Term Insurance
The church for which I preach is not a part of a denominational organization that provides health or life insurance for its ministers. Since I then have to provide my own individual coverage, I am always seeking ways to reduce premiums and save money on insurance.
I have tried some group plans, but the foundation of my strategy was decided long ago. Since I also am not covered by social security, I chose to buy term insurance, which has lower rates than whole life, and invest the difference in a retirement fund that would allow me to retire with some comfort. It has worked out well for me. The key is to stick to a plan for the long haul.
I have tried some group plans, but the foundation of my strategy was decided long ago. Since I also am not covered by social security, I chose to buy term insurance, which has lower rates than whole life, and invest the difference in a retirement fund that would allow me to retire with some comfort. It has worked out well for me. The key is to stick to a plan for the long haul.
