Did You Know It’s LIAM?
It’s September and it is LIAM! Life Insurance Awareness Month.
Actress, wife, and mother Brooke Shields has partnered with LifeHappens.org to help with this year’s LIAM, spreading awareness and education about life insurance, protecting families, and how affordable it is!
Did you know that the cost of a cell phone bill is way more than what life insurance costs?
Forty-four percent of millennials overestimate the cost of life insurance by 5x. And 86% of Americans say they haven’t bought life insurance because they think it’s too expensive, overestimating its true cost by 2x.
These are some of the misconceptions that people have that are keeping them from protecting their loved ones from financial devastation due to unexpected death or illness.
Here are a few more life insurance facts 1:
- 3% say their cell phone is most important and 20% have cell phone insurance. 85% say their family is most important yet only 55% own life insurance
- Average spent on take-out food: $75 a month. Life insurance: $30 a month
- 78% of single parents agree that financially preparing for life’s unknowns is a way of showing your loved ones you care for them
- 95% of disabling accidents and illnesses are not work-related so workers comp does not cover them
- 50% of Americans couldn’t meet expenses after just 1 month without a paycheck
- 1 in 4 of today’s 20-year-olds will become disabled before they retire.
- 7 out of 10 Americans will have a disability or chronic illness before age 65
- 1 in 3 women believe they don’t have enough life insurance.
- 1 in 5 people wished their spouse or partner had life insurance or more of it.
Life insurance is there to take care of our loved ones when life happens and we can’t. Check out lifehappens.org for articles and videos.
I am also a resource you can talk to and ask about life insurance, how you can benefit, and what options work for your situation. Whether you are single, or married with children, in your 20s or 50s, there are many different uses and purposes that life insurance can serve.
Now that you know what LIAM is, please don’t hesitate to tell your friends and families so you can help them secure and protect their loved ones. When life happens.
- LIMRA (Life Insurance and Market Research Association) ↩︎
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Sheilla Vidal is a Retirement Income Certified Professional RICP® and life insurance broker. Sheilla is also a physical therapist, wife, mother of two, and one of the caregivers for her 85-year-old father. She is an avid learner. She writes, speaks, and recognizes that her work in helping clients live with dignity is her God-given mission.
