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Financial Overview | Life Insurance Awareness Month
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These days there's a lot of talk about financial crises. The retirement savings crisis. The crisis of 47 million Americans not having any health insurance. The subprime mortgage crisis. These crises may get the biggest headlines, but there's another one that's just as concerning. The crisis of too many Americans not having adequate life insurance coverage.
According to LIMRA International,
68 million adult Americans have no life insurance at all and those with coverage have far less than most experts recommend to ensure a secure financial future for their families. In fact, ownership of life insurance has been declining for decades and the impact is being felt in very human terms today. When a loved one dies without adequate life insurance coverage, surviving family members often face very difficult financial consequences like having to work additional jobs or longer hours, borrowing money from friends and family, moving to smaller, less expensive housing, or putting plans for a child's education on hold.
With so many Americans in a financially vulnerable situation today, the life insurance industry has created a month-long public awareness campaign aimed at encouraging the public to take stock of their life insurance needs. Life Insurance Awareness Month (LIAM) is an industry-wide effort coordinated by the nonprofit LIFE Foundation. Each year, LIFE is joined in this educational initiative by more than 100 of the nation's leading insurance companies and other industry groups. All share the same objective: to end the unnecessary financial suffering that so often occurs when a loved one dies.*
Transamerica believes every individual should have the protection and peace of mind that comes with life insurance. Because of that, Transamerica supports Life Insurance Awareness Month.
Learn more about the LIFE Foundation and LIAM.
*Courtesy of LIFE Foundation Copyright 2008
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