A key component of your and your family’s financial health is the life insurance coverage you have for yourself and your spouse or partner. Life insurance provides important protection for your family to replace your income or cover final expenses.
- Eligible retired clerics receive a group life insurance benefit as a participant in the Clergy Pension Plan. Should you die after you retire, your beneficiary will receive a benefit equal to four times your highest average compensation, with a minimum value of $10,000, and a maximum value of $50,000. See Group Life Insurance for details.
It’s recommended that you periodically review the value of the existing life insurance policies for yourself and your spouse or partner and determine if the amount of your life insurance coverage is appropriate for you and your family.
See Life Insurance in the Learning Section to learn about the different types of life insurance. Talk to your financial advisor about your life insurance needs.