True Protection for Loved Ones

Life insurance may be one of the most effective ways you can protect your loved ones. Yet, remarkably, the number of Americans without adequate protection is actually growing. It’s one of the things that seems to get shelved when the economy is under siege, as it has been these past few years, leading people to postpone plans to take out insurance, stop paying if they already have it, or buy the wrong type of insurance for their particular life stage.

It’s easy to say that all of these actions (or inactions!) are shortsighted but mostly they’re down to lack of information and understanding of the true long-term value of good life insurance. There’s no better time to take stock of your protection than in September — it’s Life Insurance Awareness Month.

According to LIFE, the non-profit foundation that organizes the event, 30 percent of US households have no life insurance whatsoever, and many of the remainder have inadequate coverage.

Questions For You
When was the last time you did the math to make sure your loved ones would be OK financially? Have you checked with your employer to find out what kind of life insurance benefit you have through work and whether you have the option to increase your coverage? When was the last time you had your life insurance needs reviewed by you insurance professional?

During this month, more than 100 of the nation’s leading insurance companies and industry groups join with the LIFE Foundation in this campaign to encourage consumers to give serious thought to their life insurance coverage. Says the Foundation: “No one likes to think about dying. But if your loved ones will suffer financially when you die, it’s a subject you have to address. You need to consider how your family would fare financially if, suddenly, you weren’t there to provide for them.

“Where would the money come from to pay for your funeral, the monthly bills, the mortgage, the kids’ education costs? These are the questions the life insurance industry wants all Americans to ask themselves.”