A recent survey indicates that 68 million Americans have no life insurance 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, borrow money from friends and family, move to smaller, less expensive housing, or put 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 and Health Insurance Foundation for Education (LIFE). 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.
