FAQ: I'm young and healthy so why do I need life insurance?
If you are under the age of 60 you have probably heard of the crowdfunding site GoFundMe.
On GoFundMe’s website you will find millions of campaigns trying to raise money for undoubtedly worthy causes; independent film makers creating documentaries, veterinarians volunteering at no-kill animal shelters, and faith-based communities serving the homeless.
As seasoned financial professionals and family advocates, we at QX-Financial have become increasingly aware of the growing number of families that have been taking to the streets, holding up signs, desperate to raise money to pay their rents, cover medical emergencies, and even fund funeral expenses.
After viewing dozens of campaigns in the medical, memorial and emergency sections on GoFundMe, we were shocked by how pervasive these kinds of family financial crises have become.
Looking at these stories of deeply personal tragedy, we quickly realized that every cross-section of our society has been affected: rich and poor, black and white, young and old.
At this very moment, in the United States alone, there are 773,091 campaigns on GoFundMe which mention life insurance. Unfortunately, in the vast majority of cases, the loved ones stricken by tragedy were either uninsured or under-insured.
Too many people are unaware of how affordable life insurance can be and how important the living benefits of owning life insurance are.
A quality term insurance policy for a healthy individual in their 20s or 30s could cost less than $20 a month for hundreds of thousands or even millions of dollars of coverage.
Many policies will advance a portion of the benefit payment in the event of a medical emergency. This is just one of the many examples of the living benefits of owning life insurance.
For those of you who still think life insurance is unaffordable at a couple hundred dollars a year, why not start a GoFundMe campaign for yourself?
Doesn’t it make sense to raise a few hundred dollars to guarantee financial security and independence for you and your loved ones?
Or does it make more sense to roll the dice and hope that if something happens to you that your friends and family will be able and willing to fork over hundreds of thousands of dollars when a crisis hits you?
We encourage you to go on GoFundMe, read the stories, and discuss the need for protection with your family and a financial professional from QX-Financial.