Life Insurance Awareness Month – September 2014

campaign-liam

It is Life Insurance Awareness month again and with the students returning to school, it is time to re-examine your financial security. Life insurance is a product which few consumers understand. Therefore, it is beneficial to have a competent life insurance agent to support you in making a wise decision to protect your family.

Approximately 95 million people are without life insurance protection which means that their families are at risk for financial calamity due to the untimely death of a head of the household. Many families today are headed by a single parent which would leave the family even more at risk. If the parent dies, prematurely, the children would be orphaned. Therefore, single parents need to consider who they would appoint as a guardian to the children. They would also need to provide an income to raise the children. Many families today are ill-equipped to assume the responsibility of one or more children in addition to the family which they may already have. Therefore, the best way to provide an income would be to purchase life insurance.

Typically, employees opt to acquire life insurance at a group rate at work for themselves and for the family, because it is inexpensive. Paying for life insurance weekly or bi-weekly seems to be more feasible for most employees. They can also purchase a separate life insurance policy from an insurance agent outside of work. In this case, employees will have to determine how long the life insurance will cover them and if the policy is portable, i.e., if coverage remains in force if the employee retires or leaves the company.

Employees would be wise to purchase a separate policy away from work to ensure there is life insurance coverage during gaps in employment or when the employee retires. Some life insurance policies will reduce coverage upon retirement, and some policies are not portable. These are all questions which employees should be asking their life insurance agent to investigate while they are considering purchasing life insurance protection. Consumers should review their life insurance every two years to ensure here is adequate protection for the family in the event of a catastrophe. Countless people have discovered, when it was too late, that their life insurance policy was inadequate to pay for final expenses or to protect the family.

Throughout the month of September, there will be articles available to help educate consumers on the importance of protecting the family with life insurance. Subscribe to this blog to keep up on latest developments.

Free Value Added Benefits

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: