A cost-effective method of donating to TCS that can create a future gift that is considerably larger than many donors could make during their lifetime.

Three ways to donate life insurance:

  1. Donate an existing policy: receive a charitable tax receipt for the net cash surrender value and any premiums paid after the donation date.
  2. Donate a new policy: receive a charitable tax receipt for any premiums paid after the donation date.
  3. Make TCS the beneficiary of your individual or workplace insurance. Your estate then receives a charitable tax receipt.

Benefits of life insurance:

  • Affordable annual premiums (on average, only 4¢ on the dollar) which convert to a large gift to TCS.
  • You receive a charitable tax receipt based on the way the insurance was gifted.
  • Gifts of life insurance are not included in probate.


Donating a new policy
Donor takes out life insurance for $100,000 naming Trinity College School as owner and beneficiary of the policy. The donor’s annual premium of $4,000 has an approximate after-tax cost of $2,160 per year. The legacy to TCS is $100,000.

Donating a paid-up policy
Donor has a fully paid insurance policy of $200,000 that has a cash surrender value of $112,000. He or she donates this policy to Trinity College School and receives a tax credit for $54,000 (46% of the cash surrender value) that can be used to offset taxes payable for the next five years.

Donating a partly paid-up policy
Donor is six years into a 10-year term whole life plan. The policy is for $50,000. The cash surrender value of $9,000 with an annual payment requirement of $800. Donor receives a tax credit of $4,000 for the cash surrender value and continues to pay the annual premium. The donor receives a tax receipt for the annual payment lowering the after-tax cost to $450/year.