Should Christians — including Catholics! — even have life insurance? What, if anything, does the Bible say?
Proverbs 13
In the Catholic New American Bible, Revised Edition (NABRE), Proverbs 13:22b reads: “The good leave an inheritance to their children’s children…”.
Now there is no question that the Bible treats the word “inheritance” in numerous ways.
Is ‘Inheritance’ to Be taken Literally?
‘Inheritance’ as Children
For example, in the Book of Psalms, chapter 127, verse 3, we see that “…sons are a gift from the LORD, the fruit of the womb, a reward.” (NABRE) Or, as the King James Version puts it: “Lo, children are an inheritance from Jehovah.”
So, kids themselves can be an inheritance.
But, Proverbs 13:22 is unlikely to be using the word “inheritance” to mean “children.” Or else it would seem to imply that a good person bears children for his grandkids, which doesn’t seem to make much sense.
‘Inheritance’ as a Habit of Doing Good
Of course, another possibility is that “inheritance” refers to the good person’s goodness itself.
The Bible Has Dire Warnings Against Greed
There can be little doubt that the Bible often refers to good deeds as “treasure” and cautions against focusing upon the accumulation of monetary wealth.
For example, In Matthew 16:19-20, the Lord warns: “Do not store up for yourselves treasures on earth, where moth and decay destroy, and thieves break in and steal. But store up treasures in heaven, where neither moth nor decay destroys, nor thieves break in and steal.” (NABRE)
And then, famously, a few verses later, we see: “No one can serve two masters. He will either hate one and love the other, or be devoted to one and despise the other. You cannot serve God and mammon.”
Ecclesiates 5:10-12 states: “Where there are great riches, there are also many to devour them. Of what use are they to the owner except as a feast for the eyes alone? Sleep is sweet to the laborer, whether there is little or much to eat; but the abundance of the rich allows them no sleep. This is a grievous evil which I have seen under the sun: riches hoarded by their owners to their own hurt.” (NABRE)
Doubtless, one of the best known Bible verses of them all comes from 1 Timothy 6:10: “For the love of money is the root of all evils, and some people in their desire for it have strayed from the faith and have pierced themselves with many pains.” (NABRE)
Still, before we assume that Proverbs 13:22 is speaking metaphorically about inheritance, we should at least turn a passing glance towards the previous chapter in the epistle to Timothy.
But the Bible Also Demands That We Provide for our Families
For there, in verse 8, it says: “…whoever does not provide for relatives and especially family members has denied the faith and is worse than an unbeliever.” (NABRE)
It is difficult to see this latter passage as anything but a straightforward entreaty to care for, and provide for, one’s family — in a monetary and practical sense.
This, I believe, is the correct way to view life insurance.
It’s a provision for your family.
The death benefit of a life-insurance policy has the ability to give your survivors the amount that you wanted — and perhaps planned — to earn for them, but never got a chance.
Oftentimes, being adequately insured makes the difference between a family that disintegrates after the death of a breadwinner, and one that is able to move on.
How Can You Fulfill This Biblical Mandate?
Start by taking a hard and serious look at your finances. What would your survivors’ asset and income needs be in the event of your death?
Let us help.
Call today for a no-cost, no-obligation review of your situation.
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