September is Life Insurance Awareness Month

It’s September, well almost anyway, so you know what that means? Yep, it’s life insurance awareness month again.

We know that today is technically August 31st for all you obsessed with details, but we’re assuming that most of us will be enjoying the last hoorah of summer this weekend–which means we probably won’t be thinking about life insurance.

Now, it’s nothing new for us to talk about life insurance here on this blog and most of the time we write about the alternative uses of life insurance as a cash accumulation vehicle or its use as a fantastic alternative investment.  However, today I’m just gonna talk about how important is to have life insurance.

Buy Plain Old Life Insurance

I'm not talking about buy life insurance for any of the alternative uses that I listed above or that we often discuss here on the site, but just the importance of owning it for what it is—

a plan to protect your family from financial ruin if something were to happen to you today and you weren’t around tomorrow.

LIMRA, a life insurance industry research organization has put together some interesting statistics regarding Americans and life insurance:

  • The life insurance industry pays $58 billion to beneficiaries each year, providing a tremendous source of financial relief and security to families that experience the loss of a loved one
  •  Roughly 95 million adult Americans have no life insurance and most with coverage have less than most experts recommend
  • 83% of Americans say that they need more life insurance coverage

Look, we know with record unemployment and our financial system in chaos, the last few years have been extremely difficult for a great many families.  This means some people think they just can’t afford the coverage that they need.

But keep this in mind, if you’re family is struggling already, imagine how tough it would be for them if you were gone?

Please don’t let affordability be an issue for you when it comes to protecting your family with life insurance.  A term life insurance policy from a reputable company could cost you less than $20/month.

What’s the Cake Boss got to do with life insurance?

This year’s spokesperson for Life Insurance Awareness Month is Buddy Valastro aka the “Cake Boss” .  I know it seems like an odd choice but if you watch this really short video you’ll understand why they chose him.

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If you need help with getting more coverage, or if you’d just like to find out how much it would cost to get the coverage you think you need, please contact us, we’re always happy to help.

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