Financial questions and online help

[ Back ]

Do I have to raise my own support?

No. IMB missionaries are fully funded through the Cooperative Program and the Lottie Moon Christmas Offering®. This is the backbone of Southern Baptist missions. The only support that needs to be raised is prayer support!

What kind of salary do you provide?

We provide an adequate system of support that meets basic needs. We know you’re not in it for the money! Monthly support includes a base salary and cost of living supplement (field parity). The base salary remains constant, but the supplement may be adjusted up or down depending upon the cost of living in your particular country. Housing and work-related transportation are provided on the field, so basically your only expenses each month will be for your food and personal utilities (assuming the place you go has ever heard of utilities).

What sort of benefits and insurance do you provide?

The IMB provides comprehensive medical insurance and modest life insurance. There are no retirement benefits provided through the basic ISC, Journeyman or Masters programs.

We also provide travel insurance. You will learn more about this at the interview conference and orientation.

When does the financial support begin?

Support begins the first day of orientation (which is a travel day) and continues until your last day on the field. It is normally paid by direct deposit on the last business day of every month.

What about my student loans?

Student loans are often deferred until you get back. You may go ahead and start paying them, but your payments must be within the limits of $75 per month if you are single and $125 per month if you are married.

Many times student loans are more than the debt limit set by policy. This does not necessarily disqualify you from service because our regional office can draft a letter to your lending institution explaining your employment in a nonprofit organization. We have not had a new journeyman tell us that these loans could not be deferred.

What about my credit card debt?

Get the debt paid down to within our debt limits of $75 per month if you are single and $125 per month if you are married. It is always best to go to the field debt free.

What about my car payment?

Most people will sell their car before coming to orientation or just after leaving orientation. If you choose to keep paying for your car (for when you get back), you will need to write a letter of how you intend to get within the debt limit.

What about my house mortgage?

Some people sell their homes while others will rent them out while they are overseas. If you rent, have someone here in the states manage the property for you. A letter will be required from you explaining your plan of action to be within the debt limit.

What about using a credit card overseas?

Having a credit card is convenient but as always you should be very careful when and how you use it; perhaps only using it when traveling or for an emergency. Theft could be a problem or, more likely, fraud. Reputable stores in urbanized cities may be OK using the card for purchases.

In other places, you will want to go to a local bank’s foreign currency exchange to buy local currency. Then you will have a single transaction for which to look on your statement.

If you go this Visa/MasterCard route, you ought to consider getting a debit card from our Federal Credit Union. (You will get information regarding the name and services available while at screening conference and orientation). With a debit card, the money comes right out of your stateside account with no cash advance fees, which might take two months to clear. They also monitor the number of transactions and can stop payment automatically as a precaution for our international personnel.

How will I exchange my money on the field?

Depending upon the country, you might be able to go to a bank and write a personal U.S. dollar check and receive the balance in local currency. In other places they accept nothing short of a piece of paper with a picture of a deceased American dignitary on it.

Most likely you will either use your Visa or MasterCard at a bank to get a cash advance (but watch out for fees), or receive a cash advance from your mission treasurer (whereby you write a monthly personal check to the IMB to clear your personal account).

What health insurance is available upon returning to the States?

The IMB provides full medical coverage for up to two months after completion of service (for a two-year term of service). After this, other coverage will become necessary.

Besides finding your own insurance company and purchasing a policy, there are basically TWO ways that someone might secure continuing coverage when they leave the IMB.

The first is to continue the current coverage that an active IMB person has. Approximately two months before leaving service, the Benefits Department will notify the person leaving that they have the option for electing "carry-out" medical coverage. This option can be purchased for up to 12 months.

The Office of Finance will supply the enrollment form(s); Adams and Associates administers the program for the IMB. The medical plan in continuation or "carryout" is essentially the same as on the field, except you move to a U.S. basis for benefits and:

(1) co-pays are required for most physicians and other medical providers
(2) dental and vision is not included
(3) there is a network (PPO) requirement to receive maximum benefits

The second option could be to purchase short-term medical coverage on your own. Adams has made arrangements with a company called FORTIS. This coverage can be reviewed and purchased via the Adams web site as follows;

Go to our Adams & Associates International Web Site. At the bottom right of the home page, click on MEDICAL under the "Products" category.

With both options, the individual (and not the IMB) is responsible for the payment of the insurance benefit.

Adams and Associates International
Serving Those Around the World exclusively since 1980
P.O. Box # 5845, Columbia, SC 29250-5845 USA
Telephone: (803) 758-1400 or (800) 922-8438
Facsimile: (803) 252-1988
E-mail: aai@aaintl.com

[ Up ]