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Western University Be Extraordinary The Campaign For Western

Life Insurance

Giving a life insurance policy is one way to maximize your contribution to Western. It enables you to make a significant, lasting gift to Western with minimal outlay of current savings or income.

There are several ways of making a gift to Western through life insurance:

  • You can purchase a new policy.
    By naming Western as irrevocable owner and beneficiary, you will receive an income tax receipt yearly for the full amount of premiums paid.
  • You can donate an existing policy.
    If you donate an existing policy and name Western as the irrevocable owner and beneficiary, you will receive a tax receipt for any net cash surrender value (if applicable) and any subsequent premiums paid.
  • You can make Western the beneficiary of a new or existing policy.
    By directing the death benefit of a policy to Western, your Estate will receive a tax credit when the proceeds are realized.

Create your legacy

To ensure that your particular needs are met and that your wishes are honoured, you should consult your life insurance agent and any other pertinent advisors. At the same time, please contact the Bequests and Planned Gifts team at Western to advise the University of your intentions. We can assist you with the process of making a gift of life insurance and help you determine how you would like your gift to impact Western’s students, teaching or research programs. We can also offer recognition of your generosity during your lifetime.

Helpful Resources

Sample Bequest Language for your Will

Statement of Intent - We would love to know if you have already included Western in your estate plans.

Please contact our Legacy Giving team for more information: Jane Edwards (519-661-2111, ext. 88829 or jane.edwards@uwo.ca); or Mike O’Hagan (519 661-2111, ext. 85585 or mike.ohagan@uwo.ca).

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