At the end of the last three financial years, I have been getting this question on if I should opt for a term insurance, but then I felt that doing so may not be correct in the sight of God… but the thought keeps coming again… can you please advice me?
@gjhamilton78 I can’t give you advice on what to do, but here are some thoughts and some council given on Dave Ramsey’s website, though I am not endorsing it as necessarily correct. Just some thoughts to consider. In these matters, get advice from lots of different people is a wise decision - especially people who know your situation, who are rooted in the Bible and who have a track record of managing their finances well.
In what way are you concerned that term life insurance would not be Biblical? Are you afraid it shows a lack of trust in God? I think Proverbs makes it clear that a wise man plans ahead.
Proverbs 13:6 - A wise man thinks ahead; a fool doesn’t and even brags about it!
Proverbs 15:22 - Without consultation, plans are frustrated, but with many counselors they succeed.
Proverbs 22:3 - The prudent see danger and take refuge, but the simple keep going and pay the penalty
I don’t think we should make decisions motivated by fear, but I do think we should pray about how we can best provide for those God has asked us to take care of… Christ grant you wisdom
Advice from Dave Ramsey
If anyone depends on your income right now, you need term life insurance. It protects your family by replacing your income—which makes term life one of the most important parts of your financial game plan.
Appreciate your response @SeanO !
I do not have a different opinion to your notes, however, I have a follow up question though - if I go ahead and get a term insurance, would’nt that appear as that I lack faith in God? Instead of clinging to his promises that He will take care of my needs, wont my action indicate that I dont trust God fully?
@gjhamilton78 Why did Abraham, Isaac and Jacob tend their flocks? Why did Paul make tents? God expects us to be good stewards of the resources He has given us - that is not a lack of faith - it is just the way God has made the world. God told Adam to tend the garden - we were created to work and to grow in wisdom - to be stewards of the earth. That involves wise planning and good use of the resources God has given. I am not saying that term life insurance is the right decision - but I am saying that I believe God expects us humans to use the resources He has given us wisely.
Let me ask you this - in your mind what does it look like to trust God fully? Do you see your job as a blessing from God? What is the difference between a secular job and something like term insurance?
Your questions made me think deep - I am now able to see the folly of my original question. Here is my renewed way of looking at what it means to trust God - it means, submit your plans to God and go ahead and do it in His name. In addition, just believe that He is with you.
I certainly see job and my compensation are a gift from God… and I dont see any big differences between working for a secular organisation vs getting myself an insurance. Whatever I do in the secular world, I ought to be doing it for His Glory without being too anxious and worried about the future. Thank you Sean !
@gjhamilton78 I am glad it was helpful! I would nuance what you said it a little bit though - I don’t think we only submit our plans to God and do it in His name. I think there also what would be called a process of discernment - spending time in prayer, asking godly people, consulting the Scriptures and waiting on God. Once we have sought God - like Daniel - then we make the wisest decision we are able and trust in His goodness as our Shepherd to guide us.
Advice when making big decisions:
- pray persistently and wait long enough for God to alter circumstances - give it some prayer and time if possible
- seek wise council from people who have clearly made wise decisions in this area in the past
- be aligned with Scripture
- when it comes time to make a decision, go for it - make the wisest decision you know how to