life insurance

Life Insurance Awareness Month: Understanding the Importance and Impact

September 13, 2023

Every year in September, the world comes together to observe Life Insurance Awareness Month. This month serves as a reminder of the importance of life insurance and aims to educate individuals about the benefits it offers. Everyone should understand the value and importance of life policies and this month of recognition.

The Purpose of Life Insurance Awareness Month

One of the primary objectives of this month is education. People have the opportunity to learn about the significance of life policies. Many individuals underestimate the value of life coverage or simply lack the necessary knowledge to make informed decisions.

The campaign also encourages individuals to assess their insurance needs. Your insurance requirements may evolve as your life circumstances change, and this month serves as a reminder to regularly evaluate your coverage.

Raising awareness provides people with peace of mind and a sense of financial security. It's about helping individuals and families protect their financial futures.

The Importance of Life Insurance

Life policy premiums are not just another monthly expense. In the unfortunate event of your passing, your life insurance policy provides financial protection for your loved ones. It ensures they have the resources they need to maintain their quality of life and meet financial obligations.

In many cases, especially for families that rely on a primary breadwinner, the loss of income can be devastating. Life coverage can replace that lost income, helping your family maintain its standard of living.

It doesn't just provide a safety net for your family; it helps ensure a stable financial future for surviving family members. It can fund education, pay off debts, and secure the family's financial future.

Types of Life Insurance

Life policies come in various forms, with the two most common types being term life and whole life. Term life provides coverage for a specified term, typically 10, 20, or 30 years. It is more affordable and straightforward, making it an excellent choice for those who need coverage for a specific period. Some term policies offer you the opportunity to convert the coverage to a whole life policy at the end of the term. Without providing additional medical information.

Whole life is a permanent policy that covers you for your entire life. It also builds cash value over time, offering both protection and an accumulation component. In some cases, you can use that cash value to pay your policy premiums, keeping your coverage in force without costing you anything out of your budget. Some whole life policies rely on a single upfront premium payment while other kinds of whole life insurance can be paid over time.

While the value of life insurance coverage is undeniable, each person has unique needs for sufficient protection. Choosing the right life insurance policy depends on many factors, which is why many people rely on financial advisors or life insurance companies like  1891 Financial Life and it’s agents. Personalized guidance ensures you get the policy that fits your goals and needs. Reach out to 1891 Financial Life today for more details about finding the right coverage to protect your family’s financial future.

About 1891 Financial Life 

At 1891 Financial Life, we don’t just sell policies, we offer possibilities. We pride ourselves on giving back to the communities that we serve by providing quality and comprehensive insurance solutions. We are a not-for-profit life insurance Society, which means the sales from these financial service products help us to continue the good works that we do in the community. 

Our mission is to provide products and benefits that assist individuals and their families in achieving financial security, while helping to build strong communities by supporting volunteer programs that reflect common shared values. In 2023, 1891 Financial Life was  listed by Forbes as one of "The World's Best Life Insurance Companies."