A Holy Plan: Why Financial Stewardship Is a Catholic Duty
- Guest Contributor
- 3 hours ago
- 4 min read
By the Wheaton Agency
In the quiet basement of St. Mary’s Church in New Haven, Connecticut, a young parish priest named Father Michael McGivney faced a heartbreaking reality. Widows, newly bereaved, would knock on his door, desperate for help. Their husbands — often the sole breadwinners — had died unexpectedly, leaving families not only in grief but in financial ruin. Children were at risk of being sent to orphanages. The Church, stretched thin, could only do so much.
Father McGivney didn’t just pray for a solution. He built one.
From that basement, the Knights of Columbus was born — not merely as a fraternal organization, but as a living testament to Catholic social teaching and the corporal works of mercy. At its heart was a simple but revolutionary idea: mutual aid through life insurance. Every member would contribute, and when one died, his widow and children would be cared for. It was a plan rooted in dignity, solidarity and foresight.
Today, the Knights of Columbus holds over $123 billion in life insurance in force. But the principle remains the same: to love one another as Christ loves us, even in death.
The Catholic Call to Stewardship
In our modern age, financial preparation is often misunderstood. It’s seen as something for the wealthy, or something to be done only when death feels imminent. But as Catholics, we are called to a deeper understanding — one that sees planning not as a luxury, but as a moral responsibility.
In meetings with clients, I will say, “Everyone is going to die. Not everyone’s going to have a long-term care event or disability, but you individually as a person will die, and you should have a plan around that reality.”
This isn’t morbid. It’s profoundly Christian.
The Catechism of the Catholic Church teaches that we are stewards, not owners, of our lives and possessions. Everything we have is a gift from God, entrusted to us for the good of others. Ensuring financial protection, especially for end-of-life, is an act of stewardship. It’s a way to care for our families, to relieve them of burdens and to ensure that our final act on earth is one of love and responsibility.
Dignity in Death
Imagine a family left scrambling after a loved one dies. No will. No directives. No insurance. The grief is compounded by confusion, debt and uncertainty.
Now imagine the same family, but with a clear plan: burial wishes known, finances secured, insurance in place. The difference is not just logistical — it’s spiritual.
It’s reciprocal, too. The deceased loved one cares for their family through their planning, and the family can care for their loved one by following their wishes at the time of death.
This is the essence of our mission: to honor the person, body and soul, even in death. To plan is to love. To insure is to protect. To prepare is to serve.
Life Insurance as a Tool of Mercy
Life insurance is not just a financial product. In the Catholic worldview, it is a tool of mercy. It allows us to “buy dollars on a discount,” as I like to say — large sums of money for smaller monthly premiums. But more importantly, it allows us to live out the Gospel.
Father McGivney saw this clearly.
“Even though he was only a young man,” his biography, Parish Priest, says of Father McGivney, “he was filled with a lifetime of anger and frustration at the sense of doom that settled over nearly every family that lost its wage earner.”
He started the Knights of Columbus to save families. To prevent children from becoming orphans. To ensure that no widow would be left alone.
This is why the Knights of Columbus insurance program is not just a business — it’s a ministry. It’s a continuation of the Church’s mission to care for the vulnerable, to uphold the dignity of life and to prepare for death with hope, not fear.
Instruction for the Faithful
So, what should we do?
Start the Conversation: Talk with your spouse, children and parish. Discuss your wishes, plans and values. Death is not taboo — it’s a passage to eternal life.
Make a Plan: Whether you’re wealthy or living paycheck to paycheck, you can create a plan. Write your directives. Choose your burial preferences. Consider life insurance.
Seek Catholic Guidance: Work with Catholic financial advisors or organizations like the Knights of Columbus. They understand not just the numbers, but the faith.
Pray and Prepare: Ask God for wisdom. Reflect on your mortality not with dread, but with peace. We do not grieve as those who have no hope, as St. Paul reminds us (1 Thessalonians 4:13).
A Legacy of Love
In the end, financial preparation is not about money. It’s about love. It’s about ensuring that when we leave this world, we do so having cared for those we leave behind. It’s about living our Catholic faith not just in prayer, but in action.
Father McGivney’s legacy lives on in every policy, every plan, every widow who finds comfort in a check that says, “You are not alone.”
Let us follow his example. Let us plan with purpose. Let us insure with love. Let us die with real dignity — and live with hope.
