Hi Friends,
We all work hard to earn our income and need to be as healthy as possible to do so. We also must protect any possessions we have been able to obtain, like our home and car. And then there is the increasing need to safeguard our identity. All these require plans that will protect us and our loved ones in case the unexpected does happen. Hear is a sobering verse:
“Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever.” 1Ti 5:8 NIV
This earthly life is delicate. If this past year and a half has not taught us anything it is that our health, and lives themselves, are fragile. Time is our greatest asset because we just do not know for sure how much of it any of us have. While the more years we live, the closer to leaving this world we can expect, yet the truth is, no one is guaranteed to see their senior years. Just take my Baby Girl for instance. No parent should ever have to bury their child, yet this is our reality in this fallen, broken world. But it is because of these very real situations that we understand and appreciate just how precious life here is, and so we have to do all we can to protect it, as well as provide for anyone we leave behind. It would not be truly helping any of us if I did not remind us that Jesus is the only insurance, and assurance, we have for the life after this one. Never forget we were created in the Image of God, so that means we are all eternal beings…but whether we live forever, or die forever, is a whole other story. Before we delve into the worldly policies and plans we should have in place to protect and provide for our loved ones, please make sure your Eternity is secure too! So if you have not surrendered your life to Jesus as Lord and Savior, won’t you pray with me now?
Father, I know I am a sinner who cannot save myself. I have tried to live this life apart from You, but I cannot hold on to any peace, joy or sense of righteousness. I am empty inside and I need You. I believe You sent Jesus to die in my place, and pay for my sin debt in full. I ask You to send the Holy Spirit to seal me in Christ, now and forevermore. I thank You, Father, for loving me so much that You have provided security for my future. I thank You, Jesus, that You surrendered Your life for me so I can have Eternal Life. I thank You, Holy Spirit, for uniting me with the Father, for growing me in Christ and for granting me lasting and permanent protection from sin, self and death. Today, I am new! Hallelujah and amen!
Provide protection. Like our Holy Father, one of the most loving things we can do for those who are most important to us, is make sure they are provided for, as well as protected from any unwelcome issues. And one way to do this is to have protection plans in place to shield us from allowing a difficult situation to become even worse. Another word for these plans, of course, is insurance. We must begin to look at this needed budget expense as an investment, instead of an annoying useless cost. They can lessen any potential harm when life is, well, life. When we love someone, it is vital that we “insure” that they will be taken care of if anything unexpected happens to us, especially if you are in a household where only one person is the breadwinner. Insurance is not only wise, it is an excellent way to show them that we love them. For instance, if the provider were to pass away, having a life insurance policy in place can make this heartbreaking situation a tiny bit more bearable, since they can focus on grieving instead of stressing out about how they are going to keep a roof over their heads. My point is, some people have the completely wrong idea about insurance. It is meant to put the burden of any loss upon the company that holds the policy, instead of on our shoulders. And it is the one thing we all must have that we never want to use. But again life is, well, life. It is unpredictable, so it is the most loving and sensible and intelligent thing we can add to our budgets.
Protect it all because it is all temporary. Whether it is our bodies, our home, our car or even our identity, things in this world are all fragile and decaying. “Wow, Diane that sounds so encouraging!” Well, I am not trying to be morbid here, but I must speak the truth if I really want to help us, right? Below are seven needed insurance and protection policies we all must have, especially if you are married and have a family.
1- Health insurance: most of us are able to get some type of health insurance through our employment. This will, hopefully, be at a reduced premium since the company can negotiate and buy in bigger bulk. If you are not able to get insurance this way, please check out the various agencies, most of which are from the government, that will provide you some direction with this. Of course, if you have low to no income, are young and very ill or if you are disabled, there is Medicaid that can help take this burden off your shoulders. And then, for the elderly and a select few others, there is Medicare after you reach the required age limit of 65 years or prove to be permanently disabled. Whichever way you get it, health insurance is vital because, our health is our second most precious asset. Good health adds to this Abundant Life and helps us to love and serve God and others, so get protection.
2- Life insurance: as the saying goes, there is a 100% chance that, sooner or hopefully later, every human will die. Again, this is not doom and gloom, this is our reality. And to be honest, if you are a Christian, then this is good news. Who wants to stay in this corrupt, broken, dying world any longer than we have to when Paradise is waiting for us? Ok, on the bright side, life can be so incredibly wonderful that we want to preserve this joy for our loved ones, should we pass from this world. Knowing that you have made things a little less stressful for those you cherish should you go to your Eternal Home, will add to your ability to live life with less pressure and more pleasure. Also please don’t fall for the lie that, “the moment you get a life insurance policy, it means you are going to die!” As I said, sooner or later, everyone is going to die, so provide for those dearest to you…or like the verse says above, you just be “worse than unbeliever”!
The standard is 10x your annual income. So if you make $50,000 per year, then you should have a $500,000 policy. This way your family can invest the principle, and potentially, live off of the interest…that’s the idea anyway. And by the way, TERM LIFE is what you want to get every time. Never mix your insurance with any “investments”! Insurance is to protect against problems, that’s all. You can get a much better Returns on your Investments (ROI) elsewhere. Don’t fall for their lies, agents make all sorts of commissions on these higher premium, low return policies. So 10x your annual salary and only term life insurance.
3- Homeowner or renter’s insurance: for most people, our homes are probably the most expensive investment we will make. It is pure foolishness not to protect it against fire, weather or theft. Damages will come, so we might as well be protected against them. We also usually have all sorts of stuff in our homes too, right? So whether you own or rent, protect those possessions too. Get the highest policy you can afford, with the highest deductibles too. Remember we have that Emergency Fund that should cover those deductibles anyway, right? So no need to pay higher premiums when we are prepared for the higher deductibles. Again, we work way too hard to have these gifts, our residence, possessions and income, be thrown away. And remember we are stewards of them all anyway, so being responsible to safeguard them is just plain smart, and a way we can show our gratitude to God Who has given them to us.
4- Auto insurance: a car is like a moving weapon…and even if we are always paying attention and driving perfectly…yeah right…we have no control over the other guy in the car next to us. Wow, I am being so cheerful today, aren’t I? But this is another reality in our complex life. Many of us need cars to get to work, take care of our elderly parents who don’t live with us, get to school, and so on and so on…so we must insure against any potential problems. Some states do not require this type of protection, but it is not sensible to pass this valuable expense up. As with our homes, we can increase the deductibles so our premiums can be lower, but I will say it again, life is, well, life, so get protected.
5- Disability: this one is a bit more complicated as there are so many different types you can get, with different time limits on when they start and how long they last, as well as how much they pay out, but it is another intelligent insurance to carry. What it is meant to do is protect you in case you get injured and cannot perform your job. It gives you some extra time where they will give you income to keep yourself going, as you heal or make other plans. When you get this type of insurance, please make sure it is what is called an “own occ” policy, which means you will get paid if you cannot perform your own occupation. For example, if you don’t get this type, and lets say you are a surgeon who has injured your hands and cannot perform surgeries, but you can still flip burgers, the policy won’t pay out! So “own occ” policy will protect you if you cannot do the job you were trained to do. Our income may be our third most important asset, so protect it.
6- Long term care: Mr Ramsey recommends to get this one after you turn 60 years old. This will help pay for any assisted living or nursing home, if you should require them at an older age. We all may hope to take care of our loved ones for the rest of their lives, but sadly there are some illnesses that are beyond our scope to give them the care they need and deserve. There is no shame in using these important facilities after we have done all we can. Again this insurance helps with the burden of what can be a very expensive, and difficult decision. No one wants to be a burden when they are older, so protect yourself, and your loved ones, with this insurance.
7- Identity theft: this is not really an insurance but a protection plan. It should give you administrative help should your identity be stolen by some nefarious person. In most cases, it takes hours and hours, upon hours, to restore the integrity of our name with all the various agencies and companies we can be associated with. So having this policy will provide a group of experienced helpers who will do all this grunge work on our behalf. These plans will reimburse us for the costs, everything from phone bills to legal expenses, that come along with restoring our identity and clearing our name up to a million dollars. And since most plans cost under $150 per year, this is a very well worth budget line item.
Get protected. This is not brain surgery here, my Friends, we have things in this life that need to be thoughtfully taken care of, and so we must take care of them. The peace of mind that we have protected and provided for ourselves and loved ones, enhances the Abundant Life. I am all for anything that does that. How about you? Then won’t you join me?
Until we meet again, keep lifting your eyes to God, He’s closer than you think.
<>< Peace, Diane
