Life insurance
Where is Your Fortress?
CBN.com
– People who are shopping for life insurance tend to make two assumptions: First, that one’s death may come accidentally or prematurely. But in a world governed by a sovereign God, are there really any “accidents”? Scripture tells us, "Not even a sparrow falls to the ground apart from the will of your Father; are you not much more valuable than they?" (Matthew 10:29). Is there really "premature" death? If He knows the number of hairs on our head, He knows the number of days in our lives. Indeed, before birth He ordained the number of our days (Psalm 139:16).
The second assumption is that the husband is fully capable of providing for the family after death, through either assets or insurance. No credit is given to the God who lives on after we die – the God who can take care of one’s family through the surviving spouse, another mate, work opportunities, good health, and much more.
This is not to negate all uses of life insurance, but only to give a little perspective. If we forget God, we’re likely to operate from fear in our life insurance planning and assume responsibilities beyond what He intends.
Putting God “out of the picture” makes us vulnerable to two common mistakes. First, overbuying. When selecting an insurance amount, many people provide an amount so large that the surviving spouse would never have to work again. In some cases, they insure for an even better standard of living than the family currently maintains. It may make sense to provide a level of insurance that would allow Mom to stay at home while children are young. But insuring to a lifetime "work-free" level wastes assets that would be better spent on other financial priorities (such as debt repayment). The second mistake is transferring our confidence from the Lord to insurance. The first is financially harmful; the second can be spiritually devastating.
In his excellent book Money, Possessions, and Eternity, Randy Alcorn asks, "Where does God fit into all this? The greatest danger in insurance is that it so easily undermines our sense of dependency on God. Is insurance a God-given means of provision, or is it in reality a theological end-run that makes trust obsolete and God unnecessary?"
Many of us are like the rich young ruler of Jesus' time—our wealth, which includes insurance, is our true fortress. "A rich man's wealth is his strong city, and like a high wall in his own imagination" (Proverbs 18:11). But this fortress is imaginary, for no matter how much one has in retirement accounts or in insurance, those who make riches their protection discover no rest for their souls. There is never "enough."
I believe this is part of the reason that hoarding riches is called "a great evil" and "vanity" in Ecclesiastes 5:13. Since it makes us proud and independent of God, yet ultimately doesn't protect us nor give rest for the soul, what better description is there?
On the other hand, consider King David: "My soul finds rest in God alone; my salvation comes from Him. He alone is my rock and my salvation; He is my fortress, I will never be shaken" (Psalm 62:1-2). He wasn't secure because of his position as King. His security came through confidence in God's keeping power.
Today we have a lot of "Christianized" secular financial planning. Christians insure and accumulate with the same motives and in the same ways non-Christians do. Christ says there should be a difference (Matthew 6:32).
The Sound Mind Investing insurance page provides practical help on the best use of life insurance, evaluating policies and companies, etc. But, our greatest need is to place our hope and confidence in God alone. Faith in God, which comes through focusing on His promises, is the greatest stabilizer against the emotions of greed and fear that undermine our investment and insurance decisions (Hebrews 11:24-26).
May I ask you to consider, "Where is your fortress?" Remember:
• God has committed to providing for His children (Matthew 6:26,31-32). He can use many methods—another mate, support of extended family, friends, church, scholarships and work-study programs, Social Security, and so on. Insurance is one of many tools He may use, but it is only one.
• Buying life insurance in a way that pleases God involves faith (Hebrews 11:6), not fear (Psalm 23:4, 91:5).
Are you trusting God in your life insurance planning?
Sound Mind Investing exists to help individuals understand and apply biblically-based principles for making spending and investing decisions in order that their future financial security would be strengthened, and their giving to worldwide missionary efforts for the cause of Christ would accelerate. In other words, we want to help you have more so that you can give more.
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