Charitable
Giving Through Life Insurance

Charitable Giving Through Life Insurance

By Frank J. Ryan, B. Sc. (Hons), MBA, CEBS®, FDFS™, CFP® Certified Employee Benefits Specialist & Financial Planner.

For many families, supporting the Janeway Children’s Hospital Foundation isn’t just a donation. It’s gratitude, hope, and love woven together. We’ve been so fortunate that our donors have come up with all sorts of ways to raise money for the Janeway Children’s Hospital Foundation over the years, which has allowed us to advance the care of all the children in the province.

Frank Ryan, member of the Janeway Children’s Hospital Foundation Board of Directors, with his wife, Heather, and twins, Maggie and Beth, during their time at the Janeway. Born prematurely, Maggie and Beth received critical care at the Janeway. This experience continues to inspire Frank’s generosity and commitment to supporting children and families across the province.
Frank Ryan, member of the Janeway Children’s Hospital Foundation Board of Directors, with his wife, Heather, and twins, Maggie and Beth, during their time at the Janeway.

There is a meaningful way to give that is often overlooked, misunderstood, or simply unknown. And it is one of the most powerful ways some donors choose to create a lasting impact. The strategy is called giving through charitable life insurance. It a simple idea with a profound result. A modest commitment today can become a transformational gift for children and families in the future.

Why should you consider charitable life insurance giving to the Janeway Children’s Hospital Foundation rather than simply donating cash?

  • It enables you to create a larger gift than you may have thought possible, while often using far less cash during your lifetime,
  • It offers powerful tax credits to use either during your lifetime or upon your estate’s final tax return (depending on the structure)
  • It passes outside your will, so it avoids probate and allows for a faster, private gift.
  • It empowers you to achieve philanthropic goals and leave a lasting legacy for others to follow.

There are many ways to give through life insurance, and it can be done personally, corporately, or through family foundations. If you intend to pursue charitable life insurance giving, we strongly advise working with professionals, including: a Certified Financial Planner, Tax Lawyer, and a Chartered Professional Accountant.

In summary, charitable giving through life insurance means you’re able to give generously, while reducing your tax burden so you’re not taking away from the people you love.

If you don’t know where to start, please contact us at Janeway.foundation@nlhealthservices.ca or call 709-777-4640.

You can learn more about Frank and his family’s Janeway journey here.