Canada Life My Par Gift
A first-of-its-kind, this single premium payment participating life insurance is designed for charitable giving and allows donors to make a bigger impact with the charitable donation they make during their lifetime.
Description: This video combines stock video, animation and text on screen along with a narrator and music to talk about Canada Life My Par Gift life insurance.
Description: Video opens with a shot of an older and younger person holding hands. The Canada Life logo appears over this shot.
Narrator: Your goal of giving to charity is to make as big an impact as possible.
Description: Opening scene transitions to sliding images of women holding books in a library, then to a child hugging a medical professional in a hospital, then to a solid background. Words “Canada Life My Par Gift” appear on screen while an animated line traces a heart around the words.
Narrator: Canada Life My Par Gift life insurance helps you do that. It’s simple, unique and innovative participating life insurance.
Description: The words “simple, unique and innovative” appear on screen.
Narrator: Backed by the strength and stability of Canada Life, where charitable giving is a cornerstone of our corporate philosophy.
Description: More still photos slide across the screen including a Canada Life employee volunteer building a home, Canada Life employees cutting a ribbon, and Canada Life employees with a big cheque giving to a medical foundation. The solid background returns and the animated line starts tracing across the screen.
Narrator: My Par Gift life insurance lets you make a one-time premium payment donation that provides an immediate tax credit.
Description: The animated line draws a cheque and the words “One-time premium payment donation” appear on screen. The animated line turns into a pen signing the cheque and the words “Immediate tax credit” appear on screen.
Narrator: And that can grow into an even larger donation over the policy’s life.
Description: The animated line draws a hand holding a seedling.
Narrator: It’s also more flexible for the charity who owns and controls the policy.
Description: The animated line becomes a small tree that grows into a larger and larger tree.
Narrator: Make your mark. Donate today and grow your impact tomorrow with My Par Gift life insurance.
Description: The words “Learn more by talking to an advisor” appear on screen.
Narrator: Learn more by talking to an advisor.
Description: Canada Life logo appears along with the words: Canada Life and design are trademarks of The Canada Life Assurance Company. Canadalife.com 1-888-252-1847
The registered charity
The base amount of life insurance is guaranteed to stay in effect for the insured person’s lifetime once the single premium payment is made.
Dividends can be used in many ways. The charity can choose to buy additional insurance coverage, which may further increase the policy’s cash value and payout on death. Or, they can take the annual dividends as cash.
Over time, the life insurance policy builds cash value. The charity has guaranteed access to these funds, which can be used in many ways during the insured person’s lifetime. It is important to note that any withdrawals or unpaid loans will decrease the size of the charity’s payout.
The single premium payment qualifies as a charitable donation.
Did you know permanent life insurance is one of the most cost-effective ways to donate to a registered charity?
Whether you’re donating time or money, you’re giving because you have a desire to help charities that are important to you. You can continue that legacy of giving even after you die. Canada Life My Par Gift can be your opportunity to continue to support others and shape the future while making a big impact.
The foregoing provides a brief overview of how charitable giving can be achieved using life insurance. This material is for information purposes only and should not be construed as providing legal or tax advice. Reasonable efforts have been made to ensure its accuracy, but errors and omissions are possible. All comments related to taxation are general in nature and are based on current Canadian tax legislation and interpretations for Canadian residents, which is subject to change. For individual circumstances, consult with your legal or tax professional.
Canada Life and design and Canada Life My Par Gift are trademarks of The Canada Life Assurance Company.