FREDERICK, Md.--(BUSINESS WIRE)--In an effort to disrupt the crowdfunding space for social good, U.S. insurance group Legal & General America today launched ALittleHelp.com. Unlike other crowdfunding sites, ALittleHelp.com will never keep any portion of contributions and is focused exclusively on memorial funds, designed to help families through the financial struggles that often arise after the loss of a loved one. According to the 2016 Insurance Barometer Study, one in three households would have immediate trouble paying living expenses given the loss of the primary wage earner.
In far too many situations, surviving family and friends find out too late that a plan isn’t in place to cover funeral and burial services, medical bills, and monthly expenses such as mortgages or rent, car payments, child care, and school or college tuition. Memorial funds can help bridge short-term financial crises and meet surviving family members where they are, when they need it most.
“There is no greater loss than that of a loved one, and at Legal & General America, we believe everyone deserves a little help when tragedy strikes,” said Jim Galli, executive vice president, business strategy and innovation, Legal & General America. “We launched ALittleHelp.com with a strong conviction that memorial funds should never be a source of profit or vehicle for others to take advantage of grieving families. That belief fuels our promise: we will never keep any portion of contributions.”
How It Works
Visitors can set up a memorial fund on ALittleHelp.com by following four simple steps:
- Sign up using your Facebook account or email address.
- Provide some important details about your loved one.
- Link a PayPal account to receive funds throughout your 60-day campaign. Contributions will go directly to the intended recipient’s PayPal account.
- Share your memorial fund – each is assigned a unique URL – and raise contributions from your friends, family and community. Contributions can be easily made by credit/debit card or PayPal account.
Setting up a memorial fund is free and ALittleHelp.com will never charge administrative fees. The only cost is a required PayPal transaction fee of 2.9% when a recipient withdraws funds, and a $0.30 fee per contribution.
ALittleHelp.com is an online community designed to help families through the financial struggles that often arise after the loss of a loved one and is a project of Legal & General America. Sponsored by a company with more than 65 years of security the financial futures of families, the community funding platform gives supporters a trusted path to lend a hand and a promise to never keep a cent of any dollar raised for its own. To learn more, visit www.ALittleHelp.com, or follow us on Twitter, Facebook, and Instagram.
About Legal & General America
Legal & General America (LGA) is part of the worldwide Legal & General Group. For over 65 years, the Legal & General America companies have been in the business of providing financial protection through life insurance for American families. The Legal & General America companies are Banner Life Insurance Company and its subsidiary William Penn Life Insurance Company of New York. With more than $50 billion in new coverage issued in 2015, LGA is ranked in the top ten of U.S. life insurers and ended 2015 with in excess of $658 billion of coverage in force with almost 1.2 million U.S. customers.1 LGA shares Legal & General's independent financial strength ratings: A+ Superior from A. M. Best and AA- Very Strong from Standard and Poor's and Fitch. In February 2017, LGA launched ALittleHelp.com, a new community funding platform focused exclusively on memorial funds. To learn more, visit www.lgamerica.com.
1 Year-end 2015 LIMRA study; rankings based on survey participants. Customer count as of year end 2015.