16 Commonly Misunderstood Insurance Words

7 Jun

Underwriting, premiums, contestability period—terms like these can make insurance words seem like a foreign language.

Fortunately, a good insurance professional can help you make sense of it all. So can the definitions below. We explained them in recognition of Financial Literacy Month. Read on to understand some commonly misunderstood insurance words. More>>

5 Ways Disability Insurance Kept Life Normal for This Athlete

17 May

At 47, this Olympic-caliber runner, athlete, businessman, husband and father found out he has Parkinson’s disease. So much in his life has changed in the years since he’s been living with this degenerative disease. But one thing hasn’t: his financial well-being. He credits disability insurance with making that possible. More>>

How Much Disability Insurance Do I Need?

3 May

There is no one-size-fits-all answer for how much disability insurance a person needs. That’s because that number is dependent on many personal factors. That said, an easy way to get an idea of how much disability insurance you would need is to do this calculation: More>>

7 Reasons Why Single People Need Life Insurance

15 Mar

Many people wonder if single people need life insurance.

It’s easy to believe the answer is “no.” After all, the main purpose of life insurance is to provide cash to your family if you were to pass away. So, it seems logical to think you don’t need life insurance if a spouse or kids aren’t depending on your earnings.

However, there are definite times when single people need life insurance. Here are some of the most common reasons to consider life insurance if you’re flying solo. More>>

Protecting the Future

22 Feb

A mutual friend with a new dog brought Stephen and Katie together. Stephen had headed to his friend’s house to meet the new furry member of the family, and when he got there, he saw Katie playing with dog in the backyard. “Katie was so outgoing,” says Stephen. “She was the nicest person you’ll ever meet.” That first meeting led to beach outings and concerts, and over time to getting married and thinking about starting a family. It was Katie who suggested they get life insurance. More>>

LIMRA Industry Associations Unite to Help Address the Life Insurance Coverage Gap in the United States

18 Feb

Seven U.S. life insurance trade associations today announced they are pooling their resources to support the efforts of life insurers and financial security professionals as they help Americans get life insurance coverage and the certainty it provides at a time of great financial insecurity for many Americans.

LL Global, the parent organization of LIMRA and LOMA, the American Council of Life Insurers, Finseca, Life Happens, Million Dollar Round Table (MDRT), National Association of Insurance and Financial Advisors (NAIFA) and National Association of Independent Life Brokerage Agencies (NAILBA) have launched Help Protect Our Families, to raise awareness about the value of life insurance and to help the industry address the coverage gap that exists in the U.S. More>>

Love Insurance

15 Feb

Christy and Daryel Dunaway’s love story began as a friendship and stayed that way for more than a decade until, as Christy says, “I understood that love was about having someone who loves you as you are—heart and soul.” More>>

COVID-19 Sparks New Family Conversations Around Financial Matters

14 Oct

New report from Life Happens highlights how the pandemic has prompted a shift in Americans’ financial knowledge and behaviors.

Two-thirds (67%) of Americans say that the pandemic has been a wake-up call for them to reevaluate their finances, according to a new study by Life Happens, a nonprofit dedicated to educating consumers about the importance of life insurance and other related products for sound financial planning. More>>

September is Life Insurance Awareness Month…So What?

30 Sep

Covid-19 has hopefully provided you with a new perspective or reinforced what you already know…life happens! It is funny to me how I often hear “it won’t happen to me” or how “impossible” specific outcomes are only to see them happen regularly in our lives. The financial concept of “Family protection” fits perfectly into this box. If someone is married and has children, the family protection conversation is a must. You cannot make someone buy life insurance to protect their family, but I think it is an advisor’s responsibility to have the conversation. Term insurance is inexpensive, and the protection it provides is immense. This month I want to focus on actionable ideas as part of Life Insurance Awareness Month. More>>

Reality Check: You Can’t Get It When You Need It

21 Sep

Brooke Shields is right—you can’t get life insurance once you need it. This year, Brooke Shields is working with Life Happens to get the word out to the American public that there is no time to wait for people to protect their families with life insurance. Watch Brooke’s video>>