September is Life Insurance Awareness Month. Every September Life Happens coordinates this industry-wide campaign to educate on the importance of having life insurance.
According to new research done by LIMRA, about 35% of all households would feel an adverse financial impact within one month if a primary wage earner died. The study also found that the top three reasons that people purchase life insurance are:
- To cover burial and final expenses (91%)
- To help replace list wages/income of a wage earner (66%)
- To transfer wealth or leave an inheritance (63%)
This year’s theme for Life Insurance Awareness Month is “Journey to Financial Fitness” and Danica Patrick is back as the spokesperson. Check out https://www.lifehappens.org/ for resources to promote LIAM.
Resources: LIMRA Supports Life Insurance Awareness Month. Facts About Life 2018 [PDF File]