This can be done either by purchasing a new life insurance policy or by contributing a policy that you currently own.
We can be designated as the beneficiary of the policy, while you retain the right to change the beneficiary at a later date, and otherwise retain ownership of the policy. In this instance, no current tax deduction is available to you since you would still be the owner of the policy. However, at the time of your death, your estate would receive a charitable deduction when the proceeds of the policy are paid to us.
To receive a current income-tax deduction, you would need to designate us as both the owner and the beneficiary of the insurance policy. When such a gift is made, the deduction will be equal to the cash value of the policy at the time of the gift. Many donors decide to continue to pay the premiums on the policy after the gift is made, in which case the additional premium payments are tax deductible the following year.