There are various methods by which a life insurance policy may be contributed to the ZO. A donor may:
A. Assign a paid-up policy;
B. Assign a life insurance policy on which premiums remain to be paid; or
C. Name the Zion Orphanage as a primary or successor beneficiary of the proceeds.
When ownership is assigned to the Zion Orphanage, the donor is entitled to a tax-deductible receipt for the net cash value of the policy. In addition, all future premiums paid for by the donor will be tax-deduactible gifts to the Zion Orphanage.
Include in your Will all or part of your RRSP and your RRIF to be bequeathed to the Zion Orphanage.