By Karla Sullivan
Ninety five million Americans do not have life insurance and those with coverage do not have enough, according to industry experts.
This month, celebrate the 11th anniversary of Life Insurance Awareness Month by reviewing your current policy or purchasing a new policy. Life insurance has been providing for protection for more than 200 years but according to LIMRA, here are the facts:
· Less than half of middle market consumers aged 25 to 64 have individual life insurance coverage
· Almost 70 percent of consumers say the cost of living expenses are keeping them from buying more insurance
· Most consumers would like to learn about the best options from industry financial specialists
· The most common reason for not purchasing is that the cost is too expensive
Most consumers are concerned with getting their money’s worth and according to surveys still prefer to purchase life insurance face-to-face. One in four under the age of 45 chose to purchase insurance online.
Ultimately, an insurance adviser that can reach and help consumers with their specific needs is essential to determining the best policy. Everyone’s circumstances are different and a financial adviser can help educate people about the variety of policies available. Most consumers desire a trusted agent.
As the football season kicks off and many Americans plan for football parties, it is the perfect time to have a game plan for you and your family’s future by learning about life insurance and the benefits of purchasing a policy.
It is the one foundation of financial planning that is so often overlooked and even with the economic strain of the last few years, we all have to start somewhere.
If you do have a policy, review it to make sure it is adequate to cover any recent life changes.