurance

A gift of life insurance is a simple and easy way to leave a legacy of quality hospital care for future generations through the purchase of new medical and diagnostic equipment.

How You Benefit

Simple and Convenient: Your insurance professional can advise you on the type of policy and options best suited to your needs.

Inexpensive: An opportunity to make a larger gift than you might otherwise be able to, without depleting your assets now or later, for your Estate.

Save Taxes: Enjoy immediate tax relief with charitable tax receipts for future premiums OR tax relief for your Estate for the full policy proceeds upon your death.

Preserve Your Estate: The value of your Estate is not diminished because of the gift.

No Probate, Legal or Trustee Fees: Life insurance is not subject to probate or delays in settlement. The full proceeds are payable directly to the hospital foundation upon your death.

Peace of Mind: Plan, arrange and announce your gift, knowing it will occur just as planned. Your hospital has no involvement in your Estate. Your gift cannot be contested by other heirs.

Recognition: Your hospital foundation can thank and recognize you now for your future gift. You may also remain anonymous if that is your wish.

There are a number of ways to use life insurance to make a gift:

Existing Policy

Have the ownership and beneficiary designation of an existing live insurance policy transferred to the hospital foundation. This designation cannot be changed. A charitable tax receipt will be issued for the value of the policy at the time of transfer. Future premium payments also qualify for charitable tax receipts.

New Policy

Purchase a new life insurance policy to give. Name the hospital foundation as both owner and beneficiary. You continue to pay the premiums and receive a charitable tax receipt for these payments. The ownership and beneficiary designations cannot be changed.

Beneficiary Only

Name your hospital foundation as the beneficiary of a new or existing policy and retain
ownership of it. You may change the beneficiary designation at any time in the future. In this case your Estate will receive a charitable receipt for the full amount of the policy
proceeds upon your death. This can help offset income taxes payable by your Estate.

 

listen to this person's experience
Pat Cavan


Bayshore Broadcasting Corporation
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