The Provided Housing Risk
Provided housing, the risk that if overlooked, can leave a new church with a possible financial risk that could cause it hardship, or it could place their minister's spouse and family--or other employed spouse and family--who lived in the provided home, in a hardship position with no place to live. Far too often, when provided housing is offered as part of the compensation package, nothing is done to plan for the resulting risk should the minister or other employed party pass away. Provided housing can save the church funds they would otherwise have to pay the minister or other employed person. The church is then put in the position of either asking the minister's family and spouse or the other employed's family and spouse, to leave with nothing to replace their home, or of doing their best to provide another home for the new minister and other employed person's family if an untimely death should occur during the employment period.
The solution we provide for this possible risk
Our provided housing benefit plan will provide funds to relocate the current family or funds for a new home for the new minister or other employee. Our plans offer you the choice of a 15 year plan, 20 year plan, 30 year plan, or longer. Each plan is purchased by the church, owned by it, and the church is the beneficiary, which puts them in the position to offer choices to meet the above mentioned financial risk should that be necessary.
Contact us today for a review of your risk and a quote to care for this unique risk. The following are necessary for a quote: birthdate of the minister or other employed person, their gender, the desired time period of protection, and the desired amount of protection. We look forward to assisting you with this important need for those who are so very important to your organization. It will give them peace of mind as well as assurance for your church that you are offering your employed person your best.
E-mail dphelps@phelpsfinancial.com
Fax (614) 899-6022
Phone (614) 899-6000 or toll free 1-877-471-7997 for OH, MI, WI, IN, & KY
06/03/2005