Charitable Planned Giving

Life insurance provides an affordable way to make a significant gift to your favourite charities.

By giving through life insurance you can:

make a substantial charitable donation for a comparatively small premium
become a major benefactor right now, rather than waiting years to make your gift from accumulated assets
gain tax benefits and guarantee the value of your gift will not be reduced by taxes, probate, or administrative costs
make a significant gift of funds that are considered independent of your estate, and therefore cannot be challenged
keep your gift private and confidential.
There are many options for making a gift of life insurance. Some, like the first three listed below, can provide for a generous future gift while offering immediate tax relief. The method you choose will depend on your preference and circumstances.

Transfer ownership of an existing, fully-paid policy - Perhaps you hold a policy that, while fully paid, is no longer required as your family has grown or your financial situation changed. You can transfer ownership of the policy to the charity of your choice and name it as the beneficiary. You will receive a donation receipt for the fair market value* immediately, just as if you had made a cash donation.

Sign over a partially-paid policy - When you transfer ownership of a policy that is partially paid and name the charity as beneficiary, you will receive a tax receipt for the fair market value*, as well as for further premiums you pay on the policy.

Purchase a new policy and make your favourite charity the owner - When you make the charity the owner and beneficiary of a policy, you are entitled to tax receipts for premium payments.

Make the charity the beneficiary of your policy without transferring ownership - The proceeds of the policy will be paid to the charity immediately upon your death and your estate will receive a charitable donation receipt for the amount of the insurance proceeds.

Make your estate the beneficiary of the life insurance policy and bequeath the amount of the policy to your charity in your Will - You will not receive tax benefits during your life, but your estate's tax liability will be reduced. However, your donation will be delayed while your estate is processed and because your Will can be challenged or your estate reduced by fees/creditors, the full value of your intended contribution to your charity may be diminished.

* When you receive a tax receipt for the cash value, you may have to claim some portion of the cash value amount as income to offset the tax credit.

Please contact us today for your no-obligation consultation. We look forward to helping you and your family.

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What Our Clients say

"On behalf of myself, my brother, and our families - thank you for your assistance, sage advice, and care in helping us arrange life insurance, and assisting us with tax/ estate planning. As fellow business owners and fathers, your understanding of the various complexities involved were invaluable. You always left us with the feeling that while you are happy to make a sale, you actually also care. If you ever need us to speak with potential clients about the service and professionalism you provide, we would be happy and honored to do so. Wishing you much continued success in your core business and new product lines."
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Ben and Dan Berkovits
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www.homeimprovementpeople.com

"I responded to Mark's radio advertising on 680News, and he made it all so easy for me. He showed up on time, his cell phone never rang in our meetings and he returned my calls promptly. There was no hard sales push and he didn't sell me something that I didn't need. That's refreshing because we are all tired of being pushed to buy things that aren't necessary for us. I would recommend Mark Halpern to any busy and successful person who needs a high level professional and personal touch."
Dale Asser
Shorthorn Cattle Breeder
Hillhaven Farm

"I called Mark after hearing him many times on the radio. Operating a growing family business in building restoration and expecting my first child soon got me thinking about how I must take care of myself. Even more so, my father passed away last year and I wanted to make sure that my family and business would survive if I got sick or died. Meeting with Mark was a definite eye opener in terms of my position in life now and in the future. He helped me evaluate all of the potential problems that could come up and provided me with the right solutions that I needed to take care of any unforeseen problems. He organized our group health benefits, mortgage financing and got us started with RESP's. He is now looking after all of our insurance protection programs. The experience was simple and smooth. Working with Mark was a truly educational experience."
Jason Gheda
President
SST Group of Construction Companies Limited

"Mark, I just want to let you know that you are the most comprehensive insurance guy I've ever met. I really appreciate the time you have spent with me and my wife going through all of our planning. Dealing with someone as knowledgeable as you is a rarity. Your professionalism and the way that you get things done...I'm truly impressed and I just want you to know that."
Jordan Jacobson
Sales Manager
The Benvenuto Toronto