September is Life Insurance Awareness Month which is a good reminder to ask yourself, “Would my family struggle financially if I were no longer here?”
In studies conducted by LIMRA, the research shows, “4 in 10 families say they would face financial hardship within six months if the primary wage earner died. For 1 in 5, it would be within just one month.” These are staggering numbers, but these numbers would certainly go down if families were better informed. Too often, families avoid getting life insurance based on one or more of the following misconceptions.
Misconceptions about Life Insurance
The following misconceptions about life insurance can get in the way of making good decisions.
- Life insurance is unaffordable
- Life insurance is too complicated to understand
- Life insurance is not needed until I get older
Don’t let outdated misconceptions keep your family from feeling financially secure. Make good decisions by knowing the facts.
- Although life insurance policies vary by the type of insurance, coverage amount, and personal factors – keeping your family feeling financially secure with the right life insurance plan can be affordable and attainable.
- By reaching out to your employee benefits expert or a life insurance agent, you can quickly learn about the life insurance options available to you in easy to understand terms.
- Responsibilities such as mortgage and raising children can be bigger during your working years which makes life insurance even more of a necessity.
If you or someone you love doesn’t currently have life insurance, take a few minutes to learn more. You will discover that getting life insurance is simpler and more affordable than you have realized.
Proud to Support Life Insurance Awareness Month
AmeriLife Benefits is proud to support Life Insurance Awareness. This campaign seeks to help families understand the role life insurance plays in keeping their future financially secure.