GoFundMe is not life insurance. Funeral expenses have increased over 220% since 1986.
13% of crowdfunding campaigns relate to funeral expenses.
Using GoFundMe to cover funeral expenses has become increasingly popular. It may cover the funeral, but not time off from work, the mortgage, and education expenses. The money raised often doesn’t last that long and most campaigns are unsuccessful. The average raised is $2,200 for funerals.
GoFundMe is capitalizing from this … the company acquired youcaring.com, a like-minded platform.
Life insurance is inexpensive, creates an instant estate, and prevent financial devastation.