February is Insure Your Love month — a campaign by the LIFE Foundation to promote the importance of owning life insurance to protect one’s family financially.
According to LIMRA research:
- Half of U.S. households (58 million) are uninsured or underinsured.
- Seventy percent of U.S. households with children under 18 would have trouble meeting day-to-day expenses if the primary wage earner died.
- Yet 8 in 10 consumers believe “most people” should have life insurance.
What is the disconnect?
A recent study shows Americans are more concerned with meeting basic obligations — being able to pay their mortgage and other bills. For many, purchasing life insurance coverage is not a priority and beyond that, many believe it is beyond their reach.
But in today’s difficult economic environment where protracted high unemployment levels have taken their toll on American families, many American households are living paycheck to paycheck. In these times — when families don’t have savings to withstand the loss of an income — the need for life insurance is even more critical to protect families against unexpected death.
The LIFE Foundation launched the Insure Your Love campaign during the month that hosts Valentine’s Day to remind Americans that another way to show their loved ones that they care is through the selfless gift of life insurance.
LIMRA supports the Insure Your Love campaign and has developed a fact sheet to help producers communicate the importance of life insurance.
To view the fact sheet, please visit: 2013 Insure Your Love Fact Sheet.