Life Insurance Awareness Month is observed every September. It’s an educational initiative that helps you address some of the most common questions and concerns associated with life insurance coverage. This year’s theme is “Life Happens,” something we hope you keep in mind when it comes to reviewing your life insurance coverage and becoming more educated about not letting life just happen.
The 2012 spokesperson is Buddy “the Cake Boss” Valastro. After losing his father and being forced to drop out of high school to keep the family business afloat, Buddy learned firsthand what happens when there is no life insurance protection. Buddy’s story is an example of many that are shared during Life Insurance Awareness Month.
With the economy still struggling, many Americans may have or have had to choose between paying bills and buying life insurance. The decision to go without life insurance could put families at financial risk during a time of emotional and financial stress, leaving them unprepared for the future. According to a study done by LIMRA, three in 10 American households (35 million) are uninsured, and half say they need more life insurance. The survey also showed:
- 95 million Americans have no life insurance, and those who make between $35,000 and $100,000 a year represent the largest group of these households.
- Seven in 10 women agree having life insurance is a necessity and all people should have it.
- One-third of married women do not have life insurance, despite the fact that 7 out of 10 households are dual income.
- More than half of Generation X and Y households need more life insurance.
As you are facing the strain of today’s economy, think how your family or business would fare if you were to die leaving no income and unpaid financial obligations. This is a problem that can be solved easily and economically through the use of life insurance.
During September, LIFE will share the realLIFEstories of real people who planned for the unexpected and prepared by buying life insurance to protect their loved ones. These families are sharing their stories in the hope that it will educate and motivate others to take personal financial responsibility through the use of life insurance and related products. Take action today to protect those you love.