By anonymous
I confess. I have “GoFundMe” fatigue.
I’m not talking about how my inbox gets inundated with requests from dozens of moisdos every December. Or how social media campaigns urging us to contribute to some worthy cause pop up on my feed every week. Chabad institutions rely on the contributions of others to keep the lights on. These campaigns are another manifestation of the incredible power of Chabad’s international network.
I’m referring to another type of fundraising campaign—the type we have seen too frequently. In the past 5 years, Chabad communities across the country have suffered too many untimely deaths of young fathers and mothers ripped away from their families all too soon. They have been Rabbonim, mothers, shluchim, community leaders ad members. They have left behind shattered families and stunned communities.
Sadly, life is not always visibly good. We can’t fathom with our limited intellect how it is good when a mother of young children is stricken with a terminal illness. Or how a beloved teacher not-yet-40 simply does not wake up one morning. The examples go on and on. The Rebbe frequently gave the bracha that Hashem should provide us with “tov hanireh v’hanigleh”—goodness which we can appreciate. Everything Hashem does is good, yet we do not always view it that way. The Rebbe’s bracha stressed that since Hashem has the power to do anything, he can and should help us see the good in His actions.
There is something we all can and should do to protect our families in the event of a tragedy: Buy term life insurance. It is so simple, yet too often overlooked.
Recently at a shiva, I overheard two young community members debating the benefits of a $1M life insurance policy. “Reuven, what good is $1 million if you have seven children?”
“It’s $1 million more than zero”, responded Shimon. Truer words were never spoken!
Nobody wants to acknowledge their demise. There’s an old joke that two things are guaranteed in life—death and taxes. The reality is that we are all on this earth for a limited amount of time. We put in the effort with our accountants and financial advisers to pay our taxes. So why shouldn’t we prepare for the other eventuality? Doing so involves less effort.
A term life insurance policy for a young, healthy male is becoming more and more affordable these days with competitive rates among insurers. An optimal time for a man to purchase term life insurance at cheaper rates is in the newlywed stage— around ages 20 through 30. Marriage involves serious spiritual preparations and the laying of an everlasting foundation. There is no reason why a young man entering into a marriage should not secure some form of basic financial protection for his wife and future children in the event of an untimely death, R”L.
Rabbanim can and should have a role in encouraging our yungerleit to pursue this basic step towards financial responsibility.
There are those who argue that life insurance is cost prohibitive and beyond the means of many young men. Life insurance becomes more expensive with age. A healthy 23-year-old with $500,000 in coverage will not pay the same rate as a 65-year-old with health issues. Term policies before the age of 25 can be purchased for less than $300 per year. Some may find budgeting $25 or so per month beyond their means. The benefits—and consequences of not being insured—far outweigh the annual cost of premiums. The sooner one obtains coverage, the more affordable it is. It is important to act fast.
In the insurance world, there are those who criticize term coverage and prefer more complicated life insurance policies such as whole or universal life. Those interested in having that discussion can do so with a qualified insurance or financial professional. For the purposes of this article, we posit that even those who favor more complicated life insurance policies will agree that term life coverage is better than no coverage at all.
People in our communities are financially stretched. When tragedy strikes, the pressure to raise funds for grieving families is intense and unyielding. Yet, the sad reality is that many do not have the funds to give. People are pressured in shuls and through Charidy campaigns to give money they don’t have to families who have suffered an irreplaceable loss. To those who want to give—kol hakavod to them.
But it is unfair for us to keep expecting our fellow community members to donate and bear the financial burden every time tragedy strikes. New York Life, MetLife, and every other big-name insurance company have no such challenges.
Finally, this article sensitively acknowledges that not everyone is insurable. Some people suffered from childhood illnesses or were born with medical conditions that render them uninsurable. This article is not intended for them. The fact that some cannot obtain insurance should not excuse the majority of young men from procuring basic protections for their families.
Pirkei Avos reminds us that “al korchoch atta chai, v’al korchoch atta meis.” There are no two-minute warnings in life. We are not granted an extension of time to organize and settle our affairs. That is why we must be proactive and organize them in advance.
Buying term life insurance is one small way we can accomplish this goal and protect our families. Those who are already on shlichus or preparing to embark on it can contact the Shluchim Office for information about life insurance for shluchim.
Chassidim and people who are responsible for their families should reach out without delay to a life insurance agent for information about term life policies.
May Hashem have Rachmonus on us and stop allowing tragedies to befall Klal Yisroel in a manner of “Bila Hamoves L’netzach.,” and may we all be zoicheh to a ksiva v’chasima tova.
Amazing article, if you get a car/house.. you must get insurance how much more so if have kids.. you must have insurance
this is so so so important!!! Gofundme, thechesedfund, and everything else – it’s too much!!
Chas vsholom I’m not saying I don’t want to help – just want to stress the importance of taking care of your own
I agree with everything you wrote. My husband’s wasn’t renewed due to minor health issues. I would hope in that case people would be understanding. A young healthy man can get at least a million term 20 years dirt cheap. Women should have as well!
A major issue on term insurance is that once it is over (usually at 65 or earlier), it just gets more expensive to renew, or sometimes becomes impossible to renew due to health concerns. As an insurance agent, I would recommend universal life insurance if you can afford a little more (whole insurance is not worth it unless late in life or health issues), since it will cover you for life and will guarantee a payout. If you want more info on the benefits of universal life insurance you can email me at [email protected]
Food for thought: When young fathers ‘suddenly’ pass way, often time they had an underlying disease that led to their demise. That disease also prevented them from purchasing life insurance. Don’t forget that these people knew of their health risks and they desperately wanted life insurance. they just had a sickness that prevented them from purchasing this financial package. Now, after their passing, the families don’t announce all the health details of the deceased. as they shouldn’t. It’s none of anybody’s business. It is true that the author did mention my point. however, this point was presented as an exception… Read more »
It is important not to generalise either way. The article acknowledged that there are of course people who are uninsurable. The purpose of the article was specifically to encourage those who are young and perfectly healthy and ARE insurable to not lose another moment and get themselves insured period. It is a shame to throw cold water at the article and criticise it in any way. Thank you to the author for taking the time to write the op-Ed and for submitting it.
It looks like you just need to be argumentative. The author made this point. And it was made very clear that it’s meant for all those men and women who are healthy at 20 and 21 when they get married. Unless you have real statistics I’d like to believe that it’s not the majority of people that are born with issues making them uninsurable.
Diabetes, high cholesterol, Crohn’s disease, ulcerative colitis, high cancer risk due to genetics, epilepsy, cancer survivor,
It is likely that you know people with these diseases. Usually these diseases automatically disqualify an insurance applicant, or at least makes the price prohibitively expensive
The author acknowledged that some people are uninsurable. While these conditions are debilitating the reality is they affect a minority of all insurance applicants. The majority of people are insurable and the author did a great job sensitively acknowledging those who are not.
yes, these facts are relevant to a minority of insurance applicants but not a minority of premature deaths. (that’s why they can’t get the insurance!!)
Fatigue?!!! The language and slant of this op-ed is cold and heartless and reflects a community that has boutique charities which distract from the absence of a real overall general safetynet charity fund which remains a daily churban and inundates a cold and indifferent attitude to the needs of others as compared to what we ought to see as a natural facet of our community. It is arguably the anxiety of having nowhere to turn unless some “special” boutique need arises that JUSTIFIABLY leaves families with the feeling that such expenses as life-insurance are a luxury that ought be forgone… Read more »
This article was thoughtful, coherent, and persuasive—something your comment was not. Although your point is unclear, the tone belies the very entitlement mentality that the author is pointing out. No safety net and too many expenses so when tragedy strikes everyone must pick up and step in. The author said specifically —kol hakavod to those who want to help. But the expectation that everyone has to is simply unfair in this day and age. Those you expect to contribute have the same type of expenses you mentioned. Bottom line, life insurance shouldn’t be a luxury, it’s a necessity incumbent upon… Read more »
Agree with ‘Something is wrong, but it certainly isn’t about life-insurance, but rather where is Bavel’s Kolel Chabad and Kupat Ha’ir, our protective safetynet that one of ours can easily turn to, if even only in theory, and certainly, if needed, in practice. ‘The above institutions urgently need more support so that communities can be locally and appropriatelysupported.
I think in the old days Jews who belonged to a certain town started their own self-help group, called Landsmannschaft, to cover burial & immediate expenses. Nowadays it’s more derech-affiliation (e.g. Satmar, Lakewood). Maybe we should do the same.
Obviously if possible everyone should get life insurance. However there is still the need for inter community assistance and it should not be seen as a problem. I grew up in a very wealthy community with not such a nice phisycal shul, yet things that were unheard of were families struggling to pay tuition, helping widowers, people loosing their homes etc. Now I live in another well off community with a multi million dollar shul with more than the bells and whistles. Yet I see on a continous basis people not being able to afford tuition to the point home/public… Read more »
Anyone heard of Areivim. Is it a reliable program?
Yes! Areivim is a wonderful program. Designed for teacher/rebbes/sofrim. The group all chips in. Some months, BH, no contributions are needed. Other months, some member(s) are nifter, and the members are asked to contribute a set amount to the Survivors. So at least wedding expenses, mortgages are covered for the families of the bereaved. It’s not exactly term insurance, but it is some kind of safety net.
Thousands of dollars are literally wasted on a wedding.
Skip fresh flowers & buy your kids life insurance for a few years!
We get all our kids life insurance when they marry.
Maybe you think we are cheap on the wedding? But at least our kids are insured!
yes, weddings are expensive for the parents. however, the lavish event tends to stimulate people to gift the newlyweds generously. Thus, the expensive weddings actually make it easier for the couple to afford insurance.
Maybe we can cut down on other less important expenses of the engagement/wedding parties & GIFT our newlyweds with insurance. They have so much on their young shoulders as they start out…
Wishing that everyone has a healthy year & never needs it…but better safe than sorry!
BOTH SPOUSES SHOULD HAVE LIFE INSURANCE!!!
If the wife is a stay at home mom, then maybe not as much as a breadwinning husband. But there will be expenses connected to cleaning the home caring for children etc
Thank you for the article. From the comments it seems most young people can afford a mobile that costs $1-2,000 a year but can’t afford life insurance of $300 a year.
B”H There are all kind of situations in life that require reaching out to our brethren for help. Pidyon Shvuyim, emergency health issues, etc., etc. The fact that Yidden are “Rachamonim B’nei Rachamonim” does not give young people the license to shirk their responsibilities and then saddle the public with their families support! As the author stated, term life at a minimum must be provided while it can still be purchased economically! (Of course, if regular whole life insurance can be purchased, so much the better.) Certainly this comes ahead of all kinds of purchases that might be considered “luxury… Read more »
Perfectly put. I believe you’re saying the same thing the author of this op-ed said. To those who want to give-great. But it is irresponsible for heads of families to shirk their responsibilities under the expectation that the community will pick up the slack. It’s irresponsible and wrong, lo aleinu.
I have been in the industry for 18 years. Happy to answer any questions & assist in putting in place life and disability insurance coverage for families.
Shmuly Wachtel
786-302-1621
This article promotes something I’ve been teaching young adults for year. Term life insurance should be a must like blood tests for tay Sachs. When a,man passes away without insurance it falls on the community to support the family. Our communities are struggling themselves. We transferred our term to whole life when we could afford it and when we didn’t need, used to buy a house
Another peave, using GoFund me for personal perks. Tuition? I need to go to Tahiti. GoFund me anyone ?