What You Should Know About Life Insurance

For many pastors and ministry families, financial planning often centers around immediate needs: paying bills, supporting a family, saving for retirement, or preparing for a child’s education. But wise financial stewardship also means planning for the unexpected.

That’s where life insurance comes in.

Life insurance is one of the cornerstones of good financial planning because it protects the people you love most in the event of your death. While no one likes to think about those possibilities, having a plan in place can provide tremendous peace of mind, both for you and for your family.

At its core, life insurance is about caring for others. It’s a practical way to ensure that your loved ones are supported financially if something happens to you. And for ministry families, whose financial situations can sometimes be more complex or unpredictable, that protection matters deeply.

What is Life Insurance?

Life insurance is a financial benefit paid to your designated beneficiaries after your death. Those funds can help your family navigate both immediate expenses and long-term financial needs during an incredibly difficult season.

In practical terms, life insurance can help:

• Replace lost income
• Cover funeral or medical expenses
• Pay off debt
• Help fund a child’s education
• Or even provide ongoing care for a family member with special needs

For many families, life insurance provides stability during a time when life feels anything but stable.

Geneva’s life insurance plans, offered in partnership with MetLife, are designed specifically with ministry families in mind. They offer meaningful protection along with access to additional resources and support.

What Life Insurance Plans Does Geneva Offer?

Geneva provides a Basic Life and Accidental Death & Dismemberment (AD&D) Plan for eligible participants, along with several additional coverage options that can be added based on your needs.

Basic Life Insurance

The Geneva Basic Life Insurance Plan provides:

• $25,000 for most active employees
• $5,000 for retired PCA Teaching Elders (without AD&D)

If death or a defined loss occurs due to an accident, beneficiaries also receive an equal AD&D benefit in addition to the basic life benefit.

This coverage is available to full-time employees (30+ hours per week) of PCA churches and like-minded organizations living in the United States.

Enrollment in Geneva’s Basic Life and AD&D Plan is required before participating in additional life insurance options.

Additional Life Insurance Options

Geneva also offers several Term Life Insurance supplemental plans that can be added to the basic plan. These plans provide financial protection while you remain eligible under the plan. If you pass away during the coverage period, the policy pays a benefit to your designated beneficiary. Term Life Insurance plans are generally more affordable than Permanent Life Insurance since it does not build cash value and only provides coverage for a set period.

The Geneva Term Life Insurance plans include:

• Geneva Standard Life Plan – Coverage starts at $250,000, with a structured reduction beginning after age 49. This means the benefit amount decreases as you age. However, your assets ideally are increasing as well, and these assets can provide coverage for your dependents as you age.
• Geneva Enhanced Life Plan – Employees elect a fixed dollar amount of coverage in $10,000 increments to provide up to six times their annual salary, with the option to add insurance for their spouse &/or children.
• Geneva Dependent Life Plan – Employees elect a fixed dollar amount of coverage in increments of $5,000 to provide up to six times their annual salary, with the option to add insurance for their spouse &/or children.
• Geneva Voluntary AD&D Plan – Provides added financial security in the event of death due to an accident and the event of a covered injury.

These options allow ministry families to tailor coverage based on their stage of life, family needs, and financial responsibilities.

For example, a pastor with young children and a mortgage may need a different level of coverage than someone nearing retirement with grown children and fewer financial obligations.

How Much Life Insurance Do You Need?

One of the most common questions people ask is: How much life insurance should I have?

According to the nonprofit Life and Health Insurance Foundation for Education, the better question is: How much money would my family need if I were no longer here?

A simple way to begin thinking about coverage is this:

Your current and future financial obligations minus your existing financial resources = your life insurance need.

Current financial obligations include:

• Mortgage or rent
• Everyday living expenses
• Debt
• Future education costs
• Retirement needs for a spouse
• Long-term care for dependents

The goal is to have enough coverage to care well for those who are dependent on you.

For pastors and ministry leaders, this conversation can sometimes feel uncomfortable. But planning ahead isn’t driven by fear; it’s an act of stewardship and love.

When Should You Review Your Coverage?

Life insurance is not something you set once and never revisit.

As your life and ministry seasons change, your insurance needs may change as well. It’s wise to review your coverage during major life transitions, including:

• Marriage
• The birth or adoption of children
• Buying a home
• Changes in ministry role or compensation
• Paying off significant debt
• Approaching retirement

Even if your circumstances haven’t dramatically changed, reviewing your coverage every few years can help ensure your plan still reflects your family’s needs and priorities.

Planning Ahead Protects What Matters Most

For ministry families, life insurance is about more than numbers on a page. It’s about protecting the people entrusted to your care.

Geneva’s Benefits Advisors understand the unique realities of ministry life and are available to help participants think through their options, answer questions, and determine what coverage makes sense for their situation.

Get Started Today

Whether you’re enrolling for the first time, reviewing your current coverage, or simply trying to better understand your options, you don’t have to navigate those decisions alone.

To learn more or schedule a conversation with a Benefits Advisor, email benefits@genevabenefits.org or fill out the form on genevabenefits.org/life-insurance.