Planned giving of a new life insurance policy is a concept that allows clients to use permanent life insurance to achieve their philanthropic goals. It’s a win-win strategy. It benefits the client while they’re living, because they’re the insured and the one paying the life insurance premiums. Because the premium payments are considered to be a gift, the client will receive an official tax receipt they can use to claim charitable tax credits. Upon the client death, the registered charity they’ve selected will receive the policy’s death benefit which, in most cases, will be considerably higher than all the premiums the client will have paid.