Not sure why someone would question this, but here are 3 reasons why you need life insurance living in St. Louis.
#1 The Murder Rate
St. Louis has been known for a while now for its high murder rate. Their have been hundreds of gang related shootings as well as innocent people who have been killed throughout the years.
In 2017, there were a reported 199 homicides (many of which went unsolved) according to a St. Louis Post Dispatch article.
In May 2018, 11 people were killed in 11 days in St. Louis, but the number of murders so far this year easily exceed 50 killings.
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#2 Funeral Expenses
Funerals are expensive (yeah a couple thousand dollars). People die everyday leaving the burden on their loved ones to come up with money they don’t have or beg others via a GoFundMe. Not a good look and no one should have to grieve and worry about money at the same time. Losing a loved one is already hard enough. And parents, you should definitely have a life insurance policy on your kids too (no matter how young they are).
Unexpected funeral expenses can lead families further into debt and poverty if they don’t have the funds. The narrative for most people usually goes like this:
- So and so got killed–and didn’t have life insurance
- A funeral can cost $3000-$5000 or more easily
- The family doesn’t have the money (or if they do–it’ll put them in a financial burden or cause them to go further into debt)
- Next you see the GoFundMe page going out on social media asking everyone to chip in to pay for the funeral
- The GoFundMe page rarely gets support because people have their own problems
- And so on…
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#3 Death Is Promised To Everyone
And there’s no way around it. Most people don’t like to talk about it or think about it (which is very naive). It’s not a matter of if, it’s a matter of when…
Here’s the scenario of someone who has life insurance.
- So and so got killed–but he had life insurance (say a $300,000 policy and was paying $30/mo for it)
- His loved one listed on his insurance policy collects the $300,000 and spends $5,000 for the funeral (and didn’t have to ask anyone for anything)
- There’s still $295,000 left for that loved one to take care of kids, cover wages that would have been lost, move out of town, etc
Big difference. Having life insurance, is more or less a sign of being responsible and proactive–instead of reactive.
In summary, obtaining life insurance is not expensive at all. In many cases, you can get between $5,000-$300,000 (or more) in coverage for less than $30/mo.
Check out SelectQuote.com to get a free quote. You’ll thank me later.
-Farlin Ave (@farlinave)
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