CAGP Writes To The BC Regulator for Clarity on Gifts of Life Insurance

Recently, the BC Financial Services Authority released a further bulletin on “Charitable donation of Life Insurance Policies in British Columbia” . We know this issue has been of great concern to our members in British Columbia and across Canada over the past year. As part of their bulletin, the Authority has encouraged the charitable sector to both communicate current best practices for gifts of life insurance, and to develop a document on this important area of philanthropy.

After receiving many notes of concern and in consultation with our CAGP Government Relations Committee, President & CEO, Ruth Mackenzie, and board chair Michelle Osborne have written the following letter to the Authority outlining a request for further confirmation and clarification. 

CAGP Letter to BC regulator May 14
(Click image to read full letter)

As always, we welcome engagement from our members and will strive to collaborate across the sector and represent the needs and considerations to advance strategic philanthropy in Canada.


Thank you CAGP and CAGP Government Relations Committee for your ongoing work to support the interests of donors and the charitable sector in these communications and work with legislators. It is significant and greatly appreciated both by our Foundation and by me as a PG professional. Irma McKenzie Director of Planned & Legacy Giving HSC Foundation Winnipeg, MB.
Great questions and excellent letter. I hope we get a response!
I'm happy to report we have already received a response from the regulator! Will report back after our next Government Relations Committee meeting in mid-June. Folks - CAGP is on it! Standby...
I want to express appreciation for the well drafted letter that was sent to the BC Financial Services Authority (BCFSA) asking for clarification on their bulletin regarding donations of life insurance policies in British Columbia. Abundance Canada has an office in Abbotsford, BC so this issue directly impacts our work with existing and potential donors. The issues your letter addressed were spot on and it will be interesting to see what response you receive. Abundance Canada is proud to be part of CAGP; a professional organization that advocates for the entire charitable sector with a credible voice. Keep up the great work! Rick Braun-Janzen Director of Gift Planning Abundance Canada


Add Comment