Building wealth with life insurance
The main purpose of all types of life insurance is to provide a death benefit. Though, the purpose of cash-value life insurance, such as whole life insurance and universal life insurance, while primarily used to protect against the liability of premature death, has other purposes. This vehicle of protection also is used to build wealth with guaranteed (as “guaranteed” as guaranteed can possibly be in the world of financial wealth-building instruments) or variable compounding interest, toward many purposes — including college funding, charitable giving, business enterprises and retirement planning.
The process of seeing significant gains with life insurance usually takes years, but it’s a low-risk investment that can pay off very well. It’s important for consumers to research insurance companies to make sure the one they decide to do business with is solvent and financially stable. A company that is financially strong has the longevity to carry through on its promises to be there for a family at its time of need.
Many churches have large facilities that are necessary and well-used, but also are assiduously working to reduce mortgage debt so they can allocate more resources to fulfill the Great Commission of furthering the gospel. People can claim their church, a parachurch organization or other ministry as a beneficiary on life insurance policies, for any amount. One’s untimely departure to see the glory of the eternal Kingdom of God potentially could serve to significantly advance the already-Kingdom that we leave behind.
In eternal terms, the Kingdom of God has a firmer guarantee and far greater assets than any worldly insurer — endless wealth, in fact (I Chronicles 29:11-13, Malachi 3:10, Matthew 13:44-46).