Preparing for the unthinkable
Why you should consider life insurance

It’s always the right time to think about life insurance. If you are among the 41 percent of Americans who do not have life insurance, you should learn why it's important to think about purchasing a policy. If you do already have coverage, you might want to review it, and consider whether you have enough.

The purpose of life insurance is, of course, to prepare your family for the unthinkable — for the possibility of life without you. If something happened to you, you would want to: 
  • Cover your family’s daily living expenses

  • Pay outstanding debts, such as the mortgage, credit card balances, and car loans

  • Pay funeral and burial expenses

  • Leave a tax-free inheritance

  • Increase your family’s financial security and peace of mind

A good life insurance policy will do all these things.

If you are considering life insurance for the first time, there are some questions you can ask yourself to determine how much you will need. If you already have a policy, you should still ask yourself these questions periodically because you may need to adjust your coverage level as your life circumstances change: 
  • What will my family need at my death to meet immediate obligations, such as uncovered medical bills, funeral costs, estate costs, debts, mortgage, etc.?

  • How much future income will be needed to sustain my household?

  • What will be needed to pay for my children’s education?

  • How much tax-free benefit do I want to leave to my heirs?

You will need to remember that there will be times when your life insurance needs will likely increase — major life events that add to your obligations, such as marriage, the birth or adoption of a child, or buying a new home. Likewise, there are times when your life insurance needs will likely decrease, such as when you pay off your mortgage, or when your children are grown and live on their own.

These are the general considerations for anyone thinking about life insurance. However, if you work for a Church of the Brethren-affiliated employer (church, retirement community, agency, camp, or district), there are good reasons for buying your life insurance through Brethren Insurance Services.
  • This employer-sponsored group insurance is less expensive than individual coverage.

  • Coverage is available for your children as well.

  • If you die in an accident, your death benefit is doubled.

  • Customer service is quick and responsive — only a phone call away.

  • Check with your employer about the coverage levels available to you and your spouse. Also, ask about your guaranteed issue amount — the amount you and your spouse have available without answering medical questions.


So, take some time to review your coverage. If you are interested in purchasing a policy, and work for a Brethren employer, speak to your HR representative about this. If you are a Brethren pastor, you may reach out to Jeremiah Thompson, Director of Insurance Operations, at 800-746-1505, ext. 3368, or by email at jthompson@cobbt.org .