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Home 5 Ways to Give 5 Gifts of Insurance

Gifts of Insurance

There are great reasons and several ways to provide this support.

Your life insurance needs can shift over time. As your life changes, your insurance coverage may no longer be required for its original purpose. Using it for charitable purposes can make good sense for your tax situation and your community. There are different ways to support the Aberdeen Health Foundation through gifts of life insurance:

Change an existing life insurance policy

If you no longer need to provide financial security for your heirs, you can change the name of the beneficiary to Aberdeen Health Foundation SocietyAfter your death, your estate will get a charitable donation receipt for the proceeds of the policy. This can offset income taxes payable on your estate’s final tax return.

Transfer the ownership of an existing policy

If you’d like to receive immediate tax savings on the donation of an existing policy, you can transfer ownership to Aberdeen Health Foundation Society and make us the policy’s beneficiary. A portion of your policy’s value will be taxable as income, but you will receive a tax receipt to help offset taxes payable.

Purchase a new life insurance policy

Depending on how you structure a new policy to benefit the Aberdeen Health Foundation, you or your estate could receive tax receipts.

To learn more contact us or speak with your lawyer or financial advisor.

Area of Greatest Need

Frank & Irene Sobey Memorial Fund: Flexibility to respond to emerging needs.

Health System

Investments in the health system impact patient access and care in a variety of areas. You can help by giving to one of the following:

Jim Gogan Medical Equipment Endowment: Advancing patient care through program and technology enhancements.

Palliative Care Fund: Providing perpetual support to enhance palliative care services in Pictou County.

Donald Horne Endowment for Children’s Health: Enhancing direct patient care to children in Pictou County.

Oncology Patient Fund: Supporting patients with extra expenses related to their diagnosis and treatment, including travel, medication, and medical devices.

Population Health

Good health is our greatest resource. To advance population health in Pictou County, we work with community partners to identify and address barriers that prevent people from achieving their full health potential. You can join us by giving to one of the following:

Children’s Aid Society (CAS) Endowment: Funding for community projects that promote healthy child development.

Sandbar Mental Health Endowment: Funding to enhance mental health programs and care in Pictou County.

Continuing Education

Everyone benefits when our health care workers are provided with opportunities to learn and adapt to health care innovation, new technology, and evolving best practices. Join us in our commitment to continued learning by giving to any of these funds:

Bain Langley Palliative Care Education Endowment: Continuing education and training for medical staff and volunteers working in the palliative care program in Pictou County.

Johnnie Miles Williston Education Fund: Continuing education that will enhance patient and community care.

Edith Were Fraser Family Memorial Endowment: Continuing education for nursing staff in Pictou County.