An Affordable, Yet Substantial Legacy Donation
Beverly and Dave Knutson are generous donors to the Health Sciences Foundation, and have included a gift of life insurance as an additional way to ensure their support is provided even when they have passed.
For Dave and Bev Knutson, a gift of life insurance was a reasonably affordable way for them to guarantee a large donation to the Thunder Bay Regional Health Sciences Foundation.
“We were able to purchase the policy over several years, which was very helpful,” said Dave. “We were able to pay into a policy worth $15,000 based on our age, health and lifestyle. The best part was that we knew the amount of the policy would eventually be paid out to the Foundation, and it was our way to retain the value of our payment amount by ensuring a more substantial future donation.”
The Knutsons were able to direct the funds from the policy to any area of the Hospital – they chose the Area of Highest Need. “What we liked was that we could decide to make this donation now, while we are both in our right minds, and know, unquestionably, where we wish the money will go. It was nice not to leave it to chance or to a time in our lives when we might not be able to make that decision.”
Because of their generous donation, the Knutsons are recognized with a special plaque in the Health Sciences Centre and are invited to multiple donor events including special receptions and tours. “We’re grateful for the opportunity to advance healthcare in our community, even when we’re no longer here to witness it,” concluded Dave.