On the crowdfunding website, GoFundMe, 22,000 open cases are looking to raise money for funeral expenses. The average amount of money, $2,200, gets raised in those funds, which is not enough. Today’s funerals are $8,000 on average. Don’t put your family in the position of having to ask for money online.
Reasons not to rely solely on go-fund-me
- No guarantee you will get what you need; there is a possibility that they won’t reach their go-fund-me goal to cover the funeral expenses.
- It can disrupt your family’s grieving process. Grieving and not knowing how much you will receive from friends/family and knowing they might not get enough can increase stress and make the grieving process even harder.
- You can leave your loved ones with financial stress/difficulties. Your loved ones will not likely receive funds to cover funeral costs and other financial expenses they are left behind with, such as debt, car loans, and the mortgage. Ask yourself; Will they be able to stay at the house you bought together? Do they have to take out loans to cover expenses?
If there is anyone who relies on you financially, you need to have life insurance or another plan in place. If you are reading this and you do not have life insurance or enough of your own money saved to replace your income, your family will likely go through financial difficulties; if something were to happen to you.
Life insurance can take away the financial stress of losing a significant other. The paid-out benefit gives you more space and time to focus on what is most important: taking care of yourself and your family, who will have to keep going. It will also give them time to grieve and additional time to deal with funeral arrangements and provide them with the funeral they deserve.
Reasons to properly plan and get life insurance.
- Peace of mind that your family will be taken care off
- The insurance company will cover funeral costs
- With the death benefit, you can cover all other bills such as debt, mortgage, and tuition for your children.
- Your family will be able to afford to stay in their home and avoid the stressful situation of finding a new place to live while grieving.
- It can protect long-term plans such as retirement or college
How Much Life Insurance to Purchase?
How much you need depends on your lifestyle or your future goals. Life is not a one-size-fits-all proposition, and neither is your insurance policy. The amount you need can be:
- Needs-based. The amount your loved ones need to survive financially.
- Goals-based. The amount your family needs to reach their financial goals (tuition, retirement)?
- Legacy. What are you hoping to leave behind for your family?
Self-Enroll Below To Protect Your Family With Life Insurance
With our quoting tool, you can calculate how much life insurance you need to cover all your finances.
All you need to have to calculate your coverage amount are the financial obligations you would want to meet if you died and the financial resources you already have.
Factors such as the amount of debt you have, your mortgage, and the tuition for your children play a role.
Once you know how much you need, you can compare the policies of different companies.
Policy Engineer is contracted with over 50 of America’s top insurance carriers and can help enroll you in a wide range of programs.
Make sure your family can continue to live your lifestyle financially without being put in the position of having to ask for money online.