Happy Life Insurance Awareness Month!
Every September, NAIFA, the LIFE Foundation, and dozens of other industry organizations join forces with insurance companies and agents around the country to remind Americans how important life insurance is as a part of an overall financial plan. This year, our message is more important than ever.
A new study by LIMRA reveals that 30% of U.S. households have absolutely no life insurance coverage. That leaves tens of millions of American families walking a financial tightrope with no safety net. Even more alarming: that 30% includes 11 million U.S. households with children under the age of 18. What happens to these kids if one or both parents die prematurely? Where will their next meal come from? Do they have a place to live? It's frightening to even think about.
Many of these families are aware of the problem, but they don't know where to turn for help. About 80% of the people surveyed by LIMRA do not have a personal life insurance agent or broker, and 25% say they don't know where they can get help buying insurance or reaching their financial goals. And that's the point of Life Insurance Awareness month--letting these people know that help is available.
The LIFE Foundation has much more information about Life Insurance Awareness Month, as well as resources for agents and consumers. You can also find additional resources on the Life Insurance Awareness Month Map and Resources page of the NAIFA website.