Insurance Donating a life insurance policy can be a very attractive method of charitable giving.
Transfer ownership of an existing policy to the University of Saskatchewan and also designate it as the policy's beneficiary. In this case the University will issue a charitable receipt for the policy's cash surrender value, plus any accumulated dividends and interest. If, after gifting the policy, the donor chooses to keep it in force, any additional premiums paid are treated as gifts to the University and receive charitable receipts. Purchase a new policy and designate the University of Saskatchewan as its Owner and Beneficiary. Income tax receipts will be issued for the full amount of the premiums paid.