Why dont more black people have life insurance

[Cel 510 kid ados forever]

I notice when alot of black people die they have to raise money for they funeral. life insurance is a reasonable financial investment

 

[MrPentatonic]

poor economic choices

 

[TL15]

misinformation or a lack of financial education

or

people don't see the risk reward

and/or

we aren't always taught to think about the future.

I know this is a HUGE generalization (and please don't take it as a diss to my people) but a lot of us make decisions only thinking about the "now" and not worried about the future. That $80 a month will come and go but a sensible investment like life insurance will allow your kids or family to have less stress if and when you pass.

 

[@OffHalsted]

Seen as something that don't matter today waste a $100 a month on something that won't happen today or the next 20yrs or 40yrs

Black people motto is yolo & live today fuk tomorrow...

 

[Black Sinatra]

misinformation or a lack of financial education

or

people don't see the risk reward

and/or

we aren't always taught to think about the future.

I know this is a HUGE generalization (and please don't take it as a diss to my people) but a lot of us make decisions only thinking about the "now" and not worried about the future. That $80 a month will come and go but a sensible investment like life insurance will allow your kids or family to have less stress if and when you pass.

Exactly correct.

Secondarily, this is a viable method of wealth establishment/accumulation/transference. My own father told me that "I might not have been there for you, but I can leave you something at least." I plan to do the same accordingly, addition to a Trust I have established for my seeds.

 

[LEEeveryday]

I was just talking about this recently.

If you have legit beef in the streets while having a family....You could at least take out a policy so they can bury you and so they are straight if you get killed...

With these cops executing us as well, this doesn't sound like a bad at all

Could be a real morbid way to build wealth within the black community

 

[ahdsend]

cause alotta black folks HATE their children...

thats another thing we picked up from the baby boomers..

too many of us see ourselves thru the eyes of the slave master...

 

[Mr210]

I'm black and I have life insurance, $50,000 given to me by my job and I added an additional 250,000

 

[Rawtid]

Lack of knowledge. A lot have whole life policies that are too expensive and don't offer enough coverage AND they borrow frequently against them. Then when you account black people being "unhealthier" than other races it can be hard to medically qualify for proper coverage.

 

[King Poetic]

My uncle past away and didn't have life insurance... my dad and my other uncle had to get him cremated because it was cheaper...

He didn't leave shyt to my 2 cousins and didn't care about life insurance

 

[ahdsend]

 

[Field Marshall Bradley]

I notice when alot of black people die they have to raise money for they funeral. life insurance is a reasonable financial investment

Life insurance is always a good idea.... but there is too much red tape that has to be cleared before checks are written.... the dearly departed would be dust status by the time you received a payout....

They used to have burial insurance back in the day... now I think its morphed into a burial benefit that's included in universal or whole policies now....

 

[Field Marshall Bradley]

cause alotta black folks HATE their children...

thats another thing we picked up from the baby boomers..

too many of us see ourselves thru the eyes of the slave master...

Who has life insurance on their kids when they don't even have money in their savings account..... and these are yall online heroes.......

 

[Field Marshall Bradley]

Now see, that second statement is why I don't take this dude seriously, at all

 

[ahdsend]

Now see, that second statement is why I don't take this dude seriously, at all

sandra blands mother disagrees wit u...

cuz she REFUSED to bail out her daughter from jail when she was still alive...

but was talkin bout how she felt PURE JOY when gettin that settlement...