Life Insurance: Encouraging People To ‘GoFund’ Themselves
September 1, 2016 by Erica Davis
I’ve run across a few industry articles recently about crowdfunding as a last resort for people who lost a loved one who did not have life insurance.
My curiosity got the best of me, so I visited a popular crowdfunding website and conducted a search using the phrase “no life insurance.” The search provided nearly 30,000 results for people who recently passed away and did not have life insurance – leaving their families in need of financial support to cover final expenses, medical costs and much more.
I revisited the site a few weeks later and repeated the search. This time there were almost 33,000 results. The search results show only the fundraising campaign ads that were created to be available to the public. An unknown number of private campaigns also exist, and they are accessible only to those who were sent the link from the person who created a fundraising campaign.
The fundraising campaign ad descriptions range from deaths resulting from rare diseases to people who are on the verge of dying and can’t afford a burial. These stories can either tug at your heartstrings or break your heart. The donations raised range from a measly few hundred dollars to a whopping few hundred-thousand, depending on the campaign.
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