WHAT’S THE GOOD WORD? LIFE LAUNCHES ‘THE INSURANCE WORD’ BLOG TO OPEN DISCUSSION ABOUT LIFE INSURANCE

Newest LIFE Education Tool Provides Jargon-Free Insurance Tips and Frank Commentary;
Debuts in Time for Life Insurance Awareness Month


Washington, D.C. – September 6, 2006 – Life insurance information just became a little more accessible. The nonprofit Life and Health Insurance Foundation for Education (LIFE) today announced the official launch of ‘The Insurance Word’ Blog (http://blog.life-line.org), the latest addition to LIFE’s efforts to help educate the public about important insurance planning topics. Debuting during Life Insurance Awareness Month (LIAM) this September, the blog creates an open and direct dialogue between consumers and the insurance industry about current insurance topics and the latest personal finance news and trends.

According to a Pew Internet & American Life report issued earlier this year, 45 percent of Internet users (about 60 million Americans) say the Internet played a major role in a financial decision in the last two years.

"Working closely with an insurance professional is the best way to make sure you’re getting the right coverage, but we know that for many, the first step in thinking about complex financial issues is to turn to the web for information," said David F. Woods, CLU, ChFC, president of the LIFE Foundation. "’The Insurance Word’ Blog is one more way LIFE can help consumers make sense of complicated financial topics, plus it gives them the opportunity to interact with LIFE and get questions answered by an objective, nonprofit entity."

‘The Insurance Word’ sets aside insurance jargon and strives to give consumers frank advice and information in language and terms they can easily understand. For example, the first post to the blog by Mr. Woods entitled: "Everybody needs life insurance – right? Wrong!", dispelled the mischaracterization that life insurance companies and agents indiscriminately push life insurance on everyone. The reality, he wrote, is quite different. "Not everyone needs life insurance and whether or not you do depends on the answer to this simple question: Will someone suffer financially if you passed away today?"

Other blog topics have included when to consider permanent life insurance, how to find good advice about insurance, insurance policies for minors and when to replace a policy. Each entry is posted by one of LIFE’s various professional insurance experts and intended to provide common sense advice and observations to help people make smart decisions about insurance. Readers are encouraged to add to the dialogue in the comment sections. Relevant news articles about insurance and educational insurance web sites and interactive tools are also linked to from the blog.

In addition to the blog, LIFE has developed a series of fact sheets which are available to the media and consumers through the organization’s web site throughout LIAM. The topics covered include:

  • Looking for Mr. Right: 6 Tips for Finding a Good Life Insurance Agent
  • Answering the Dreaded Question: 5 Things You Need to Do
  • It Takes Two… Ask Yourself: How Much? and What Kind?
  • Superheroes and Superparents: Who Needs Life Insurance More?
  • The Whole Story of Whole Life Insurance

Consumers can also continue to find interactive tools and resources on LIFE’s web site such as a Life Insurance Needs Calculator (http://www.life-line.org/lifecalculator); an Insurance Agent Locator (http://www.life-line.org/agentlocator); and the Term vs. Permanent Insurance Interactive Decision Guide (http://www.life-line.org/whatkind).

About Life Insurance Awareness Month:
Life Insurance Awareness Month was created in response to growing concern about the large number of Americans who lack adequate life insurance protection. According to LIMRA, 68 million adult Americans have no life insurance. Those who own life insurance have an average of four times their annual income in coverage, which is considerably less than most experts recommend. Held each September, Life Insurance Awareness Month is an industry-wide effort that is coordinated by the LIFE Foundation.

About LIFE:
The Life and Health Insurance Foundation for Education (LIFE) was founded in 1994 in response to the public’s growing need for information and education on life, health, disability and long-term care insurance. LIFE also seeks to remind people of the important role insurance professionals perform in helping families, businesses and individuals find the insurance products that best fit their needs. To learn more about these topics, please visit www.life-line.org.

Contacts:  

Brooke Parker
212.445.8142

Tara Hall
972.830.4747

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