Why You Need Life Insurance

A generation ago, unexpected loss of a loved one could be seen as an isolated situation. But today, a quick search of GoFundMe delivers a difficult reality check. Simply type “funerals” into the search field, and behold—799,182 results (on this particular day). Almost 800,000 tales of the sudden loss of a loved one, compounded by an acute financial crisis. Scrolling through the many names and faces of tragedy can be tough. And yet it allows us to see the cost of putting off buying life insurance in a whole new way. The truth is, life can be breathtakingly uncertain, but the financial impact of a sudden, unexpected loss doesn’t have to be. With life insurance, you can know—without the shadow of a doubt—that if you or your spouse or partner died unexpectedly, your family would be financially secure. And you can know that for less than a $1 a day. The Pros and Cons of Crowdsourcing GoFundMe and other crowdfunding sites are fabulous for stretch goals, for helping people get back on their feet after a setback, and for inspirational charity projects. These modern tools let regular people pool needed capital easily and safely by collecting small donations from large numbers of people and sharing your story far and wide on social media. An uncertain amount of money, reduced by service fees and taxes, or a predetermined tax-free payment? But assuming you’ll rely on a crowdfunding site if tragedy befalls? Which would you prefer during a time of intense stress—a new technology that enables panicked fundraising by your grieving family, or a time-tested financial tool that delivers funds immediately to your beneficiaries in a cash lump sum to pay immediate expenses, such as the funeral and burial, and in addition, all the day-to-day bills and debts that will have to be paid as life continues on. An uncertain amount of money, reduced by service fees and taxes, or a predetermined tax-free payment