Is a Charitable Gift Annuity right for you?
If you are: 70 years or older; interested in a guaranteed, regular income for life; interested in making a charitable gift that benefits both you and CNIB; someone who keeps your money mostly in Canada Savings Bonds, GICs or a savings account, then a Charitable Gift Annuity may be the perfect choice for you.
Benefits to you
By purchasing a Charitable Gift Annuity, you will receive a guaranteed, secure income for life. You will receive a charitable tax receipt which will reduce taxes on other sources of income. You’ll help enhance independence for people with vision loss and promote vision health.
What is a Charitable Gift Annuity?
A Charitable Gift Annuity is a unique way to make a gift to charity and receive secure payments for life.
A Charitable Gift Annuity is purchased by paying a lump sum to CNIB. CNIB then purchases a Charitable Gift Annuity for you. You will then receive guaranteed monthly, semi-annual or annual payments forever. A portion of the amount you pay to CNIB is a donation to CNIB.
How can you get a free, no obligation quote for a Charitable Gift Annuity?
You can simply call CNIB and we can prepare a personalized quote for a Charitable Gift Annuity at no cost to you.
How much money will you get?
The amount of money you will get depends on a set of formulas and actuarial tables that take into account factors such as your age, payment schedule and whether you are male or female.
Whether the payments are completely or partly tax-free is also determined by a similar formula.
What information does CNIB need to give you a Charitable Gift Annuity quote?
If you are interested in acquiring a Charitable Gift Annuity, CNIB will ask you for some information to prepare your free quote. Getting a quote does not obligate you to buy an annuity.
To prepare a quote, CNIB will need to know:
Your birth date
Whether you would like to share the proceeds from the annuity with another person like your spouse or sibling
How often you would like to receive payments
The amount of the lump sum you are considering
CNIB will prepare a quotation for you that sets out the amount of the payment you will receive and how often you will receive payments, the amount that will be received tax-free and the amount of the charitable donation receipt CNIB will issue to you.
If you are happy with the quotation, you can make the lump sum payment and CNIB will handle all of the processing of the Charitable Gift Annuity for you.
Be sure to get outside advice
The above information is not intended as legal or financial planning advice. When considering any planned gift, you should always consult your legal advisor, banker, financial planner or your family members.
For more information, or to receive a quote, please contact:
Ruth D'Souza
1-800-563-2642 or
416-486-2500, ext. 7006