Is your life insurance policy a fundraising website?

Did it seem like 2016 was a year everyone was ready to put behind them?  As we all looked forward to a fresh start in 2017, we were eager to begin new workout routines, try out our new gym membership, start new hobbies, or maybe just start with a new outlook on life.  In the last three months, we have had four deaths in our little circle of friends.  Not how we planned starting 2017, but how many of us actually plan for this?  Some do actually, by preparing a will, a trust, and getting our finances in order, including purchasing life insurance.  And it’s not just purchasing some life insurance, but enough life insurance.  Unfortunately, life insurance doesn’t seem to be on the top of the priority list for some, and in those cases, a series of unfortunate events begin to play out.

When no life insurance is present, lately it seems more and more families are forced to rely on a “Go Fund Me,” page to help with the cost of a funeral.  But what about after the funeral?  The expenses the family endures continue and that mother or father who passed away is no longer contributing to the household income.  So, now the questions are: can the family still afford to stay in their home?  Do they have to move and the children have to attend a new school? Can they afford to pay for the children’s extracurricular activities?  Can they afford to pay for the children’s college?  Does the once stay at home mom, now need to find a job and pay for daycare?  And it goes on and on….

Losing a loved one is a long difficult process to experience and work through; it’s even more difficult when financially burdened. When someone close to you or in your circle passes away, it’s usually a time to reflect on your own life.  Am I a good person?  How will my family get along without me?  But the more important questions are:  Do I want my child to fulfill his dream of going to medical school?  Do I want my spouse to enjoy his or her retirement instead of working to the age of 80?  Do I want to be a burden on my family after I’m gone?  No one wants to be a burden, but everyone wants to show their family how much they love and care for them.

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