September is Life Insurance Awareness Month

Each September is dedicated to educating consumers on the importance of life insurance, the role it plays in protecting families' financial security and ultimately assist them in getting the coverage they need.  LIMRA (Life Insurance and Market Research Association) has found in new research that over one third (35%) of all households would feel an adverse financial impact within one month if a primary wage earner died.  This is why associations like LIMRA and Life Happens join together with life insurance companies across the country to support Life Insurance Awareness Month. Here are some of the facts about life from LIMRA for 2018:

• Most adults own life insurance; 3 in 5 consumers (59 percent) own some type of life
  insurance.
• LIMRA research finds that approximately 50 million households recognize they need
  more life insurance.
• Among individuals with life insurance, about 1 in 5 say that they do not have enough.
• About 20 percent of individuals who don’t own life insurance don’t know how much coverage they should have.
• Nearly half (44 percent) of individuals who don’t own life insurance indicate they have enough (i.e., none is enough) or they do not need any.
• Among married/partnered consumers, one third wish that their spouse or partner would purchase more life insurance
• 16 percent of consumers are not sure how much life insurance protection their spouse or partner has.

We will continue to provide information not only in the month of September but throughout the year via Facebook and Instagram.  You can learn more about LIMRA's research here.  If you have any questions, please reach out to us at 800-686-8664 or ClientService@TOMIA247.com and our life insurance specialist will help begin the journey to protect your financial security.

Enthusiastically,

Brian D. Bartosh, CIC, LUTCF

President

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