{"id":2966,"date":"2022-09-23T16:49:44","date_gmt":"2022-09-23T16:49:44","guid":{"rendered":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-life\/?p=2966"},"modified":"2024-07-01T10:14:13","modified_gmt":"2024-07-01T14:14:13","slug":"september-is-life-insurance-awareness-month","status":"publish","type":"post","link":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-life\/september-is-life-insurance-awareness-month\/","title":{"rendered":"September is Life Insurance Awareness Month"},"content":{"rendered":"
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According to the LIMRA and Life Happens 2022 Insurance Barometer Study, two-thirds (68%) of life insurance owners report feeling financially secure compared with 47% of non-owners. Faisa Stafford, LUTCF, president and CEO of Life Happens stated, \u201cLife insurance is the foundation of any strong financial plan, and our results show it provides people with a sense of security that many are looking for, especially after the last two years.\u201d She continued, \u201cThe lasting impact of COVID remains at the forefront for many, with the pandemic leading almost a third, or 31% of people, to say they are more likely to buy life insurance in 2022.\u201d<\/p>\n

Many Remain Uninsured<\/h2>\n

Despite its importance in a sound financial plan, many Americans remain without life insurance or adequate coverage. LIMRA and LOMA President and CEO David Levenson noted that, \u201cThere are still over 100 million people in this country who don\u2019t own enough life insurance.\u201d<\/p>\n

This has left many feeling very vulnerable with LIMRA\/Life Happens reporting that 2 in 5 parents say they are \u201cbarely or not at all financially secure\u201d and 44% saying \u201cit would take less than six months to feel financial hardship\u201d if their household were to experience the loss of a primary wage earner.<\/p>\n

The need for life insurance cannot be overstated as it is clearly vital to financial security.<\/p>\n

Latest Data<\/h3>\n

Here are some other important data points from LIMRA regarding life insurance:<\/p>\n