Craig Ford, a wonderful pastor friend of mine, argues that Christians should obtain insurance for six reasons:
Insurance allows us to protect our loved ones.
Like indicated before, in a terrible event, the financial load is likely to fall on someone we love without it. 1 Timothy 5:8; 1 Timothy 5:9; 1 Timothy 5:10; 1 We should relieve our loved ones of that stress if I have the financial means to do so.
Insurance honors the biblical principle of reimbursing with compensation those who have been wronged.
Exodus 21:12-36 establishes a Biblical precedent for those who have been wronged being rewarded. The financial benefit of some types of insurance is just as likely to go to someone else as it is to us. This is why auto insurance is required in most places in the United States. This leads us to the following principle…
Insurance is often required as a part of government submission
“Let everyone be subject to the ruling authorities, for there is no authority except that which God has established,” says Romans 13:1. God established the authorities that exist today.”
Insurance can be a loving action towards a spouse or family.
Life insurance, for example, is a way for a husband to provide for his wife (Ephesians 5:25) even if he leaves the planet a little sooner than intended, as previously noted.
Insurance helps to ensure you will have something to leave to your children
Proverbs 13:22 is a well-known verse that says, “A decent person leaves their children’s children an inheritance…”
And, while I don’t believe the inheritance is solely monetary, it is undoubtedly a part of it.
For many people, life insurance is a simple way to leave something to their children.
On a side note, I appreciate what Warren Buffett has to say about this: “You should give your children enough freedom to do everything they want, but not too much freedom to do nothing.”
Insurance provides us with a way to ensure our debts are paid.
I’ve written on Christians and debt in the past, as well as what the Bible says about debt, but the short version is this: when we borrow, we should repay it.
Did you know that medical bills are the leading cause of personal bankruptcy?
And, while health insurance isn’t inexpensive, if it will save us money, we should avoid going without it if at all possible.
Side note: Medishare and Samaritan Ministries are two significantly less expensive health insurance solutions exclusively for Christians.
Is life insurance allowed in Christianity?
These two ideas appear to be at odds with one another, causing misunderstanding. Some Christians believe that having insurance (or relying on government help) demonstrates a lack of faith because you are choosing not to rely on God for provision. Others argue that we should employ the tools that God has provided, but they end up trying to account for every scenario (by buying an extra-large amount of insurance). They are inadvertently relying on the tools rather than God.
There must be a balance in everything in life. God can undoubtedly utilize life insurance, government help, and other forms of assistance to meet our needs, but we’ve gone too far if we see them as our own supply rather than God’s. Similarly, if we do nothing to address our personal needs and expect God to provide for them, we are out of sync.
It’s important to strike a balance between relying on God and being responsible with the resources we have. For everyone of us, that balance will be different.
What religion does not believe in life insurance?
To begin with, in the Islamic religion, Allah is in charge of life, death, and provision for his people.
Many people believe that taking out a life insurance policy involves interfering with Allah.
A life insurance policy may also be regarded as haram for the following reasons:
In the Islamic faith, a life insurance policy is termed ‘uncertain’ because the payout is not guaranteed.
Term life insurance only pays out to your loved ones if you die during the policy’s term. There is a degree of ambiguity because it is impossible to foresee whether or not this will occur.
- If someone takes out a life insurance policy, pays only a few months’ premiums, and then passes away, the life insurance company is treated unfairly because they have received less than they are giving out.
- Similarly, if someone buys a life insurance policy, pays the premiums until the policy expires, and then receives no money, this is unjust because the life insurance firm has received more money than they are paying out.
Because of these factors, standard term life insurance policies do not comply with Sharia (Islamic laws that regulate day-to-day living), making life insurance haram.
What does the Bible say about getting life insurance?
“But where does God fit into all of this?” Randy Alcorn asks in his book Money, Possessions, and Eternity. The greatest threat posed by insurance is that it can easily destroy our faith in God. Is insurance a God-given means of supply, or is it a theological end-run that eliminates the need for faith in God?”
Purchasing insurance does not represent a lack of faith in God; rather, it demonstrates smart forethought. As shown in 1 Timothy 5:8 NIV, God clearly desires us to provide for our family.
Anyone who does not provide for their family, especially their own, has betrayed their faith and is worse than an unbeliever.
However, we cannot be overly greedy or slack with our insurance plans. Life insurance, like a mutual fund, a stock, or a CD, is a financial tool. These tools have no moral implications. In God’s sight, the attitude with which the instruments are used decides if insurance is being utilized appropriately. Insurance should not be purchased out of fear, but out of confidence.
What do Muslims believe about insurance?
- The principle and practice of charging interest underpins traditional insurance. Islamic insurance, on the other hand, is based on tabarru, which treats a percentage of members’ contributions as a donation. This is why takaful policyholders are often referred to as participants.
Can Muslims invest life insurance?
However, many Islamic scholars believe that insurance, particularly life insurance, is illegal because insurance companies may invest the money in shares of companies that deal in alcohol, gambling, or entertainment, which is prohibited by shariah or Islamic law. Furthermore, the insurance company may lend money and generate interest, which is prohibited by shariah, a legal framework founded on Muslim principles of jurisprudence that governs public and private elements of life. Shariah law covers a wide range of topics, including politics, economics, business, and social issues.
Is it haram to buy life insurance?
When it comes to Islamic life insurance policies, many scholars agree that when takaful principles are applied to insurance, it is judged lawful from an Islamic perspective.
What is purpose biblically?
Clarifying what the Bible says about your mission is beneficial in three ways: It expresses the reason for your existence. It expresses the reason for your existence on this planet and why Jesus died for you. It defines your lifenot in terms of your thoughts, but in terms of God’s thoughts. It grounds your life on God’s character and call.
Does the Bible say life is a gift?
“Eternal life in Christ Jesus our Lord is God’s free gift.” “By grace you have been saved through faith; and this is not of yourselves, it is the gift of God,” says Romans 6:23. “Let the one who wishes receive the water of life without cost,” says Ephesians 2:8. 22:17 is a verse from the book of Revelations.
Is the Bible has something to tell us about life and who we are?
“As a result, I advise you to be unconcerned about your life, what you will eat or drink, or your physique, what you will wear. Those who follow me will never walk in the dark, but in the light of life.'” The Good News: If you walk with Jesus, you’ll always know where you’re supposed to go.