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The Reform Party of Canada recently said it was honored by the generous contribution of one of its members of a variable life insurance policy taken out in the name of the Reform Party. A news release outlining the details of the contribution was included in the monthly fundraising package sent to members in January.
"Our members have many different ways of contributing to the Party. In this case, it was a generous gift by a member who believes the Reform Party will be around for a very long time," said Laurie Watson, the party's manager of communications, who prepared the package after consulting with experts in the life insurance industry and members of the party.
"Obviously this would not appeal to everyone. But we have received some very positive responses from members who want more information about this method of fundraising," Watson said. Watson noted that most other organizations requiring funds allow members to contribute life insurance policies taken out in the name of the organization. Institutions such as universities and scores of organizations, including the Salvation Army, the Heart Fund and Ducks Unlimited rely to a large extent on funds raised through such estate planning methods as life insurance, endowments, memorials and gifts of property.
Watson said she was offended by news reports suggesting that the party has asked members to sign over their life insurance policies. "I think this distortion shames the very generous gift from one of our members," Watson said. Watson said she decided not to make a sales pitch, but opted instead to simply outline in a news story how the Reform Party member contributed through a life insurance policy. "We felt it would be inappropriate to ask members to contribute in this way. However, we did provide a telephone number for those who wanted more information," Watson said.
The news article provided to Reform Party members outlined how "Anne", a Calgary woman in her 60s, arranged for a life insurance policy with the Reform Fund Canada as a beneficiary. Ownership of the policy was transferred to Reform Fund Canada and Anne arranged to make a donation to Reform Fund to cover the policy premium. "Fund raising has become very sophisticated," said Watson. "No political party can operate without funds. But it's up to the party to come up with diverse ways in which members can contribute. This is one of many."
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