Study shows 48 million households say they need more life insurance coverage
Forty-four percent of U.S. households (48 million) say they need more life insurance coverage, according to LIMRA International’s 2005 Life Insurance Ownership Study of household financial decision makers.
Perhaps the biggest barrier to people getting the coverage they say they need — 78 percent of Americans say they don’t have a personal life insurance agent.
September marks the second-annual observance of Life Insurance Awareness Month, an opportunity to raise awareness and educate consumers about the importance of life insurance coverage and the professional financial services representatives trained to help them get the adequate financial protection they feel they need.
Led by the Life and Health Insurance Foundation for Education, more than 100 life insurance organizations and their representatives, including local Modern Woodmen of America agent Ivan Green, will mark the occasion by providing information and activities regarding the role of life insurance in a sound financial plan.
“Life Insurance Awareness Month is a great time for people to evaluate their personal situation,” says Green. “There’s a big gap between the coverage people have and what they feel they need. That’s where an adviser’s role comes in – to help people who have these concerns but aren’t sure where to turn to determine their needs or how to meet those needs.”
Modern Woodmen members and others can find life insurance information and online financial planning calculators at www.modern-woodmen.org. Or, they can contact Green at 281-973-5168 about a free life insurance analysis.
Modern Woodmen representatives help more than 750,000 members meet quality-of-life needs for their families and communities through financial advice and products, and fraternal programs.
Founded in 1883 as a fraternal benefit society, Modern Woodmen of America offers financial services and fraternal member benefits to individuals and families throughout the United States.
Securities offered through MWA Financial Services Inc., a wholly owned subsidiary of Modern Woodmen of America, 1701 1st Avenue, Rock Island, IL, 61201, 309-558-3100. Member: NASD, SIPC. Products are available in most states. Individual representatives may not be licensed to sell all products.