September is Life Insurance Awareness Month. Many Americans are greatly underinsured when it comes to life insurance. In fact, more than 40% of Americans do not carry life insurance, according to the 2015 Insurance Barometer Study by Life Happens and LIMRA. Thats why each September the nonprofit organization Life Happens teams up with the insurance industry to educate Americans about the importance of carrying life insurance.
In the event of a tragedy, life insurance proceeds or death benefit, replaces your income and can help your family pay immediate expenses like funeral costs, daily living expenses and bills, outstanding debts (including credit cards and mortgage), and children’s education.
No matter what life-stage you are in, if a tragedy were to occur, someone in your family may financially suffer. Please reach out to your insurance agent to learn more about life insurance, calculate your needs and see what options are available to you. You can also learn more about life insurance by visiting LifeHappens.org or by downloading this excellent guide (found here) by the National Association of Insurance Commissioners (NAIC)