New York — New York Life Insurance Co. is joining with the Life and Health Insurance Foundation for Education to sponsor the fifth annual Life Insurance Awareness Month (LIAM) campaign to educate consumers about the benefits of life insurance, and the importance of seeking financial advice from qualified insurance professionals.
Life Insurance Awareness Month was created in response to growing concern about the large number of Americans who lack adequate life insurance protection. Industry statistics report that 68 million adult Americans have no life insurance, and those with insurance have considerably less than most experts recommend—only four times their annual income in coverage, according to New York Life.
According to a soon-to-be-released study by Mathew Greenwald & Associates, 95% of Americans make it a priority to protect their children using seatbelts, but only 20% have enough life insurance for family protection. While parents are concerned for their families’ well-being and safety, and many parents intend to purchase life insurance, studies show that families are either uninsured or underinsured.
“We are proud to be part of this industry-wide effort to let people know how important it is to protect their families with the selfless gift of life insurance. Presently, 68 million adult Americans have no life insurance at all and, in many cases, those with coverage have far less than needed,” says Chris Blunt, SVP and COO, life and annuity, New York Life. “New York Life has been protecting the financial future of individuals and families for more than 160 years but, as an industry, we need to be more vocal about the consequences of not being protected.”
“Life Insurance Awareness Month is a great time for our agents to educate, communicate and promote the need to protect and secure the financial futures of families in the community,” says Mark Pfaff, SVP and head of New York Life’s career agency system.
“Since protecting families is at the heart of what we do, more than 50 New York Life general offices are hosting a Child Safety & Protection Festival during Life Insurance Awareness Month in September. The festivals feature family activities and, in cooperation with local law enforcement, an opportunity for children to be photographed and fingerprinted for their safety.”
Source: New York Life Insurance Co.
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