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Donation of an existing life insurance policy

An economical way of making a meaningful contribution

“I opted to donate a policy I signed up for when my career was just taking off. There’s no effect on my current lifestyle and it will have almost no impact on what I’m leaving to my family in my will.”

Yvan Rondeau, HEC Montréal 1973

Do you have a life insurance policy but no longer need the protection it affords? Why not donate it to the HEC Montréal Foundation, rather than simply cancelling it, and take advantage of the corresponding tax savings, at little or no additional cost to you?

  • Your life insurance advisor will take care of the paperwork required to transfer ownership of the policy to the HEC Montréal Foundation and name it as the beneficiary.
  • When you transfer an existing policy to the HEC Montréal Foundation and designate it as the beneficiary, you will be issued a tax receipt for the fair market value. This value is established by an independent actuary based on a number of factors.
  • If the policy is not fully paid for and you continue to pay the premiums after the transfer, you will also receive an annual tax receipt for these amounts. Note, however, that you need to check whether the cash surrender value exceeds the adjusted cost base of the policy. This could have an impact on your taxable income.

We’re here for you every step of the way!

Badreddine Maamar
HEC Montréal 2007
Director – Major and Planned Gifts, and Assistant Director
Member of CAGP
Member of APFF

514 340-7186

Humeyra A. Karsli
HEC Montréal 2010
Senior Advisor – Philanthropy and International Alumni Relations
Member of AFP

514 340-7735

The HEC Montréal Foundation’s CRA registration number is 118924158 RR0001.

Alumni + Foundation > Give now > Planned giving > Gifts of life insurance > Donation of an existing life insurance policy