Go Fund Yourself

Lucas Zerbe

Most of us do not like to think of what we would do if tragedy struck us or our families. That is to be expected nobody likes to be reminded of the possibility of a major illness or injury. However, when looking at a recent survey I saw something that was very alarming nearly half of Americans (49%) could not cover an unexpected medical bill of $1,000 or more within 30 days. When asking what they would do if something like this happened the survey participants most commonly answered “Go Fund Me”! This is a fairly common idea in our society today it is called “Crowdsourcing” and despite the few examples you hear about on news or on social media more common than not it does not work.

New study published in American Journal of Public Health February 2022: Medical Crowdfunding and Disparities in Health Care Access in the United States, 2016 – 2020

  • 33% of GoFundMe campaigns are for medical expenses
  • Less than 12% reached their funding goals
  • 16% went completely unfunded
  • Raised an average of less than $2000 

Numbers do not Lie! Crowdfunding is not the answer. So, what is the answer?

  • Go Fund Yourself – Using Life with Living Benefits!
  • Example Case:
  • Married Couple with 2 Kids – Combined Income 74k per year lives in Wellington (33470)
  • Husband: 38 Male
  • Wife: 31 Female
  • Kids: (Son – 5) and (Daughter – 7)
  • Let’s Calculate how much this family needs.
  • LifeHappens.org (Life Calculator) Click Here: https://lifehappens.org/life-insurance-needs-calculator/

Quote

This family is young so placing a 20 Year Term in place to lock in their health classification is a good option. You can go back in a year and sell an IUL or other permanent option. However, for only $4.00 a day this young family has Funded itself if anything goes wrong, they will not be wondering if a GoFundMe will rescue them from financial disaster. Plus, as the agent you made a $1,100 commission.

#GoFundYourself

More Blog Posts

How to effectively cross-sell to your customers!

When I think of cross-selling, it makes me think about car shopping. Everyone goes and buys a car. Of course, there are many car options; the same applies to Health and Life Insurance. Think of Health Insurance like car selling. The client buys the car and needs gap...

The Big 3 of Life Insurance Marketing

The key to successful marketing is getting in front of consumers who want and or need your products. Determining who these people are is the difference between a successful marketing campaign or a failure. So, if you want to have the best chance to sell Life Insurance...

Meet our New Senior Vice President

Most recently VP Purchasing for TBC Corporation, a recognized leader in the replacement tire and automotive service industry.  Managed a team within the Purchasing Group, that sourced ~20M passenger and light truck tires of the...

Cremation is the wave of the future!

Let's be honest: NO ONE wants to discuss this—Cremation! I get it; it's nothing anyone wants to admit, but truth be told, we all will go sometime.  There are many challenges when talking about Cremation, but that shouldn't stop you as an agent from informing people...

Compass Health Headquarters gets a New Street Sign

In the distance, a giant, tall, white metal pole with a blue-lighted box sign can be seen. What sign is it? The Compass Health NEW sign, of course. What a better way of advertising to drivers passing by the office—now they can't miss us! It's been in the works for...

Bruce and Donna turn up at the Heat!

On March 2, Bruce and Donna attended the Florida Blue Suite with Florida Blue Miquel Cruz, Medicare, and David Wagner, South Florida Market President, for the Miami Heat Game. Utah vs. Miami. What a spectacular event. The score...

Just Ask in 2024

Ancillary Products are the key to protecting your clients from physical and financial disasters. These products pay excellent commissions to the writing agent. So why do agents sell so few of these products? Florida Blue Dental  Usable Accident, Critical Illness and...

MA-OEP is ending. Now what?

MA-OEP is coming to an end on 3/30. Let’s all work together to end it with a bang !! *On a side note the Hurricane SEP has been extended once again until 6/30/2024  One thing that you can start doing is setting up Medicare 101. By doing this, you will...

Introducing Our Brand New Compass App

We are excited to announce our NEW Launch of our redesigned Compass Agent App.  Here, you will find a multitude of things you can access:   You can sign in from the app for quick, easy access to upcoming webinars Book your appointments with your clients and new...

Call For a Free Quote