Life Insurance

[washn'wear]

I am just curious....since being out 7 years now I am learning about a lot of things that I just blew off before...I can vividly remember -- especially when we were doing extra ABS pushing in twigs that life insurance was always considered bad. Just curious now what you other outies think.

[doojable]

As I recall, there was some nonsense about not looking for the Hope if you bought life insurance.

All that talk stopped around here when the miniMOG started selling life insurance through some multi-level marketing scheme.

[socks]

The concept of life insurance is sound, whether it be one of the types of policies available or your own savings plan. The idea is simple - when you die how will your affairs settle up, who depends on you and your income, how much, etc.

I have a life insurance policy and the idea is to help balance outstanding debts and the loss of income to my family, should it happen sooner than later when they are dependencies on it. I don't want to leave them with a burden. I don't have a huge amount over what I might expect to need but it's there. A good person to consult on it with would be a tax accountant or financial planner who can look at your overall situation and make some recommendations. My advice - a little bit goes a long way, and it's good to talk it through now when you're healthy and alive.

"The Hope" - avoiding life insurance because of that is hogwash.

Sound financial planning is based on what you know, and can reasonably expect. If you're a Christian and expect a "return" of Christ at some point, you don't know exactly when that will be. A Christian's expectation for His return isn't based on the certainty of a due date, it's based on the certainty of the event. Not when it will happen but that it will happen. A person can "hope" for that event to occur and likewise expect that it may not in their lifetime. It's reasonable to assume that God would have us plan accordingly, either way, towards the future, whatever or when.

There are many ways to plan - have at it! And just as you'd avoid pressure-cooker sales methods for life insurance, avoid pressure-cooker sales methods for "abundant sharing". Don't let anyone shame or guilt you into giving them your money. My advice - give thoughtfully, care-fully, with a dash of random kindness mixed in for good measure. :)

[Twinky]

Life assurance is always good for people who have dependants. Nothing can compensate for the loss of a spouse or parent, but there is no need to compound difficulties by adding financial problems. If a husband dies, leavinga wife with small children, the wife may not be able to work (especially if she hasn't had a paying job for a while) but she and the children still need to live. If a wife dies leaving a husband with small children, assuming he has a job, he may be able to use any funds to help pay for care for the children while he is at work.

If anyone has a mortgage (gasp!), how will the debt be paid if there is only one income (or even no income)? No-one would wish their nearest and dearest to lose the house as well! The rest of the family may have to re-home in due course but that should not be forced upon them at a difficult time.

If one is simply a single person with no dependants, life assurance would only benefit any beneficiaries under a will so you need to think who they are and why you would want them to benefit from your death.

And then there is the person who is a millionaire (or better) who has so much money that it would be impossible to spend it all. Such a person (or their family) may not need life assurance. But posts here suggest that most visitors to the cafe are not in that category!

Since you raise this question, can I just add one thing, only slightly off topic:

Make a Will. Or if you have one, review it (review every 5 years or after every significant life change, anyway).

Make sure that the people you want to have your "leavings" are the ones who will actually inherit. If you are living with someone you are not legally married to, this is especially important.

[waysider]

Uncle Harry was the one who was so opposed to life insurance. Anything that took money away from the ministry was viewed as evil, be it a food pantry to feed the poor, a charity to help crime victims or the purchase of life insurance. I remember dr. w going into one of his pseudo tyraids at an SNS or someplace about how life insurance was "off the word" because our survivors "ought to be able to believe God to supply their needs". Naturally he used several scriptures to "prove" he was right.

Funerals and burials are expensive. How could it possibly be wrong to have some sort of plan in place to defray the cost to your survivors?

[Ca_dreaming]

Thanks Socks and Twinky you insite is sound advice.

[JustThinking]

As I recall, there was some nonsense about not looking for the Hope if you bought life insurance.

All that talk stopped around here when the miniMOG started selling life insurance through some multi-level marketing scheme.

Who is/are the miniMOG?

[washn'wear]

Im not sure bout Dooj's area-- but in ours there was a "movement" phase with A.L. Williams doing a term product with an MLM twist....mid 80's if I recall.

My understanding now is that A.L. Williams was sold to CitiGroup which sells the old ALW product under the "Primerica" name....if any of you bought from your "leadership"....

Edited July 4, 2008 by washn'wear

[doojable]

Yep! A.L. Williams - that's the name of the company at the time.

What a fiasco that was. I won't elaborate - but too many folks got used in that endeavor.

[oenophile]

Since you have been taught the class and know how to believe, why do you think you need life insurance? It's just the Devil's way to get your money and rob you and the Ministry of a blessing, honey. You say you are concerned who will take care of your spouse and kids if you die? Why not teach them to believe and ABS too. Keep the money in the household. (But don't expect the Ministry to take care of your family if you can't believe to stay alive, we are about moving the Word and don't expect your fellow believers to take care of them either because they are believing like you aren't and sending in all their money above their legitimate needs to us.) Just keep sending in those money orders, we prefer them to checks since checks sometimes bounce, you know.

Here are a few money saving tips so you can increase your ABS'ing so you can get blessed more.

1. Limit yourself to four sheets of toilet paper per trip to the throne.

2. Don't waste money on tampons. Use and re-use a sponge instead and believe God you won't get toxic shock from it.

3. Don't go on a vacation. Look at but don't buy a travel magazine and look at the pictures. That way you can redeem the time and "go" more places.

4. Get rid of your pets. They are only body and soul, you know.

5. Hitchhike more and drive less. This will save you money and give you an opportunity to witness. Remember it is available to believe you and your kids won't be mugged or raped when you hitchhike...but blame your believing and not us if you do.

Hey, and while you are at it. Get rid of the jack and tire tool in your car. It is available for you to believe that your balding tires will never blow out on you ant that you will never encounter a road hazard. And as for saving for your old age by putting money in a 401k, forget it. Why not go to your personnel office at work and ask them if they will match your ABS instead of contributing to that stupid plan that will just give the ol' Bird more money to play with? God knows we need the money more than you. Lawyer fees and court costs are expensive, you know.

Edited July 4, 2008 by oenophile

[waysider]

Holy cats, Oenophile

You got it down to the very script they used!!

Cool post!!

[now I see]

Talk about being brainwashed!  How embarassing to think we actually could consider the veracity of H.E. Wierwille's statements.  Some business leader?  Really?

Having been the one to pick up the pieces after two deaths, if you do nothing, you are burdening the living with undue responsibilities and demands in dealing with the loss and dealing with the details of what's left behind.

I advocate a will and a trust in addittion if you have any children, a spouse, or any assests totaling over $5000.00.  

It is much nicer for and less of a load for your loved ones and relatives to bear the burden of dealing with the government and your estate, as well as their greif, if you have planed ahead with them in mind after you're gone.

[washn'wear]

Thanks guys...I am looking into selling Life and etc. I have a friend who is a managing partner at New York Life....he probably makes in a year what the entire twi budget is...anyhow he has been hoping I would try and come on board..I am in the beginning stages and have "not quit my day job" as it were. I whole heartedly believe in appropriate insurance and still remembering hearing all that bunk when we had our babies -- thinking omg - my bother and sister-in law-- who are the assigned relatives and god parents would have nothing to take care of 2 more kids than there own....now their's are grown but mine are not. We both have LI through work but are going to get more...Hubby thinks I need to covered for at least 1,000,000 -- to hire someone to do everything I do ...that would be -- oh 35-40,000 in interest a year...anyhow ---thans for your repsonses.

on a side not - We are starting are son (16) on an IRA now. If he puts away small -- 100 or so (from his Mcdonalds pay) a month for the next 10 years he can leave it after that and do pretty well by the time he is 60-70

[ChasUFarley]

Both hubby and I have private life insurance policies. As we have two children, a mortgage, car payments, etc. it only makes sense to be covered in case of the worst. His work doesn't offer it and I'm not employed full-time anymore (I'm per diem at a hospital and have my own business on the side.) We have full medical coverage through his work but not life insurance.

[coolchef]

if you have a mortgage etc,it is wise to have an insurance to pay it off if you kick unexpectedly

any one without life insurence is inviting pure misrey for loved ones left behind,this is first hand experince