Afraid to Purchase Life Insurance? Don’t Be. Here’s How it Works.

31 Oct

There are 41 million people in the U.S. who say they need life insurance but do not have it, according to the 2020 Insurance Barometer Report from industry groups LIMRA and Life Happens. This can partially be explained by the tendency of people to overestimate its cost.

Perceptions about affordability and value can deter people from buying the life insurance they need. More than half of respondents in the Insurance Barometer Report said a $250,000 term life insurance policy for a healthy 30-year old would cost $500 a year or more. But the average cost is closer to $160 a year. That’s a pretty big discrepancy in perceived cost versus actual cost.

Here’s a breakdown of what you need to know about getting the best life insurance to make an educated decision. More>>

What a Breast Cancer Diagnosis Means for Obtaining Life Insurance

27 Oct

Guest contributor Lisa Arcuria, director, high net worth client support, at Crump Life Insurance Services.

In the U.S., we dedicate the month of October to Breast Cancer Awareness. Breast cancer and other forms of cancer affect many people’s lives each year. In 2022, roughly 1.9 million people in the U.S. will be diagnosed with cancer. An estimated 287,850 women and 2,710 men will be diagnosed with breast cancer, which makes it the most common cancer diagnosis. I want to share my personal story and my firsthand experience from the business side on how to secure life insurance for clients who have defeated cancer or who may be potentially genetically predisposed to developing cancer. More>>

Life Insurance: Facts vs Myths

24 Oct

While many of us understand the value of life insurance, millions of families don’t have enough coverage or any coverage at all. In fact, 41 million Americans think they need life insurance coverage but don’t have it (source: LIMRA, 2020). Since the COVID-19 pandemic, the interest in life insurance has increased. So, what’s the holdup? Many people are concerned about the cost or whether they qualify. More>>

Helping Younger Clients Get the Most of a Good Thing

21 Sep

Guest contributor Kelly Chatham, senior marketing specialist, at Crump Life Insurance Services.

Clients in the demographic group between the ages of 20 and 35 are beginning to enter the workforce, with many having completed college and attended graduate or post-graduate school. During these years, many clients are faced with debt such as student loans, rent or mortgage payments, transportation costs, and paying for travel and entertainment. Due to the various pulls on their incomes, many young professionals struggle to save for the future. Here are a few simple ideas about how to incorporate insurance products during this stage of life. More>>

Hispanic Heritage Month—and Beyond

15 Sep
We know that the need for life insurance continues to grow, according to the 2022 Insurance Barometer Study, by Life Happens and LIMRA.

In fact, 44% of Americans would feel financial hardship within six months if their household’s primary earner died, with one in 10 saying it would only be a week.
Our same survey also shows that the need for life insurance is heightened in certain communities, with the Hispanic community expressing the highest need: 51% say they need life insurance or more of it.

That is why, as we look toward the start of Hispanic Heritage Month on September 15, we are offering a full suite of resources in Spanish and English, in keeping with Life Happens’ ongoing commitment to reaching the Hispanic community. More>>

Life Insurance Awareness Month (2022)

7 Sep
Every September, the industry — led by Life Happens — comes together to sponsor Life Insurance Awareness Month. Check out the resources that provide insights about what’s impacting life insurance ownership in 2022 and the important role life insurance can play in providing financial security. More>>

Back to School on a Budget

15 Aug
School is (almost) back in session. That means it’s time to stock up on those back-to-school supplies.
A June 2022 survey reports that 25 percent of students and their parents are already on the hunt for books, backpacks and other items. The average amount each household plans to spend on these items is a whopping $864.35.

So it’s no surprise that this school year parents plan to do more comparative online shopping (43%), shop sales more frequently (42%), buy more generic products (35%), and use coupons more often (24%).

Here are some ideas on how to stretch that budget. More>>

Help Close the Financial Security Gaps in LGBTQ+ Community

22 Jun

While the LGBTQ+ community has made much progress over the past decade in terms of legal protections, thanks in large part to a few different favorable rulings from the U.S. Supreme Court, when it comes to many measures of financial security LGBTQ+ individuals still lack equality with the general U.S. population. More>>