September is Life Insurance Awareness Month: Find Out if You Have Enough
It’s Life Insurance Awareness Month, a time to pause and think about the coverage you have vs. the coverage you think you should have. Why is this important? According to the 2015 Insurance Barometer Study,* about 30 percent of Americans feel they need more life insurance, but have not acted to close the gap.
If you’re among that 30 percent, closing that gap is probably less expensive than you think. The same study found that 80 percent of consumers misjudge the cost of term life insurance, with younger individuals (GenX and Millennials) in particular overestimating the cost by as much as 100 to 200 percent. If you’re not sure how much coverage you should have, you’re not alone. About 40 percent of respondents said they don’t know how much they need or what to buy.
Affordable Insurance for Lawyers ABE can help you close that coverage gap without breaking the bank with affordable life insurance designed exclusively for ABA members. Take the Two Minute Life Insurance Self-Review to get a rough idea of how well your present coverage meets your own needs and then ABE’s handy coverage calculator can help you determine the amount of coverage for which you are eligible to apply. Contact an ABE Insurance Plan Specialist to discuss how ABE-sponsored insurance plans can help protect you and your financial future.
ABE-sponsored life insurance plans include a unique charitable giving feature that lets you give back to help support more than 200 legal public service, educational, and research projects.
Act now to protect the ones you love while helping others through these unique ABE-sponsored insurance plans. Click here for more information on ABE-sponsored life insurance, including features, costs, eligibility, renewability, limitations and exclusions, or apply online.
*For the 2015 version of this annual study, LIMRA employed an online panel to survey 2,032 consumers on insurance and financial topics in January 2015. The data were weighted by age, gender, education, race, region, and income to be representative of the general population. A propensity score adjustment was added to correct for biases inherent in Internet panels. The margin of error in this study is +/-3 percentage points.
About the survey sponsors: Life Happens is a nonprofit organization dedicated to helping Americans take personal financial responsibility through the ownership of life insurance and related products, including disability and long-term care insurance. LIMRA is a worldwide research, consulting and professional development organization that helps insurance and financial services companies increase their marketing and distribution effectiveness.
ABE-sponsored Life Insurance Plans are underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 on Policy Form GMR.
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