Want to make a significant donation to a charity when you pass away, but you don’t have the funds? Think about a life insurance policy. A term policy would have to be in effect when you die, while a whole life insurance policy could stay in effect throughout your lifetime. Either way, a relatively small yearly investment could turn into a large donation when you pass away. You can make the charity the beneficiary of your policy or set up a Trust that will then donate those funds to charity. Either way, life insurance can be the gift that gives after you pass away.