Too Many People Lack Adequate Life Insurance Coverage
Did you know that ownership of life insurance has been declining severely over the past couple decades? And those who have purchased life insurance usually do not own enough? Studies show that 40 percent of adult Americans have no life insurance whatsoever, and over 50 million people in this country lack adequate life insurance. Other studies of widows and widowers whose spouse died prematurely (between the ages of 30 and 55) show that less than 25 percent felt their spouse had adequate life insurance. Lack thereof has caused many widows and widowers to have to drastically change their lifestyles, in ways like taking on second and third jobs or working longer hours, borrowing money, withdrawing money from savings or investment accounts, and/or moving into smaller, less expensive housing.
For these reasons and more, the Life and Health Insurance Foundation for Education (LIFE) coordinated Life Insurance Awareness Month in September of 2004. The purpose of this campaign was to educate consumers on life insurance products and how they can help consumers achieve financial security, and encourage Americans to take stock of their life insurance needs and ensure that they are adequately met. The campaign included print and radio advertising, web promotions and community based educational seminars. Many leading life insurance companies, including many of InsWeb’s valued partners, participated in this awareness campaign.
Participating companies and non-profit organizations like LIFE and the National Association of Insurance and Financial Advisers (NAIFA) want to get the message across that these alarming statistics do not have to continue. Life insurance can be affordable and even inexpensive. Jon Dressner, Vice President of Life and Health Insurance Foundation for Education, says the following:
"There's a growing crisis in the U.S. of people not having the life insurance coverage they need to make sure their loved ones would be ok financially if something were to happen to them. We work hard year-round to educate the public about important insurance topics, but September is our main focus because it's Life Insurance Awareness Month. It's the one month of the year when we reach out nonstop to make sure Americans are reminded of how critically important it is to have adequate life insurance coverage. This year we even enlisted the assistance of former Apprentice star Kwame Jackson to help us deliver our message. Kwame's mom died of cervical cancer when he was just 15, and the life insurance proceeds from her policy helped cover Kwame's living expenses and pay for his college education at the University of North Carolina. And of course today he's a very successful business person, thanks in large part to the opportunities he had as a result of his mom's foresight and smart life insurance planning."
At InsWeb, healthy consumers can often get term life insurance for under $1 a day. Only $1 a day to ensure that your loved ones are taken care of if anything were to happen to you? It doesn’t seem like much, but many consumers are not aware of how affordable term life insurance is. InsWeb also offers the choice of many top rated insurance companies, all of which have the financial backing that allows them to never fail to pay a valid claim. Think about it, the last thing someone who has just lost a loved one wants to think about is how they’re going to manage financially. Or how they have to get a second job or move out of their family home just in order to make ends meet. It doesn’t have to be that way. Peace of mind in the form of term life insurance is only a few minutes away at InsWeb. Don’t be part of the alarming statistics mentioned in this article; fill out our simple online form or call one of our licensed agents toll free at 1-866-486-8466 today!
For more information on LIFE, visit www.life-line.org
