Insurance Blog

Life Insurance: Integrating Security with Faith

Tue, 27 Oct 2009 16:55:25 GMT

Many believers want to know how to integrate faith in God’s provision with the need to provide for loved ones upon death. As we consider life insurance, we understand that it is not a substitute for faith, but an act of biblical stewardship and sound planning. Scripture frequently instructs us to save, plan and prepare to be good managers of the resources with which God has blessed us (Luke 14:28-30, Proverbs 13:11, etc.).

HOW MUCH LIFE INSURANCE DO YOU NEED?
A survey from August 2003* revealed that fewer than half of surviving spouses who received life insurance benefits described the coverage as “adequate.” Many companies recommend coverage of three to ten times the annual income based on age. While these rules of thumb are helpful guides, the brief worksheet below will better estimate your coverage needs.

WHAT TYPE OF LIFE INSURANCE IS RIGHT FOR YOU?
Generally speaking, level term life is the best value for your dollar. Most companies offer a level term premium for a specified period of years—10, 20 or 30 years. Whole life and its varieties are an option for the individual who is looking for a cash building benefit as well as a death benefit. In general, life insurance is not recommended as a retirement fund, but it is an option for those who struggle to save or invest. Credit life insurance is rarely a good value since you can usually purchase more coverage with standard term insurance for less cost.

FINANCIAL IMPACT ON SURVIVORS
The death of an immediate family member who generates income leaves a significant financial impact on survivors. If something happened to you, would your income need to be replaced to allow your family the same lifestyle? Basic ongoing expenses would still need to be met. Additional needs that may be met from the proceeds of a life insurance policy include:
• Funeral costs as well as other final expenses, such as probate fees, medical care, etc.
• Federal and state estate taxes
• Mortgages and any other large debts
• Education for your children

GIFTS
Many believers like to leave a positive impact on their local church or favorite ministries when they die. Establishing a financial gift is a wonderful way to bless ministry with your life stewardship when planning your estate. While life insurance can never replace the emotional loss experienced by death, it can provide peace of mind to survivors. Insurance doesn’t undermine faith; it’s where faith and security unite.

AG Financial Insurance Solutions

*Financial Impact of Premature Death, research conducted by MetLife, data compiled August 4-19, 2003, p. 2, 4 & 5.

Informed Life Insurance Decisions

Tue, 27 Oct 2009 14:20:54 GMT

Insurance can be difficult to understand but to put it simply, insurance is the transferring of risk. When you purchase a life insurance policy, you transfer the risk to the insurance company so that you can focus on taking care of your family. There are several different types of life insurance policies available.

Universal life policies will cover you through age 120, but you are going to pay for this long-term coverage. The greatest advantage of these policies is the long period of coverage and the earning cash value throughout the years. If you need the peace of mind that the insurance policy will always be there or know money is tight and you won't save money, then a universal policy might work best for you.

Purchasing a level term life insurance policy is a great way to have the coverage you need during the early years of your family. A level term policy will keep you covered for a set amount of years (such as 10, 20, or 30 years) while you are raising your family and while your financial obligations are generally greater. This type of policy serves the purpose for right now. If anything were to happen, your family is taken care of.

Only you know your situation but seeking out information on life insurance will help you make an informed decision. If you would like additional information or need help identifying which option might be best for you, contact a representative today at mail@agfinancialinsurance.com or 866.662.8210.

Nikki Russell, Account Executive & Marketing Coordinator
AG Financial Insurance Solutions

Playground Safety

Wed, 02 Sep 2009 18:53:43 GMT

It’s a beautiful Sunday morning and the kids in children’s church can feel the energy the sun is bringing. You start thinking about how great it would be to take the children outside to play on the church playground. It’s time to think about playground safety.

One of the best things we can do to prevent accidents from happening is to have adult supervision, the more adults the better. Don’t you remember as a kid watching the adults to see when they turned their head so you could take that daring jump out of the swing or go down the slide backwards? The fact is when more adults are around kids are less daring.

Make sure the children are not wearing anything that dangles (i.e., jewelry and anything with a drawstring). Seventy percent of playground accidents are due to children choking from getting an article of clothing caught on a bolt, v-shape opening or other gaps in equipment. It’s also a good idea to do a once a month check on the equipment looking for such things these listed above and make sure all sharp points, corners or edges have been sanded or filed.

For more information on playground safety, view the Church Mutual brochure:

Safety At Your Playground

Is your church prepared for any emergency?

Wed, 02 Sep 2009 18:51:16 GMT

Imagine, as the leader of your church, receiving a call and being told the church was “fully engulfed” in flames. Or, what if you lived near a river that began rising and threatened to flood your neighborhood, including the church building? Think about someone having a heart attack during worship. Would you have a plan?

Nearly every week we hear of a congregation that has experienced some kind of loss or emergency. What church is ready to handle the onslaught of questions from reporters, police, members and the community?

Many churches would be found ill-prepared to handle even the slightest emergency. Yet more and more are realizing that a plan is needed and they are responding. These churches recognize the direct correlation between investing time now and their ability to respond correctly should an event occur. By doing so, not only will they potentially protect lives and property, but their reputation as well.

When contemplating emergency situations, think of these things:

Internal Events: These are those situations that occur that directly impact your congregation. Such as a flood, storm, medical emergency, theft, bomb threat, misconduct, or the sudden injury or death of a staff member or minor. A church should assess whether they have the plan, personnel and resources in place to respond.

Local or Regional Events: Though your congregation may not be directly impacted by an event, they may be called upon to respond to such emergencies as an explosion, weather, civil disturbance, or chemical spill. Your congregation can act as a positive force in the event by providing shelter, medical care, supplies, or meals. But to do so, you will need to have a plan, personnel and resources in place ahead of time.

National Events: We hope and pray that there will not be another catastrophic event such as a terrorist attack, massive hurricane damage, or a huge earthquake. But we know such events do occur. And once again, instead of responding with a “knee-jerk” reaction, a much better approach is to have a plan, personnel and resources ready so that you can respond immediately in a positive, safe, and planned way.

How can a church be ready for such events? The answer is, start now! Pull together people who may already be responsible for emergency preparation and response, whether they are from your church or community. Seek to pull together a team, both in your organization and within the community that can meet and plan. Share ideas and seek assistance from organizations that are already in place preparing for emergencies. Train and practice, so that when and if an event occurs, you will be counted as both good and faithful in your response.

For more information, please consider the following:

AG Financial Insurance Solutions Risk Management Guide

Christian Emergency Network

Ready.gov

FEMA