Why protecting your family financially means everything


Life Insurance Awareness Month (LIAM) may only come around once per year, but education around the importance of life insurance is something to shout about year-round. 

Every September, Life Happens, a non-profit organization dedicated to helping Americans take personal financial responsibility through the ownership of life insurance and related products, conducts an annual campaign to help educate people on the importance of life insurance. Because let’s face it, not everyone understands what life insurance really is and why it’s actually necessary. It all boils down to this: not only is life insurance one of the keys toward financial health and well-being, but it’s also vital to protecting your family’s financial future.

Before we dive in, let’s review the stats (according to the 2019 Insurance Barometer Study by Life Happens and LIMRA):
  • Only 57% of Americans have life insurance.
  • Two-thirds of Americans recognize the need for life insurance, but don’t have adequate coverage.
  • Four in 10 households without any life insurance would have immediate trouble paying living expenses if something happened to the primary earner.


Knowledge is power when it comes to protecting your family

According to the same Insurance Barometer Study referenced above, when asked how much a $250,000, 20-year term life insurance policy would cost for a healthy 30 year old, the median estimated response was $500 – more than three times the actual amount. This, paired with the previous statistics mentioned, clearly outlines that there is more education needed – both around the affordability of owning a life insurance policy and also having enough coverage to really make a difference for your family. 

No matter your life stage, there is a term life insurance policy that can meet your family’s specific needs to help ensure no one is left in a bind should something unexpected happen. 

One way to ensure your family is in full control of your coverage is by getting the right amount of protection for your specific stage in life. Our Term Rider solution is a cost-effective way to defend against being under or over insured. Term Riders act as additional insurance, providing temporary coverage for a shorter period than a base policy. And, they can be adjusted as your financial responsibilities change.

This is just one example of the flexible options available so you can start protecting your family in a way that makes the most sense for you.


It's never too soon

It’s never too soon to start thinking about life insurance. Take it from actress, model, designer and mother Brooke Shields, who partnered with Life Happens to discuss why protecting her family financially means everything to her.

After an experience serving as executor of a friend’s will, the importance of life insurance was driven home for Brooke. She saw firsthand the financial challenges that came along with a lack of coverage. That experience, paired with her commitment to protecting her family, reinforced her desire to teach her family about life insurance and financial planning:

“I’m teaching my daughters to be strong and independent so they can successfully navigate their own life journey. And I’m protecting their future by having life insurance. Just like my mom, I’d give the world to protect my children. I got life insurance before I was married because I knew I wanted children someday. This isn’t anything I was taught growing up, it’s a lesson I learned on my own and want to share. Getting life insurance might feel scary or like something other people do, but once you get it, it’s done. Protecting my family financially means everything to me.”

Life insurance is about making a commitment to your loved ones by ensuring their financial futures are secure, and it’s one important piece of the financial wellness puzzle. By talking about life insurance with your family, you’re teaching them valuable financial lessons like planning ahead and building a safety net.

Our goal at Legal & General America is to help educate the millions of uninsured Americans about the true importance of life insurance and to provide flexible options for finding the right coverage.

Are you ready to protect your family’s future with life insurance?