Jennifer purchased a $25,000 life insurance policy when she was 30 with a young family. Now her two children have grown up and are both professionals without outstanding debts. All the premiums have been paid on the policy, and it is clear to Jennifer that its intended purpose as a safety net for her children is no longer necessary.

She lives on a small pension now, and is unable to make a significant cash gift or give up an interest producing asset. However, she wants to help refugees. As a result, she has decided to give the life insurance policy to the UN Refugee Agency.

As the transfer of ownership is irrevocable, Jennifer is eligible for a tax receipt for the value of the policy to use in her current tax return, and she can be recognized as a significant donor to refugees in her retirement years.