Gifting Life Insurance or Securities

When considering the best way to potentially support the Foundation, there are several options that will benefit both you and the organization.

Life Insurance

Donating life insurance can be an excellent way to increase your support for the Mental Health Foundation without affecting your current income. It can also provide tax saving benefits.

There are various ways by which your life insurance policy may support the Mental Health Foundation:

1. You may assign ownership of a paid-up policy to the Mental Health Foundation (CRN #821577673RR0001):
    • A charitable tax receipt will be issued for the cash surrender value of the policy at the time the gift is made.
2. You may assign ownership of a life insurance policy on which premiums remain to be paid to the Mental Health Foundation (CRN #821577673RR0001):
    • A charitable tax receipt will be issued for the cash surrender value of the policy at the time the gift is made and annual receipts for the premiums for as long as you continue to pay them.
3. You may name the Mental Health Foundation (Charitable Registration Number 821577673RR0001) as a primary or successor beneficiary of the proceeds:
    • A charitable tax receipt will be issued for the value of the death benefit received and may be used to offset other taxes in the year of death.

You may wish to purchase “wealth replacement” insurance. You can make a current donation to the Mental Health Foundation and use a life insurance policy to replace the value of the donation. You receive a charitable tax receipt and use the tax savings to purchase a life insurance policy for the value of the donation, naming your heirs as beneficiaries. The proceeds of the policy will not be included in your estate for probate purposes and are payable tax free to your heirs as part of their inheritance. This option ensures that your estate is not diminished even though you are making a significant donation.

Donors are encouraged to consider the needs of family first and to consult with their advisors to be sure their gift considers overall tax and estate plans. 

Gift of Securities or Mutual Fund Units

Donations of securities or mutual fund units can be a tax efficient way to make charitable gifts. Capital gains on gifts provided directly to the Mental Health Foundation are tax exempt, which may allow you to give more. Gifts can be made now or through your estate.

To donate gifts of securities or mutual fund units, please use the Securities Transfer Form (click to open)

Three easy steps:

  1. Complete the Securities Transfer Form.
  2. Notify the Mental Health Foundation for processing as described in the Securities Transfer form.
  3. Fax or send the completed transfer form to your broker or investment adviser.

A tax receipt will be issued for the value of the securities/units the day the Mental Health Foundation receives them.

Whichever way you choose to make your gift, you can be assured that your gift will make a difference. These are simple and powerful ways to help those in your community who struggle with mental illness, while leaving a legacy.