This enables you to leverage your gift, ultimately making a much larger gift than otherwise possible.
Premiums become tax deductible.
You can make the church the owner and beneficiary of an existing policy. The current value of the policy is tax deductible, as are future premium payments. You can make the church a contingent beneficiary of an existing policy, i.e., name the church to receive the proceeds of the policy if the designated beneficiaries predecease the insured. Also, you can use life insurance in conjunction with another planned gift. For example, you can purchase life insurance with the income received from a life income trust, thus replacing, and in some instances, surpassing, the principal removed from the estate by the gift.