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"Children's home environments – in particular the extent to which they acquire literacy skills and habits from the adults raising them – are the key to early childhood literacy."

State of Learning in Canada report

What to do with "Obsolete" Insurance
Do you have a life insurance policy you purchased years ago to provide financial protection and no longer need it? If so, it may be a great asset to name the Centre for Family Literacy as both the owner and beneficiary of the policy.

At the time of the donation, you receive a charitable tax receipt for the cash value of the policy. And if you cannot use the full credit in the first year, you can carry forward the unused portion up to five additional years.

There is also a significant tax savings to your estate as a donation receipt for the amount of the death benefit would be issued upon your death.

Many people wish to give more to charity, but are concerned about their cash flow and unforeseen emergencies. They are reluctant to reduce their investment assets. The donation of an insurance policy makes an ideal gift as it leaves your current income undisturbed.

If you are interested in exploring this option, please contact your life insurance professional.

This article is intended to provide only information of a general character. For advice in specific cases, the services of an attorney or other professional advisor should be obtained.

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