With input of CALU and other recognized experts in strategic philanthropy, financial planning and the insurance industry, the Canadian Association of Gift Planners (CAGP) has created a series of user-friendly information resources intended to provide straightforward guidance and direction to fundraisers, professional advisors, donors, and insurers when facilitating charitable donations using life insurance.

The guidance comes in response to concerns some insurance industry regulators have expressed about the use of life insurance as a charitable giving vehicle. Interested parties were asked to collaborate in the development of best practices to address the solicitation and receipt of life insurance policies to avoid any breach of provincial anti-trafficking rules and protect the interests of policyholders and beneficiaries. The objective is to ensure appropriate processes are followed when insurance products are used in charitable donations and we recommend CALU members review and use these resources when dealing with clients considering a charitable gift of life insurance.

We wish to specifically acknowledge the input of late vice-chair David Wm Brown, who led CALU’s involvement in the development of CAGP’s guidance targeted to professional advisors. With his expert feedback, these resources will help ensure that charities and donors can continue to benefit from the opportunities life insurance presents for larger more impactful charitable gifts.

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