Acquiring insurance is an important step toward becoming financially self-reliant. Members of the Church of Jesus Christ of Latter-day Saints have been counseled by their leaders to live within their means, put their lives in order, provide for their futures, and obtain adequate insurance to meet their responsibilities as parents. Elder Marvin J. Ashton offered the following counsel on insurance:

Appropriately involve yourself in an insurance program. It is most important to have sufficient medical, automobile, and homeowner’s insurance and an adequate life insurance program. Costs associated with illness, accident, and death may be so large that uninsured families can be financially burdened for many years. (“Guide to Family Finance,” Liahona, Apr. 2000, 42)

President N. Eldon Tanner also commented on the importance of having adequate insurance:

With rising medical costs, health insurance is the only way most families can meet serious accident, illness, or maternity costs, particularly those for premature births. Life insurance provides income continuation when the provider prematurely dies. Every family should make provision for proper health and life insurance. (“Constancy Amid Change,” Ensign, Nov. 1979, 80)

Having the proper insurance is an important part of fulfilling our responsibilities as parents.