Gifts Of Life Insurance

You believe that all women and girls deserve to have access to their basic rights and live free of violence and abuse. You also believe that young people in developing countries deserve a better access to capacity building, economic opportunities and leadership. You can help us to make it possible. You can be an agent for change by leaving a legacy gift to Crossroads International.

How to start

A gift of life insurance may be appealing if you are under 50 and in good health, would like to make a large gift for a relatively small financial outlay and your family no longer requires the life insurance proceeds.

Crossroads International strongly recommends that you seek professional advice to ensure your financial goals are considered, your tax situation reviewed, and your planned gift tailored to your circumstances.

Benefits of Gifts of Life Insurance

  • Simple and 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.
  • Leverage: A low-cost way to make a larger gift than you might otherwise be able to, without depleting your current assets now or your estate later. The value of your policy will be far more than the premiums you pay.
  • Flexibility: A gift of life insurance can produce tax relief annually for the premiums paid or a tax credit for your estate in the year of your death.  You and your financial advisor can determine how to structure your gift to save tax for you during your lifetime or for your estate. During your lifetime, the donation limit is 75 percent of net income, and increases to 100 percent of your income in the year of death.  Any excess tax credits generated in the year of your death can be carried back one year and applied to recover a portion of that year’s tax to a maximum of 100 percent of income for the previous year.
  • Eliminates Probate, Legal & Executor Fees: Life insurance is not subject to probate costs or delays in settlement.
  • Control: Life insurance is not a matter of public record and allows you to remain anonymous. Unlike a Will, the gift cannot be contested.
  • Peace of Mind: You can arrange the gift and you will know that it will occur just as you planned.  After a quick claim process, the proceeds are paid directly to Crossroads International.
  • Estate Preservation: Your estate to your family is not diminished because of life insurance, but its very nature creates an additional, separate estate.
  • Recognition: Your gift can be honoured during your lifetime.
  • Satisfaction: Your gift is made for personal reasons; you can create a lasting memorial for you, your family or anyone you may wish to honour.  Of course, you will also continue to be part of solutions that fundamentally improve people’s lives by reducing poverty and advancing women’s and girls’ rights around the world.

Download our Guide to Gifts of Life Insurance or contact our Resource Development Manager, Palash Bagchi, if you need further information.