Friday, 25 May 2018

C Columns

Your Daily Bread: Should Christian Purchase Insurance?

By Terry Frisk

Entering  the  phrase  “Should  Christians  buy  insurance?”  into  an  Internet  search  engine  will  return  a  huge  list  of  articles  on  the  subject.  Some  argue  that  buying  insurance  demonstrates  a  lack  of  faith  that  the  Lord  will  provide  in  times  of  need  (Matthew  6:25-34),  while  others  state  that  having  insurance  is  an  act  of  stewardship  to  care  for  our  family’s  well-being  (1  Timothy  5:8).  But,  there  could  be  another  reason  for  Christians  to  purchase  insurance:  helping  others  who  are  victims  of  adversity.  

There  are  many  forms  of  insurance,  including  life,  medical,  homeowners,  automobile,  disability  and  several  other  risks  that  could  result  in  financial  hardship.  All  of  these  insurance  types  rely  on  many  people  contributing  to  a  pool  of  funds  that  can  be  used  to  pay  for  losses  incurred  by  some  of  those  participating.  

I  have  paid  thousands  of  dollars  in  auto  insurance  premiums  for  40  years  without  experiencing  a  claim  (except  for  a  few  windshield  repairs).  Even  though  auto  insurance  isrequired  by  law,  I  take  some  solace  in  knowing  that  my  contribution  to  the  insurance  poolhas  helped  someone  recover  from  an  accident  somewhere  else  in  the  world.  And,  if  I  am  ever  in  an  accident,  I  would  certainly  want  to  make  sure  anyone  involved  is  made  whole.  

Similarly,  carrying  homeowner’s  insurance  not  only  provides  for  protecting  my  family’s  shelter,  but  also  aiding  others  whose  home  is  destroyed  as  a  result  of  a  catastrophic  event.  

Life  insurance  began  as  benevolent  societies  that  used  membership  payments  to  care  for  the  families  of  deceased  members.  In  this  context,  paying  into  an  insurance  pool  to  support  others  experiencing  a  loss  is  certainly  loving  your  neighbor  as  yourself  as  Jesus  proclaimed.  

While  the  Bible  does  not  specifically  address  insurance,  it  is  clear  that  Christians  must  provide  for  their  families  and  help  others  in  need.  We  can  accomplish  both  through  buying  appropriate  levels  of  insurance.  Having  insurance  is  an  important  part  of  living  bythe  principles  Christ  taught.

Terry  Frisk  is  a  partner  in  the  firm  B2B  CFO,  providing  financial  advisory  services  to  small  businesses.  He  also  counsels  individuals  on  personal  financial  matters  through  the  Cathedral  of  the  Rockies  Budget  Counseling  ministry.  He  may  be  contacted  through  e-mail  at This email address is being protected from spambots. You need JavaScript enabled to view it.

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