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Are you looking out for those you love?
September is Life Insurance Awareness Month (LIAM). This makes it the perfect time to look out for loved ones by looking into life insurance.
We're proud to work with Life Happens, a nonprofit organization, to raise awareness of the need for life insurance and how it can help families protect their way of life.
Think about it. Every month, many of us pay for the insurance that protects our homes or cars. You'd think we'd give even more consideration to protecting our family's financial future. Yet, according to a study by LIMRA International, 30% of U.S. households have no life insurance at all.
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This lack of insurance could leave families having to pay for funeral expenses and medical bills out of their savings. Then they'd still have to cover their ongoing living expenses, such as their mortgage, utilities and health care.
Consider this:
- Roughly three-quarters of Americans are living paycheck to paycheck, with little to no emergency savings.2
- 69% of consumers don't know that life insurance benefits are tax-free.3
- 46% of American die with less than $10,000 in financial assets, or none at all.4
Life insurance can help
Life insurance can provide a financial safety net to help families maintain their standard of living. During Life Insurance Awareness Month, take the time to learn more about how life insurance can help protect your family's future. And spread the word. We all need to look out for those we love.
1 LIMRA International, Facts about Life (2013)
2 Bankrate.com 2013 study
3 LIMRA, What Do They Know Anyway? Consumer Understanding of Life Insurance (2012)
4 James Poterba, Steven Venti and David Wise, Were They Prepared for Retirement?
Financial Status at Advanced Ages in the HRS and Ahead Cohorts, National Bureau of
Economic Research (2012)
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