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But deliver us from evil.
What does this mean?
We pray in this petition, in summary, that our Father in heaven would rescue us from every evil of body and soul, possessions and reputation, and finally, when our last hour comes, give us a blessed end, and graciously take us from this valley of sorrow to Himself in heaven.
Small Catechism
In the Greek text this petition reads, “Deliver or preserve us from the evil one,” or “the hateful one.” It looks like Jesus was speaking about the devil, like He would summarize every petition in one. So the entire substance of all our prayer is directed against our chief enemy. For it is he who hinders among us everything that we pray for: God’s name or honor, God’s kingdom and will, our daily bread, a cheerful good conscience, and so forth.
Large Catechism III 113
Included in this petition [is] whatever evil may happen to us under the devil’s kingdom: poverty, shame, death, and in short, all the agonizing misery and heartache of which there is such an unnumbered multitude on earth. Since the devil is not only a liar, but also a murderer [John 8:44], he constantly seeks our life. He wreaks his vengeance whenever he can afflict our bodies with misfortune and harm. Therefore, it happens that he often breaks men’s necks or drives them to insanity, drowns some, and moves many to commit suicide and to many other terrible disasters [e.g., Mark 9:17–22]. So there is nothing for us to do upon earth but to pray against this archenemy without stopping. For unless God preserved us, we would not be safe from this enemy even for an hour.
Large Catechism III 115–116
If we are to be preserved and delivered from all evil, God’s name must first be hallowed in us, His kingdom must be with us, and His will must be done. After that He will finally preserve us from sin and shame, and, besides, from everything that may hurt or harm us.
Large Catechism III 118