September is Life Insurance Awareness Month, and It’s Time for You to Take a Look at Your Coverage
September 3, 2019
Every September, we celebrate National Life Insurance Awareness Month across the United States. During this educational initiative, life insurance companies throughout the nation come together to raise awareness about the importance of life insurance.
In 2018, only 60 percent of individuals in the United States had life insurance coverage, and of these individuals, one in five believes that they are not sufficiently insured yet feels that they do not have a clear idea of how much coverage they really need. If you’re feeling lost about life insurance, now is the perfect time to address your concerns.
About National Life Insurance Awareness Month
National Life Insurance Awareness Month is an industry-wide campaign for insurers to educate Americans about what life insurance is, why it is important, and how they can get the coverage that they need for their needs. The campaign was created by Life Happens in 2004, and has expanded each year with new offerings for insurers and customers alike.
What Can You Do This Month?
Celebrate National Life Insurance Awareness Month by taking a look at your current life insurance coverage and asking yourself whether what you have is enough to provide your loved ones with the financial security that they will need after your passing. Consider asking yourself the following questions:
- Do I have life insurance?
- If not, why not?
- If so, when did I obtain my policy?
- If I have a term life insurance policy, when will my coverage lapse? What do I plan to do once that happens?
- Is my current coverage affordable for me, and does it provide the benefit that my loved ones will need?
- Have I experienced any major life changes since I obtained this policy? Has my health declined or otherwise changed? Have I gotten married, bought a house, or had children? Have I moved jobs, and lost my previous company’s group life insurance coverage? Has my income noticeably changed? Have I retired?
- Who is my beneficiary? Are they the only one? Is there anyone else I would like to provide a benefit to?
- Do I have a life insurance custodian? Will I potentially need one in the future?
- Do I understand my policy and my coverage? Do I know all of the details and understand what will happen when I pass away? Do my loved ones know what they need to do in order to collect the death benefit?
- Do I know where my paperwork is, and who carries my policy, or is it a lost policy?
If you are unsure of the answers to any of these questions, now is the perfect opportunity to educate yourself and improve your understanding of life insurance. Reach out to your agent today and let them know that you’d like to learn more about your coverage. When it comes to life insurance, no question is too small. Happy Life Insurance Awareness Month!
About National Catholic Society of Foresters
At National Catholic Society of Foresters, we pride ourselves on giving back to the communities that we serve by providing quality and comprehensive insurance solutions. Sales from our financial services products help fund member benefits along with social, educational, and volunteer programs designed to respond to community needs. Our portfolio is extensive, ranging from various life insurance policies to IRA’s to support your financial needs no matter what stage of life you’re in. For more information, contact our friendly experts today at (855) 804-7424.