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World Bank chief warns of financial crisis World Bank chief Robert Zoellick on Saturday warned of a "new and more dangerous" time in the global economy...
US Recession Risks Rises The threat of a new recession is rising in the United States, economists say, as they slash their ..
Unsafe US debt remains safe haven US Treasury bonds remain a hot ticket for investors looking for a low risk investment in a volatile market despite the unprecedented ...
US borrowing tops 100% of GDP US DEBT shot up US$238 billion (S$287.2 billion) to reach 100 per cent of gross domestic project after the government's debt ceiling was lifted
Consumers consumed by debt The average consumer may feel far removed from the heated debates concerning the $14.3 trillion debt ceiling. But the truth is...
Financial Crisis II. Get out of debt now There is increasing talk among traders and financial analysts that the latest slump in global share markets
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Insurance: Auto or manual?

 

Scriptural Financial Freedom Obtaining God's blessings

 

 

 

 

 

 

Insurance: Auto or manual?

First of all: Is insurance scriptural? The Bible has no mention of insurance and therefore assumed to be not scriptural. However the principle for providing for the future is. Just like Joseph, it would be wise to store up for your family that they may survive a famine. In today's uncertain economy, having a plan to provide for your family is a command in scripture.

Is purchasing insurance a lack of trust in God? This a principle based on wisdom. Biblically, insurance is about provision, not protection. If you did not purchase insurance and you are married with children, it is possible that your spouse would have to go on welfare (by the government). Your family's needs could go unmet. Insurance would give your family the opportunity to move on properly.

 

How much insurance do I need? First you need to determine what are your goals. Secondly, what kind of insurance is needed. Then decide the amount needed for long-term liquidity needs.

What if I can't afford the amount of insurance needed? The you need to get as much insurance as you can for the dollars available. You also need to have a plan concerning insurance usage, and financial alternatives.

Do insurance needs change? Yes, they do. You need to periodically evaluate your insurance needs. Circumstances will call for it, for example, marriage, children at different stages, income and lifestyle changes.

 

The Bible does show many ways to overcome any financial crisis. Many of these principles are laid out in our successful course, the Scriptural Financial Freedom series. To learn more, you can download the Small Groups kit from our estore.

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Financial Freedom Tips & Toolbox

Today's Pick: Money, God and us Money, God and us by [Ian Goligher]

 

 

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