Thus your wishes are made known and followed. Your ensure that your heirs are treated appropriately. You state your choice of guardian for minor children. You minimize legal expenses and reduce taxes. You can make bequests to charities of your choosing.
Life insurance is a way to make a significant gift.
You could also transfer an existing policy to the charity. They provide both a future gift and a guaranteed life income for the donor. Tax on this income is reduced, and the net result is usually a higher return than that offered by other similarly guaranteed investments. In addition, you will normally receive an immediate tax receipt for a portion of your gift. A Gift that Keeps on Giving.