Life Insurance Awareness Month

 

September is Life Insurance Awareness Month

The life insurance industry started in New York more than 250 years ago and has been protecting families and building communities ever since. September is Life Insurance Awareness Month and LICONY is pleased to join Life Happens and our member companies to help educate Americans about the importance of life insurance and help get the coverage they need financially protect themselves and their loved ones.

While life insurance is a proven way to protect loved ones, findings from the 2017 Life Insurance Barometer Study by Life Happens and LIMRA show that the majority of life insurance owners do not have enough coverage.

The resources below are designed to help you and your family learn more about life insurance and take the steps necessary to protect your financial future.

A Message from Danica Patrick

 

Did You Know That in New York.......

  • Residents have $2.3 trillion in total life insurance coverage?
  • State residents own 8 million individual life insurance policies, with coverage averaging $198,000 per policyholder?
  • That $36 billion was paid to New York residents in the form of death benefits, matured endowments, policy dividends, surrender values, and other payments in 2015?

Or that....

  • Life insurance companies invest approximately $458 billion in New York's economy.
  • About $371 billion of this investment is in stocks and bonds that help finance business development, job creation, and services in the state.
  • Life insurers provide $38 billion in mortgage loans on farm, residential, and commercial properties, and own $3 billion in real estate in New York.

Source: ACLI New York Fact Sheet

People Across the Country View Life Insurance as a Smart Investment

  •  According to LIMRA, more Americans also view life insurance as a good vehicle to supplement retirement income. In 2011, only 38 percent of Americans said their life insurance would supplement their retirement income, compared with 52 percent today. 
  • More people are using life insurance as a way to save for retirement.
  • LIMRA research finds that 85 percent of Americans value in life insurance yet less than half have an individual life insurance policy.

Get all the Facts on Life 

Does Your Family Have Enough Life Insurance?

Real Life Stories

 

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