Life Insurance and Securities

Donating life insurance, securities, or mutual funds is an easy way to support the Mental Health Foundation without affecting your current income and provides tax-saving benefits.

Life Insurance

There are several ways you can use your life insurance policy to support the Mental Health Foundation.

  1. Assign ownership of a fully paid policy to the Mental Health Foundation. A charitable tax receipt will be issued for the cash surrender value of the policy at the time the gift is made.
  2. Assign ownership of a life insurance policy on which premiums remain to be paid to the Mental Health Foundation. 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 ongoing premiums paid.
  3. Name the Mental Health Foundation as a primary or successor beneficiary of the policy proceeds. A charitable tax receipt will be issued for the value of the death benefit received, and may be used to offset estate taxes in the year of death.
  4. Purchase “wealth replacement” insurance. Make a philanthropic contribution to the Mental Health Foundation. A charitable tax receipt will be issued for the value of the donation. You may then 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.

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. 

Securities and Mutual Fund Units

Capital gains on contributions made to the Mental Health Foundation are tax exempt.

Gifts can be made now or through your estate in three easy steps:

  1. Complete the Securities Transfer Form.
  2. Email a copy of the completed transfer form to the Mental Health Foundation for processing.
  3. Send the completed transfer form to your broker or investment advisor.

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

These are simple and powerful ways your legacy will help those in your community
who struggle with mental illness and addictions.