How Younger Supporters Can Become Major Gift Donors with a Legacy Gift

Magid Girgis

Magid Girgis is a certified financial planner specializing in gift planning.

We all have passions that fill our lives. Be it the arts, health care, education, poverty or the environment. We all have that internal need to give back to those institutions that drive our passions. Some will donate annual gifts towards the operation of these organizations. Others will volunteer their time and provide service. Some will promise future gifts and few will do it all.

Given our current pandemic state, we have certainly seen a changing of attitude and values. Our concern for life and society has increased and the need to protect the future has become a focus of concern. More of us have been exposed to the unnecessary loss of health and life. The financial impact of these losses have become a worry and the need to minimize the losses have become a center of attention.

One major change in 2020 positively affected the application for insurance products, particularly life insurance. Given the restrictions on personal contact, underwriting requirements were changed making it easier for younger Canadians to apply for coverage. The cost of life insurance is dependent on age and health so younger adults are underwritten quickly and pay significantly less premium. These underwriting rules still continue in 2021 but could change at any time as restrictions are reduced or removed.

Life insurance is one of the main financial products that allow us to care for our dependents. This gift allows for the elimination of debts, the continuation of income and the transfer of estates. Life insurance also allows us to provide substantial gifts to the charities that fuel our passions. By naming the charity as the owner, the individual will receive tax receipts for the paid premium. As the named beneficiary, the charity receives the benefit directly.

A charitable insurance gift typically uses a permanent life insurance policy. These policies are usually more expensive for older donors but quite affordable for younger donors. This insurance investment allows younger donors to become future major gift supporters with affordable cost today. These future major gift donors want to go above their regular giving and ensure that giving beyond their life.

Gift Examples

Male Donor (30 yrs old)
Future Major Gift Donor
10 Year Investment

Life Insurance Gift 




Monthly Commitment 




Annual Tax Receipt** 




Future Potential 

Major Gift (age 85)* 




Female Donor (30 yrs old)
Future Major Gift Donor
10 Year Investment

Life Insurance Gift 

$25,000 $50,000  $100,000

Monthly Commitment 

$76 $147


Annual Tax Receipt** 




Future Potential 

Major Gift (age 85)* 




* This proposal is for illustrative purposes only and all amounts are subject to change. These illustrations use a participating life insurance policy and assume Empire Life’s current dividend scale for all years. Future annual dividends are not guaranteed.
** Annual tax receipt issued only when charity is owner and beneficiary