Former police officer: Something younger people should think about but rarely do

Local News

The average cost of a funeral back in 2017 was around $10,000

YOUNGSTOWN, OHIO (WKBN) – Life insurance is something that many people don’t think about until they’re a little older. But getting life insurance at a young age can be crucial.

Tyra Grant is a former Youngstown police officer, so watching others deal with death was not uncommon for her.

“When I was you know, doing policing that’s probably obviously the hardest part of your job is seeing the grieving families and seeing someone lose their life,” Grant said.

Now, Grant has stepped away from policing and she is a life insurance agent. She said in her field, it’s difficult to see young people pass away and their families don’t have the money to bury them.

“It really hurts me when I see GoFundMe accounts, cookouts, fish-fries and things like that, and I think also we have to take personal responsibility,” she said.

According to the Federal Trade Commission, the average cost of a funeral back in 2017 was around $10,000. Grant says the cost is continuously going up.

For a lot of people, life insurance can be costly, which is why many choose to hold off on getting it. But, Grant says there are ways to make it work.

“At the end of the day, we always find ways to pay for things that we know the value of and the importance of,” Grant said.

According to the Centers for Disease Control, unintentional death is the third leading cause of death in the U.S. Grant says young or old, it’s always better when you have a plan in place for your loved ones left behind.

“There’s no moment or second that’s promised,” she said.

She said there are also different options when choosing life insurance that works best for you. If you are on a tight budget, you can get the bare minimum burial coverage. But, there are also options that offer living benefits and allow you to borrow money while you’re still alive. 

“That’s that savings account that’s attached to your life insurance policy. So as you’re making payments monthly, it’s also going to ensure you and also going to your cash value that you can take from and that you can borrow from,” Grant said. 

Grant also says that though you may have life insurance through your job, it’s always beneficial to get a policy outside of work.

“Because at the end of the day, when you retire, get fired or quit your job, you lose access to those benefits,” Grant said.

It’s important to do research when looking for life insurance. To determine how much you may need, nerdwallet.com provides an online calculator.

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