Boomer’s circumstances are also all too real for many other households where a key family provider passed away and because of being under- or uninsured, left behind loved ones reeling from the emotional loss and the financial hardship. Statistics show that only 44% of households own individual life insurance, which combined with a reduction in the number of consumers with group insurance, leaves about one-third of people with no insurance at all. And one-third of those who do have life insurance don’t believe they have enough.
It’s stories like these—realLIFEstories—that help us all understand what insurance really does and why we need to take action now to get the insurance coverage we need to protect our loved ones financially. That’s why each year LIFE asks insurance agents and advisors to submit stories of their own to the LIFE Foundation’s realLIFEstories Client Service Recognition Program.
September is Life Insurance Awareness Month (LIAM), and it is time to take personal financial responsibility to determine if life insurance should be part of your planning and how much is appropriate. Whether you choose to research online or pick up the phone to call your agent or advisor, now is the time to take action. Do it today!
tart now working on those you made eight months ago, working on the principle that there is no time like the present. Here are four quick tasks to undertake—one for each week of this coming month—to get your financial life under control and heading in the right direction. (You’re on your own with the diet and exercising!)
Most people do not have this amount set aside to live on in retirement let alone pay for unreimbursed medical expenses. If you are already age 55+ and have not started your planning, it may be difficult to achieve these goals, but if you are younger with more time for your planning and investments to work, these goals should be readily achievable.