Ways to Give

Gifts of Life Insurance

There are many ways to support Southlake through a gift of life insurance. Choose which one is right for you.

You can donate an existing policy

• By naming Southlake Foundation as the owner and beneficiary of a fully or partially paid policy you will receive a charitable donation receipt for the cash value of the policy, as calculated on the date of the ownership transfer as well as charitable donation receipts for any remaining premium payments.
• Following your death, the Foundation receives the proceeds from the policy.

You can donate a new policy

• By purchasing a new policy and naming Southlake Foundation the owner and beneficiary, you will receive a charitable donation receipt for the annual premium payments.
• Following your death, the Foundation receives the proceeds from the policy.

You can retain ownership of the policy during your lifetime and donate the proceeds of the policy to the Foundation through a bequest

• When you name Southlake Foundation as the beneficiary of your policy through a bequest in your will the Foundation will receive the tax-free policy proceeds and your estate will be eligible to receive a charitable donation receipt for the full amount of the proceeds.

Benefits of making a gift of life insurance

• You receive either current or future tax benefits.
• When Southlake is named as a direct beneficiary, gifts of life insurance bypass probate making them less susceptible to being contested than a charitable bequest and also reducing probate fees payable by your estate.

How gifts of life insurance benefit Southlake

• Depending on how the gift is structured, Southlake benefits from either current or future funding to help meet hospital priorities.

If you would like more information on how to make a gift of life insurance please consult your financial/estate advisor or contact Southlake Foundation at 905-836-7333 or 1-877-457-2036 or foundation@southlakeregional.org.

   The information provided is general in nature and is not intended to be a substitute for professional legal or financial advice. Southlake Regional Health Centre Foundation encourages donors to seek independent legal and/or financial planning advice.

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