Charitable Annuity

charitable annuity

What is a charitable gift annuity?

A Charitable gift annuity is a way to guarantee an income for yourself while also making a gift to a charity.

The charity normally purchases the annuity through an annuity broker like ourselves and specifies the guarantee period, if any, and for life.

This is a tax effective plan for you as much of the income you receive from such an annuity, is almost free of tax.

And you and your spouse can buy a charitable annuity together.

If the annuity income you receive exceeds your needs, you can buy a life insurance policy to benefit this or another charity. This way you receive additional tax credits for the premiums paid.

Ivon T Hughes

About the Author

Ivon T. Hughes

Ivon T Hughes is a leading expert on life annuities in Canada. His website LifeAnnuities.com has different financial products and has been a recognized authority since 1972.

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The Hughes Trustco Group | Website: LifeAnnuities.com | Email: info@trustco.ca