Let’s talk life insurance shall we. My husband died in January and he did not have life insurance. We had it and he let it lapse, not paying the bill. I had life insurance when I was little my mom got me the one that you pay up until you are 18 but she took money out on it and so it went down the drain to where I didn’t have any life insurance. The hubs and I wanted to make sure we were covered but that time got away from us. When we finally remembered he got it and paid for it. We were going to wait on me because I didn’t really have any bills besides student loans so I would only need enough to bury me. We added the kids on as riders. Things got tight for us so we let it lapse and didn’t pay on it, because it wasn’t a year old the insurance company would not let me get the insurance because he hadn’t paid in about 3 months. Since I am not money hungry it didn’t bother me I said oh well I asked and kept it moving.
When my husband died one of my blog buddies set up a gofundme account. The account was not to pay for the funeral as I had already worked out an arrangement with the funeral home. The money was more so to tie us over to help cover expenses of household bills since the hubs was the sole provider. Nowadays…when people die they go straight to gofundme to set up an account to pay for the funeral. A lot of times the money is actually needed for the funeral but don’t always believe the hype…a lot of people use it to just get extra money just to have. It’s not really used for anything. They use a story and people pay up! But is crowdfunding the new life insurance?
Let’s say Bob dies of an accident….Bob’s family contacts the news and they set up a gofundme account to pay for the funeral. Let’s be real…depending on the story people will pay and you can raise up to 10,000+. More and more people are becoming like Bob…they may or may not have life insurance but it’s easy to set something up to have others pay. This isn’t the new life insurance and I would like for people to stop using it as one. Life insurance isn’t expensive if you have it, but we didn’t have the funds. When we finally did have it we never got around to getting back on track with payment. That’s not anyone’s fault but ours. I would never go to Gofundme to get money to pay for a funeral…that’s not anyone’s responsibility but mine.
The money that I did receive from Gofundme went to pay my rent for 3 months because even though it looked like a lot of money …gofundme actually taxes you and takes a good chunk. It did not go to pay the funeral at all! I used it to pay my rent and I have the receipts to prove it (you know people think you are always lying so I had to back myself up). Luckily by the grace of God my hubs job covered the funeral expenses for me out of the goodness of them being who they are so I didn’t have to pay but trust me the arrangements were made to pay on time even if I had to let go of some things…we were going to get that paid without GoFundme.
I now have life insurance for myself and my kids and I pay a monthly fee that I will gladly cough up every single month! It’s worth it to pay 60 bucks a month than to ask for money. I know that some of us have to do it but if you can avoid begging for money…pay a monthly bill for life insurance. You can pay $20-$60 monthly and have enough to bury you.
Do you think that times have changed and people think that crowdfunding is easier to pay for funerals? Do you think that this is something new for future generations? Do you have life insurance?