Planned giving

Gift of Life Insurance policy

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Donate a life insurance policy

What is a life insurance donation?
You have the opportunity to increase the value of your donation to the HMR Foundation by contributing a specified amount, which ensures a more substantial donation upon your death. By designating the HMR Foundation as the beneficiary of a life insurance policy, you spend less to give more.
To whom does it apply ?
Life insurance donation is accessible to everyone. It's a philanthropic option that enables anyone wishing to support a cause close to their heart to do so in a planned and significant manner.
How to go about it
It is recommended to consult a financial advisor or a legal professional for personalized advice on this form of donation and its suitability to your situation. This type of donation should be part of your tax and estate planning.
The benefits of a life insurance donation
The total amount of premiums to be paid to take out a life insurance policy is typically less than the capital that will be paid out to the beneficiary you have named upon your death. You always have the option to change the beneficiary if your financial and family situation changes.

Paying out the death benefit to the HMR Foundation enables the issuance of a tax receipt for donation. It's your estate that can benefit from the tax deduction since it will have less tax to pay.
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1. Discuss about it

Discuss your desire to donate a life insurance policy with your financial advisor. They can assess the impact of this decision on your family's wealth, taking into account potential benefits for your estate.

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2. Adding the HMR Foundation as a beneficiary.

If you wish to donate an existing life insurance policy, please contact the insurance company to add the HMR Foundation as a beneficiary. For a new life insurance policy, make sure to designate the HMR Foundation as one of the beneficiaries.

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3. Inform the FHMR

The HMR Foundation appreciates being informed of your philanthropic decisions so that, if you wish, we can give you the recognition you deserve.

Frequently asked questions

Can I dedicate my life insurance donation ?

How much does it cost?

Any other questions?

Personne contact pour Any other questions?

If you would like more information on life insurance donation or are considering making one, our team is here to answer all your questions.

Expert

Valérie Paquette

E-mail

Phone number

514 252-3435 Ext 104
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