Life Insurance
Typically, there are two ways to gift life insurance to a charity.
The first is if you have a policy, you can donate that policy to a charity, and then you can continue to make the premium payments, these become the equivalent of a charitable donation. You will also get a charitable tax receipt every time you pay the premium.
The second is to make the charity the beneficiary of your life insurance policy while you continue to be the owner of the policy. You pay the premiums, and there's no tax credit for those premiums. However, once you pass away, your estate will then get a charitable tax receipt equal to the proceeds of that life insurance policy.
Gifting your life insurance can allow you to have a much larger impact. It doesn’t allow you to give today, but it creates a large impact later on.