Crown’s MoneyLife Basic series book Investing and Insurance provides a good foundation for figuring out what plan and investment strategy is best for you and your family. The book is split up into two sections where they do a deep dive into each topic.

Insurance

Crown starts by defining what insurance is and explains the way Americans view insurance. They also explain what the Bible has to say about insurance and use biblical references to support their statements.

When choosing an agent you should verify their credentials and expect their cooperation. If you get anything less you should be prepared to walk out. Crown goes into great detail to discuss the different levels of insurance and what is covered under each type of insurance. They discuss home owners insurance, auto, health and life insurance and provide some great tips on ways to save money on your policy.

If you are new to insurance and looking to get a better understanding of how insurance works this book will be very helpful. They wrap up the insurance section with a helpful insurance worksheet that will help you determine how much coverage you need for each policy.

Investing

Investing is a very foreign concept to people starting out in managing their personal finances. People have a tendency to believe that they should be investing in stocks but they don’t know what to buy or how long to hold. Crown’s section on investing provides a solid foundation for the beginning investor.

They start with ten keys to successful investing and Crown tells us a story about an oilman who lost his fortune after being overly leveraged in his business. Christians often forget that tithing does not guarantee their financial safety. God requires us to be wise with the money He has given us to manage.

The ten keys are discussed and explained in depth in the book and worth reading. They keys are:

1. Formulate clear Investment goals
2. Avoid personal liability
3. Evaluate risk and return
4. Keep some assets debt free
5. Be patient
6. Diversify
7. Consider long-range bonds
8. Focus on what you own
9. Know where to sell
10. Train family members

Once you’ve set some investment goals Crown moves on to creating a investment strategy. They discuss 5 tiers of investments to help you meet your goals. Each tier is explained with examples to help you get ideas on how to invest in each tier.

1. Secure Income Investments
2. Long-term Income Investments
3. Growth Investments
4. Speculative Growth Investments
5. High-Risk Investments

Crown goes on to talk about investing through your job, getting investing advice and important goals for investors. Use this book to help you get a better understanding of insurance needs for your family and to meet your investment goals for your life.