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Stevenson Memorial Hospital Foundation

Creating a Legacy of Care: The Benefits of Donating Life Insurance as a Charitable Gift in Canada

Stevenson Memorial Hospital is dedicated to the health and well-being of our community. As we plan for the future, we are asking the community to consider creating their legacy through helping to sustain our hospital’s ability to deliver outstanding care for the years to come. The solution lies in educating the community and nurturing our Legacy Giving Program.

Planned Giving is often described as “leaving a legacy”; you are making a difference tomorrow by planning today. Planned gifts are easy to arrange, can produce attractive tax benefits, and come in many forms, including the donation of life insurance.

Life insurance policies can be a valuable and often overlooked option when leaving your legacy. Contributing a life insurance policy presents opportunities for tax benefits, whether realized annually or during estate settlement.

Donating a life insurance policy to a charity like Stevenson Memorial Hospital Foundation can provide considerable tax benefits. When you name us the beneficiary, your estate may receive charitable tax benefits, which can help offset estate taxes. This strategic giving approach supports the hospital and financially benefits you or your estate.

The provincial government does not cover the costs of essential equipment, furniture, and technology. The support of individuals like you in our community allows the Hospital to continue to provide quality health care. Your legacy gift will help to provide the community with quality medical equipment and updated facilities. Donations to Stevenson Memorial Hospital Foundation are an investment in critical areas of the hospital, such as:

Medical Equipment and Technology: Keeping up with advancements in medical technology is essential for providing quality care. Donations help us purchase and maintain the latest equipment, ensuring our patients receive the best possible treatment.

Facility Upgrades: As our community grows, so does the need to redevelop and maintain our facilities. We are moving towards the redevelopment of Stevenson Memorial Hospital, which will see it more than double in size.

Donating life insurance as a charitable gift to Stevenson Memorial Hospital Foundation is a thoughtful and impactful way to create a lasting legacy. It ensures that our hospital can continue to provide exceptional care and be equipped with the latest technology and resources while offering donors significant tax benefits. This is particularly important in emergencies when timely access to care can be life-saving.

A planned gift can offer substantial tax and estate planning benefits as part of your long-term financial planning. Your gift to the Stevenson Memorial Hospital Foundation will help ensure that future generations can access excellent health care in our community. To inquire about donating, please contact the Stevenson Memorial Hospital Foundation at (705) 435-6211, ext. 2350. If you have questions about donating life insurance as a charitable gift, please contact your life insurance provider.

By: Kara Harris – Communications Coordinator, Stevenson Memorial Hospital Foundation