The Bible in fact has plenty to say about life insurance or protection through life insurance, which is applied by many different principles.  It’s however a lack of knowledge which confuses many when it comes to life insurance.  In the 1972 Good News magazine, Vol XXI, No. 03, the questions were asked if Christians should purchase life insurance in today’s society; if there is any need for God’s people to have insurance today; and “why most people feel their insurance payments serve no useful service except to swell the bulging pockets of someone else.” For the answers, we will quote extensively in this Q&A from the above-stated article.

First, an article in the 1960 Good News magazine, Vol IX, No. 01, pointed out:

“Understanding what insurance IS can help you properly exercise both FAITH in God and solid GODLY WISDOM!  Insurance is not a way to get something for nothing. Neither is it solely a way to protect the self. Nor is it a gimmick that costs you money from which you’ll never get any value.  Insurance can be defined as a pooling of resources exposed to a common risk to which a certain percentage of people will fall victim during a given period.”

Insurance doesn’t prevent accidents or death; it provides protection for unanticipated expenses you couldn’t otherwise pay; and as the above-quoted article continues to state, it “merely compensates you if you suffer such a loss so that you can regain your economic feet.  In case of death, insurance provides security for widows and children.”

“What does the Bible have to say about this kind of insurance?  In Deuteronomy 14:28-29 we read about the principle of third tithe:  ‘At the end of every third year you shall bring out the tithe of your produce of that year and store it up within your gates.’  Who is it stored up for? Ourselves? No! It’s for ‘the stranger and the fatherless and the widow who are within your gates.’ Why? So that they ‘may come and eat and be satisfied, that the Lord your God may bless you in all the work of your hand which you do.’

“This is INSURANCE!  Here is God’s insurance program to take care of widows and orphans in case of death of the husband and father. It often happens that people will not have sufficient laid up for emergencies until later in life. God knew this might happen. To provide for this He ordered the people to save 10% of their income once in three years – that is, the third and sixth year out of every seven years. We commonly call this the THIRD TITHE. The same command is repeated in Deut[eronomy] 26:12.

“Such problems as this have already faced God’s Church.  Sometimes women who have young children are converted. Either the husbands have died or have left them without means of support. What shall the Church do? It is the responsibility of its members to save THIRD TITHE to take care of just such emergencies. Such young women should not be working, but ought to be at home taking care of their children, until they become old enough to support themselves.

“Insurance is the principle of saving to help others. God wants us to save the third tithe once in three years as an insurance program for the Church, just as He wants us to save the FIRST TITHE for the spread of the gospel.  It is a lack of faith not to save the third tithe for the fatherless and widows. Saving the third tithe is a test of your faith!  It is also a type of ‘life insurance,’ aiding the widows and the young children if the head of the household dies unexpectedly. This can and does happen!” (For a thorough discussion regarding the requirement of saving third tithe, and the different purposes for the Church’s use of third tithe funds, please read our free booklet, “Tithing Today?”)

But we should also consider a personal responsibility of each member in God’s Church.  In 1 Timothy 5:3-4, 8, 16, Paul wrote to Timothy that it was Timothy’s duty that nobody would take advantage of the financial sacrifice of God’s people. “Honor widows who are really widows. But if any widow has children or grandchildren, let them first learn to show piety at home and to repay their parents; for this is good and acceptable before God… But if anyone does not provide for his own, and especially for those of his household, he has denied the faith and is worse than an unbeliever…If any believing man or  woman has widows, let them relieve them, and do not let the church be burdened, that it may relieve those who are really widows.”

The 1960 Good News magazine, Vol IX, No 01 wrote: “If you are able – and some think that they are not able when they are able – to support widows and orphans in your household, you are to do so. That is acceptable before God, Paul said. It is not the Church’s duty in such cases to use the third tithe. God doesn’t want spongers in His Kingdom.”

Quoting from the 1972 Good News magazine, Vol XXI, No 03:

“… insurance, in principle, is similar to third tithe. In cases where third tithe assistance is needed to help sustain widows and their families, a financial loss has resulted from the death of the husband who was the breadwinner. Unless some financial provision was previously made, the widow often faces severe economic hardship. Third tithe — contributed by a large number of individuals — helps alleviate this situation.

“The United States government has instituted for the nation a very similar program. It is the Social Security system. In essence, Social Security is merely a federal insurance program subsidized by employers as well as employees… (Many people don’t realize, however, that Social Security benefits and pension plans are generally designed as supplements to retirement income, rather than as a means of sole support. Husbands and breadwinners should therefore develop — if possible — other means of strengthening their financial security. One good way of doing this is through life insurance).”

Regarding life insurance, the article in the 1960 Good News magazine, Vol IX, No 01, pointed out:

“The problem of owning insurance continues to perplex many in the Church.  It is often reasoned by those who don’t have insurance that it would be showing a lack of faith to be ‘protected’ by insurance.”

Brian Gale, our Pastor in the United Kingdom, sent us the following remarkable comments:

“I was in the insurance industry from 1961 to 1993 and when I first started attending church in 1973, I was concerned as to whether insurance was in accord with biblical principles.   My mind was soon put at rest.   It was interesting though that the local minister told me that he had taken out an insurance policy when younger but when he came into the church he cancelled it as he would never reap the benefits at age 65.   He died aged 85 last year and Christ has still not returned!”

This is very true. We don’t know when Christ will return and for that very reason it is good to have protection through insurance.  Not only that, insurance is constantly upgrading and today, one does not have to wait until one is 65 years old to reap the benefits, depending on what kind of insurance one has, but with a cash value policy, one could access money much sooner, and the money is tax free and penalty free.  So if the local minister wouldn’t have cancelled the policy, which appeared to have been a cash value policy, and depending on how much he was putting in each month, he would have accumulated a lot of money at the time of his death.

What does the Bible say about owning insurance, even about saving for the future?  Notice what the prophet Agur said in Proverbs 30:24-25: “There are four things which are little on the earth, But they are exceedingly wise: The ants are a people not strong, Yet they prepare their food in the summer.”  The ant prepares and SAVES for the winter and they are wise and not lazy creatures, that don’t need to beg for food. Just as Solomon said in Proverbs 6:6-8: “Go to the ant, you sluggard! Consider her ways and be wise, Which, having no captain, Overseer or ruler, Provides her supplies in the summer, And gathers her food in the harvest.”  Preparing for hard times is the wise thing to do which is why the Bible advises “laying up for a rainy day.”

Jesus also applied the principle of saving for the future in Matthew 6:19-21, where He said: “Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal; but lay up for yourselves treasures in heaven… For where your treasure is, there your heart will be also.”

The 1960 Good News magazine, Vol IX, No 01, stated: “Does this mean that Jesus frowned upon saving for the future? Not at all! Jesus sanctioned saving for all eternity—‘treasure up for yourselves treasure in heaven.’ That saving Jesus will give us as a reward when He returns. But Jesus warned not to treasure up ‘for yourselves’ earthly savings. Don’t save for yourselves-save for others! A good man does not lay up for himself. He saves for his grandchildren! A wise man does not build up a bank account only for himself, but for his family.”

God is our source and provider for everything we need (Philippians 4:19) and the Bible teaches that saving money is a wise practice for many different reasons.  God provides for us through money and it is our job to manage that money well (Matthew 25:14-27) and saving money allows us to be prepared for the future, which is a good thing.  Planning ahead and saving money makes it easier to accomplish goals and God certainly urges planning ahead, as in the story of Joseph which not only saved the nation of Egypt but also the people of Israel and the lineage of Christ (Genesis 41).

Now what about today? There are many different types of insurances available today. Do you know about life insurance, the difference between Term, Whole Life, Variable, Universal, and Index Life?  Do you know about the tax advantages of cash value in life insurance such as tax deferred growth, tax free withdrawals and tax free death benefit?  Yes, insurance can most certainly be a financial life saver and there are so many different benefits for having it.  When it’s used properly, it can help a family during a major illness or disability; provide replacement income for the loss of a spouse; it can rebuild a damaged home; it can pay for costly medical bills during a prolonged stay in a nursing home.  Is it a lack of faith when we purchase insurance?  Not at all!  Insurance can be a wise way to protect the assets and income God blesses us with and He also instructs us to prepare during good and bad times, which demonstrates proper planning.  He also wants us to provide for our families (Proverbs 13:22).

The following is stated in “Finance 101, Saving Your Future-World System Builder (2015)”:

“Life insurance isn’t a fun topic, but it’s a critical part of your financial strategy.  People don’t often talk about it.  Most don’t understand it. Few want to buy it. Even those people who buy it don’t necessarily understand or appreciate its importance in building and preserving wealth.  As a result, a lot of people don’t have any life insurance protection.  If they do, most don’t have enough.  Today, people have all kinds of protection.  They insure their house, cars, phones, and appliances. They even buy travel insurance for their vacations.  But when it comes to life insurance, people remain skeptical. The most important insurance that protects their family and their children is not taken seriously.  Life insurance doesn’t insure your life. It insures your family’s ability to continue on without being financially devastated.  A good number of people believe that they won’t die anytime soon.  Why would they need life insurance?  Some take it easy by just signing up with their employer’s group life insurance.  There’s no need for a medical checkup. Others get it free from their company.  However, the company may not provide enough coverage, and if their employment terminates, they don’t have protection.  They may also have difficulties buying individual life insurance if they have medical problems and need more coverage.

“Do stay-at-home parents need life insurance?  Yes, they do. A lot of people think life insurance is for the breadwinner only.  But stay-at-home parents should have protection to replace their valuable services to the family. Without them, these services can cost a lot.

“Do single people need life insurance? Most people buy life insurance to take care of their spouse and children. However, single people buy life insurance for different reasons.  They have loved ones to take care of, they may start a family soon and want to buy when the cost is lower or while they are healthy and insurable, they are in a business partnership and want to protect their business, they want to take advantage of the tax benefits of savings in the policy and have coverage at the same time, or they may want to leave a legacy to the cause they are passionate about.”

The 1960 Good News magazine, Vol IX, No 01 stated: “Accidents can happen to YOU! The experience of our own church members proves it! God is not going to prevent you from reaping the consequences of carelessness. But He will deliver you. Thanks to God we can always pray to be healed or to be protected from infection in case of injury. No insurance can replace faith. Otherwise God would not have provided life and disaster insurance for His people in His own law in the form of third tithe. If you are one who believes that insurance replaces faith, that is merely proof that you probably DID NOT HAVE ABIDING FAITH IN THE FIRST PLACE.”

The 1972 Good News magazine, Vol XXI, No 03, added: “If a person looks to the physical only for his source of security, protection and peace of mind, he is showing a lack of faith toward God. God is our Rock, our security, our peace and our whole life. We must still trust in Him, over and above any physical source, and beyond anything we are able to do. Insurance is never a substitute for faith.  Faith is that assurance that God will deliver you out of every difficulty you may become involved in. Paul was in several shipwrecks… often lost property. God alone could deliver Paul from death in such accidents. No insurance could have! But savings in the form of insurance would compensate Paul for his loss.  That is how God wants us to view the question of insurance and third tithe…

“What is the purpose of life insurance? Simply to provide funds to compensate for the financial loss resulting from a death. Does that mean it is a lack of faith to purchase life insurance? Not at all. It is proof that we believe that God means what he says — that human beings are temporal, mortal and shall DIE! (Hebrews 9:27).

“Some may feel that because they won’t personally benefit from the proceeds of their life insurance, they don’t want to spend money on it. What selfish and foolish reasoning! Life insurance can be of personal benefit. A cash value policy builds funds as a form of savings. But primarily, life insurance is for others! A man’s family responsibilities go on even after he is dead — especially if he dies prematurely. What better way is there in today’s society to lay up for our children than through life insurance?

“Of course, sound judgment must be exercised in its purchase. You should ask yourself, ‘How much, if any, can I afford? Will it curb my ability to serve the work financially? How much insurance coverage is right for my situation?’ We must be balanced!

“The three basic coverages needed by every family for their own as well as the protection of others are liability, property and life insurance. Amounts and coverages must be based on your needs and your budget. These are best determined in consultation with a knowledgeable, experienced and trustworthy insurance agent. Insurance can be a physical means to meet a spiritual obligation. Through insurance (sharing the risk with others for the benefit of all) you can provide for the future and protect the present.”

Time is precious and we are only growing older each day.  Look at the frightening statistics when it comes to cancer. For example, 1 in 2 men and 1 in 3 women will have the risk of developing cancer during their lifetime.  Also 80 million Americans have one or more types of heart disease (www.cancer.org/cancer/cancerbasics/lifetime-probability-of-developing-or-dying-from-cancer).   Just because we are in the Church doesn’t mean that we are exempt from getting sick or dying.  There have been many faithful members who have gotten sick, who have gotten cancer, who have lost their lives.  In fact, God says that even Christians will die (compare again Hebrews 9:27).  Time is money and procrastination is the enemy of saving. We shouldn’t procrastinate and assume that nothing can happen to us because we do not know what will happen tomorrow (James 4:14).  Often times we may come up with excuses why we don’t “need” to get insurance yet, even though we KNOW we need it for our loved ones, and Christ tells us, “If you KNOW these things, blessed are you if you DO them” (John 13:17).

Lead Writer: Michael Link