Study Reveals More than 40% of Americans Have No Life Insurance

Foresters Financial™ believes life insurance is an essential component of people’s financial fitness. Life insurance protects families and also can be a useful savings and investment vehicle. But a new study shows that while 84% of Americans say that most people need life insurance, only 68% say they personally need it and only 59% own some form of it.

This is why September’s Life Insurance Awareness Month (LIAM) is such an important event. This national educational campaign, which is coordinated by the nonprofit organization Life Happens, is designed to get consumers to take stock of their life insurance needs and protect their loved ones with proper insurance planning.

This year, the campaign’s theme is “A Journey to Financial Fitness,” and Danica Patrick, professional athlete and entrepreneur, is the spokesperson for Life Insurance Awareness Month.

“I’m on a personal journey, as I transition from the world of racing to a time when I can turn my hobbies and passions into what I do full time!” said Ms. Patrick. “I’ve been a big advocate of life insurance since I began in racing, and it continues to be important as I grow my businesses, so I’m thrilled to carry the message to as many Americans as possible.”

“Foresters is proud to support the annual LIAM campaign so that everyone can learn more about how life insurance can help protect them and their family,” said Knut Olson, president, North American Life Insurance and Annuity at Foresters Financial. “This campaign also fits perfectly with Foresters goal of raising financial literacy for our clients and members.”

“The reason why many people don’t like to think about life insurance is because they see it as only a death benefit and most people prefer not to think about their own mortality.” said Bill Stevens, senior vice president of retail sales for Foresters Financial Services, Inc. “The good news is that life insurance can be so much more than just death benefit! It can also include many living benefits. Life insurance awareness month highlights this and gives people a great opportunity to contact one of our advisors to discuss and implement the right protection to fit what they want out of life.”