“But if anyone does not provide for his own, and especially for those of his household, he has denied the faith and is worse than an unbeliever.” (1 Timothy 5:8)
Please consider the following areas very carefully and prayerfully to decide what you should do to prepare for the future and care for your family. Most missions require certain levels of coverage and protection in each of these areas. We do not make such requirements because we feel the responsibility for such decisions should remain with you. You are better able to care for your family than even the best of organizations and institutions.
The fact that we do not require such coverage should not be interpreted to mean we do not think it is necessary. We do, in the strongest way possible, recommend you provide such protection for yourself and your family, and include the cost of it in your normal support budget. It is up to you to seek God’s wisdom as to the specific coverage and protection you should carry in each area.
EMERGENCY FUND
Planning ahead can save a great deal of grief when a time arises and it is necessary to return to the U.S. for either a family emergency or for time away from ministry. Time away from ministry should first be discussed with your CTEN Pastoral Care couple before making a public announcement.
TAX FUND
You can be sure “the tax man cometh” so be sure to regularly set aside funds to meet these obligations. As a self-employed independent contractor, in addition to income tax, you will be required to pay self-employment tax so plan accordingly! It is NOT optional!
HEALTH INSURANCE
The very nature of missions work increases your chances of encountering new viruses, dangers and disease. Some very reasonably priced health insurance plans are available through reputable agents. Your Pastoral Care couple has some they can suggest to you as needed. Also, we have information of Christian based organizations who share each other’s health care needs. They are not a traditional insurance program but could serve your health needs.
LIFE INSURANCE
Due to additional risks involved in missions ministry, we recommend adequate life insurance coverage be included as a necessary part of your budget.
RETIREMENT FUND
Social Security will not provide an adequate requirement for you. The government and we encourage you to set additional funds aside for retirement. Again, this should be considered part of your normal budget. There are many good plans available on the market. We can give you the same of the one we offer to our home staff, if interested.
A Will
We strongly suggest that you create a Will before departure and also consider if your country of service requires a Will specific to the country’s laws, particularly in the case of dependent children. You will need to establish legal guardianship in the tragic case that something happens to both parents. In many countries, a Will written in the USA would not be recognized.
A Budget
We strongly recommend you establish a reasonable budget for your ministry and personal support, and not go to the field underfunded. A good guideline is to have 75% - 80% of your budgeted amount raised before leaving for the field. Send your budget to your Pastoral Care couple so we can better understand your needs. We can help identify items that may have been forgotten or suggest modifications to consider:
Remember to include the following items in your budget:
An emergency fund sufficient to fly the entire family back to the U.S. (This is required for some countries.)
Vacation Funds – Include funds for scheduled time for rest and relaxation so you can continue to be effective in ministry.
Tax fund to pay self-employment taxes in addition to income tax. This is NOT optional if you are a U.S. citizen (with few exceptions).
Funds for a vehicle, importation and legal work.
Funds to cover insurance (Life, Health, Auto, etc.)
Legal Documents
We have added a resource for your use as you may have a need for various legal documents. They can be found at cten.org/missionaryresources.
It is not a sign of weak faith or a lack of faith to plan ahead for possible dangers or problems. In fact, the Scriptures teach just the opposite. It is prudent, wise and godly to care for your family and plan ahead for the storms of life. Please be sure you are doing so. Each of these areas are a legitimate need which should be included in the budget you use for raising funds. If you have questions about any of these areas, please contact the CTEN home office at (800) 872-5404.