September’s Life Insurance Awareness Month – What You Need To Know!

September has been declared Life Insurance Awareness Month, a nationwide initiative conducted by many foundation, organizations and companies. The purpose is to inform people about the importance of having life insurance and the risks they expose themselves if they omit making this investment.

September's Life Insurance Awareness MonthDevoting a whole month to insurance shows the importance of these services.  There are multiple types of life insurance and people should know the differences between them.  They should also try to obtain quotes for each policy, from term life quotes to insurance quotes for the elderly.

The latest statistics done by some reputable research groups has shown a dramatic decline in terms of number of insured people and amount of clients.  Thirty percent of US households do not benefit of any form of insurance.   Fifty percent of U.S. households (about 58 million) want more life insurance.  Compared with 2004, we notice a huge decline of the amount of coverage.

Average amount of coverage is now $167.000, less with $30.000 than year 2004.  Recent economic changes have determined many Americans to rethink their financial priorities. Sadly, purchasing or maintaining life insurance is not on the top of that list.  Most of the people that have not bought yet any form of insurance, consider it too expensive.  They are also focused on paying the debts and have funds for retirement rather than saving money.

People should be aware of the benefits given by life insurance. Although they do not have life insurance, many people say that they cannot survive without the income earned by the breadwinner of the family. So, in case of unfortunate events that result with the death of a breadwinner, the family is likely to become impoverished.

Owning life insurance will be really useful and will give saved money as income replacement. And there are many things to consider: funeral costs, remaining debts and mortgage and the welfare of the family.

Although results show that meeting face to face with insurance representatives is still the preferred method for buying life insurance, almost 90% of the questioned people would access the internet for online shopping.

You should really be informed about life insurance. Our website can give you more info and if you decide to buy one, we can give you free online quotes. Click here!