Improved medical technology means people are surviving illness and injury and living longer. Ministers who are disabled face the same consequences as anyone else, says Theresa Bergum, director of disability and worksite marketing for Minnesota Mutual. D.C. Since the passage of the Community Reinvestment Act, banks are required to lend money to inner-city churches, Josovitz says. As a result, the city is witnessing a massive expansion of churches. With that explosion comes risk.
Churches have large loans and depend on the presence of the minister.
Pastors owe it to themselves, their families, and their churches to have some type of protection should they become disabled, Josovitz says. Layers of Protection Selecting income-protection insurance can be confusing, primarily because of its many options. Bergum suggests the best strategy for sorting through those options is to focus on the needs for income protection. Replacing lost income . The main reason to purchase disability coverage is to replace lost income if a person becomes disabled.