Make helping cancer patients part of your estate plan.
A gift of life insurance is an impactful way to drive cancer research and enhance patient care with a modest cost upfront. By naming The Princess Margaret Cancer Foundation as an owner or beneficiary, you create a legacy that supports life‑saving discoveries for years to come.
Gifts of life insurance often fall outside of an estate, and are not subject to fees such as probate, allowing for a faster distribution to your beneficiaries. Many donors may choose to donate a paid-up or existing policy that they no longer need for their family’s financial security, or alternatively, purchase a new policy to fulfill their philanthropic goals.
Each option will have different tax consequences depending on your personal circumstances and may make sense at different stages of life. Please consult your advisor to assess which option is best for you.
Naming a Beneficiary
- Maintaining full flexibility with a revocable beneficiary designation
- Faster access to funds, as insurance proceeds are typically paid directly to the beneficiary
- Reduced administrative costs, since proceeds generally bypass probate and related fees such as estate and trustee costs
- A charitable tax receipt for your estate for the full proceeds of your policy
When you designate The Princess Margaret Cancer Foundation as the beneficiary of a new or existing policy, you not only help advance world‑leading cancer research – you also provide a meaningful tax advantage for your estate.
Transfer Ownership
Transform your life insurance policy into a powerful gift that supports world‑leading cancer research by passing ownership to The Princess Margaret Cancer Foundation.
There are many benefits to naming us as the owner and beneficiary of a new or existing policy, including:
- Ensuring your gift creates a lasting impact, as the policy becomes irrevocable
- Receiving annual charitable tax receipts for the ongoing premium payments
- Potentially being eligible for a charitable tax receipt for the policy’s fair market value at the time of transfer
- Creating a meaningful legacy today while receiving tax benefits during your lifetime
