Life Insurance Awareness Month

The Importance of Life Insurance Awareness Month

Life Insurance is one of the best ways to protect your loved ones especially if they depend on you financially. Every September we celebrate Life Insurance Awareness Month to educate and inform others of its importance. It’s not an easy topic to discuss but it may be one of the most important decisions you could make for your future and your family.

A study done in 2019 by Insurance Barometer (Life Happens/LIMRA) said only 57 percent of Americans have life insurance. The question then comes up why do only a little over half of Americans have life insurance? There is no solid answer to this question, but we can clarify on many misconceptions about life insurance.

The cost of life insurance varies depending on your age and health so it’s important to seek out the best products from reputable carriers that fit your needs. Many Americans think life insurance is too expensive which leads them to not even get a quote. Another misconception to life insurance is that people are simply misinformed and don’t realize the purpose of it and all the good it can do for you and your loved ones. Life insurance can pay certain bills, cover funeral cost, serve as an inheritance for a family member, and much more.

Life Insurance doesn’t have to be a hassle to purchase and our friendly staff can guide you along the way. If you are interested in purchasing or learning more about life insurance call us or use our online quote center and we will do our best to serve you.

National Life Insurance Day

The Basics of Life Insurance

If you are married, it’s important for both spouses to have a life insurance policy. If both people bring in an income, a death can be a difficult financial loss. Also, if a stay-at-home parent should pass away, expenses such as childcare and other domestic items can create financial hardship, too.

There are two basic types of life insurance: term life insurance and permanent life insurance. The type of life insurance policy that best suits you will depend on your unique needs.

Option #1: Term Life Insurance

Just as its name implies, term life insurance covers you for a specific period of time, or term, that you choose. Since it offers a death benefit but no cash value, term life insurance is an inexpensive way to protect your beneficiaries for a specified period of time.

Renewal term life insurance can be renewed at the end of the term, at the option of the policyholder and without evidence of insurability, for a limited number of successive terms. It can also be converted, or exchanged for a permanent insurance policy, without evidence of insurability down the road. It’s important to note that rates generally increase along with the insured’s age.

Option #2: Whole Life Insurance

Permanent life insurance is any form of life insurance other than term. Examples are whole life, universal life and variable life. These policies combine term life insurance with a long-term, tax-sheltered savings plan.

Whole life is the most basic type of permanent life insurance. It provides coverage that lasts a lifetime and also builds up a cash value that you can borrow against, withdraw or use to pay future premiums.

A life insurance policy with a cash value is ideal for those who have a lifetime need for insurance protection, prefer stable premiums over the life of the policy, want a policy that allows them to build tax-deferred values, and value the high degree of coverage the policy affords. While rates for a whole life insurance policy remain stable over the life of the policy, premiums are initially more costly than for term insurance.

How Much Insurance Do I Need?

To find the right amount of coverage, it’s important to weigh your dependents’ current lifestyle and spending needs against their future sources of income and assets. We can help you figure out how much your family will need to replace this lost income over this length of time should something happen to you. Call us today at (850) 770-7047 to learn more.

Life Insurance Awareness Month – September

To make sure Americans are reminded of the need to include life insurance in their financial plans, the nonprofit Life Happens coordinates Life Insurance Awareness Month. Each September, Life Happens is joined in this educational initiative by more than 100 of the nation’s leading insurance companies and industry groups.

Head over to to learn more about the importance of Life Insurance or call us today to discuss your specific needs.