September is Life Insurance Awareness Month, helping to remind Americans that life insurance is an essential element of their financial plan. According to LIMRA, only 44% of households have life insurance, with average coverage of $167,000. Half of American households say they need more life insurance coverage, yet only 8% indicated they were very likely to purchase additional coverage in the next year. Review LIMRA’s publication “Facts About Life 2013” for 17 life insurance facts based on LIMRA’s consumer studies, including reasons why Americans do not obtain insurance, when American’s are promoted to shop for insurance, and how they go about shopping for insurance.
Advisors, help spread the word about the importance of life insurance. If you are wondering how or why you should put out an effort to prompt Life Insurance Awareness Month, check out this article “How to leverage Life Insurance Awareness Month.” You can reproduce all or parts LIMRA’s fact sheet, by simply attributing it LIMRA.
Ensuring your clients’ have adequate protection is an important service advisors and agents can provide. Money Tree Software’s Silver Financial Planner and Easy Money Power Planner both include life insurance needs analyses to help planners cover this important part of financial planning. Planners can complete the insurance analysis as part of a complete financial planning report, or as an independent analysis.
|Silver Financial Planner estimates suggested additional life insurance coverage quickly and easily. Thanks to the streamlined data input, you can even use Silver as a conversational tool to discuss a client’s life insurance coverage by opening the program, working through the inputs with the client, and viewing the immediate results together. View a sample of the life insurance analysisreports in Silver.|
|Easy Money Power Planner provides a detailed insurance analysis, looking at not only the current life insurance need, but also how that need changes each year in the future. View a sample of the life insurance analysis reports in Easy Money. Find out if there is a short term gap in insurance need that could be best filled with a term policy or a continuing gap needing to be filled with a permanent policy.|