RECORD NUMBER OF COMPANIES TO PARTICIPATE IN
LIFE INSURANCE AWARENESS MONTH
Leading Public Figures, Including President Bush, Voice Support for the September Campaign
Washington, D.C. ‘ August 22 ‘ With Life Insurance Awareness Month fast approaching, it appears that involvement and support for the campaign will exceed that of prior years. Already, a record number of insurance companies have declared themselves ‘official LIAM participants‘ and the number continues to climb.
‘With so many Americans lacking adequate life insurance protection, nothing short of a truly industry-wide campaign is likely to breakthrough to the public,‘ says David F. Woods, CLU, ChFC, president of the LIFE Foundation, which coordinates the LIAM campaign. ‘The strong industry support we‘re seeing for LIAM is a clear indication to me that the industry is serious about getting people the coverage they need.‘
The number of ‘official participants‘ currently stands at 91 companies. The roster includes such industry leaders as State Farm, AEGON, New York Life, Mass Mutual, John Hancock, Penn Mutual, Guardian, AXA, Principal Financial Group, Nationwide, Southern Farm Bureau, COUNTRY Financial, Farm Bureau Financial Services, Prudential, Allstate, The Hartford and Thrivent Financial. Companies that have not yet registered as ‘official participants‘ can do so at www.life-line.org/liamregister.
Official Recognition for Life Insurance, LIAM
Also on the rise this year are pronouncements of support for LIAM from leading elected officials and policymakers. For the third consecutive year, President George W. Bush has offered words of encouragement for the campaign. In a letter dated August 15, the President noted, ‘As part of a sound financial plan, life insurance enables people to face challenges and have peace of mind about the future‘.Life Insurance Awareness Month is an opportunity to recognize the value of life insurance and its impact on American families.‘
Many of the nation‘s governors have also affirmed their support for the goals of LIAM and the need for proper life insurance planning. Already, September has been proclaimed ‘Life Insurance Awareness Month‘ by the governors of 20 states, which is more than were secured at this time last year. The list of states includes: Arizona, Colorado, Illinois, Indiana, Kansas, Kentucky, Michigan, Mississippi, Missouri, Nebraska, New Jersey, North Dakota, Ohio, Oregon, South Dakota, Texas, Utah, Virginia, Washington and West Virginia.
Several national associations have also registered their support. In July, the National Conference of Insurance Legislators (NCOIL) passed a resolution in support of the goals and ideals of Life Insurance Awareness Month. In June, the National Association of Insurance Commissioners (NAIC) Life Insurance Committee passed a similar resolution. LIAM resolutions have also been introduced in the U.S. House of Representatives and Senate, with passage of both expected sometime during September.
Scott Hamilton Ready to Take Center Stage
Olympic Figure Skating Gold Medalist Scott Hamilton, this year‘s LIAM spokesperson, will soon begin sharing his personal experience of the financial difficulties his family faced following his mother‘s premature death. Because she didn‘t have any life insurance, there wasn‘t enough money to pay for Scott‘s training or even everyday expenses. Had it not been for the generosity of an anonymous donor, Scott, then 19, would have given up the sport he loved right before his skating career was about to take off. That experience shaped Scott‘s views regarding life insurance. He has owned life insurance since he was a young adult. Today, Scott is married and has a son who is almost three, and values the financial security life insurance provides more than ever.
On August 28, Scott will conduct interviews with dozens of television and radio stations across the country. That same day Scott will share his story with the industry when he addresses the annual convention of the National Association of Insurance and Financial Advisors in San Francisco. Scott will conduct additional media interviews and speak at several other industry gatherings throughout the month of September. On September 19, the public will be invited to join Scott for a free skating session at the Sky Rink at Chelsea Piers in New York City. During the session, there will be a press conference where Scott will share his view that millions of Americans are ‘skating on thin financial ice‘ by not having adequate life insurance coverage.
Scott‘s participation in Life Insurance Awareness Month was secured by the LIFE Foundation. Information about LIFE‘s other plans for the September campaign can be found by going to www.life-line.org/liam and clicking on the ‘LIFE and LIAM‘ tab. Questions about LIAM should be directed to Jon Dressner at jdressner@lifefdn.org.
About Life Insurance Awareness Month
Life Insurance Awareness Month was created in response to growing concern about the large number of Americans who lack adequate life insurance protection. According to LIMRA, 68 million adult Americans have no life insurance. Those who own life insurance have an average of four times their annual income in coverage, which is considerably less than most experts recommend. Held each September, Life Insurance Awareness Month is an industry-wide effort that is coordinated by the LIFE Foundation.
About LIFE
The Life and Health Insurance Foundation for Education (LIFE) was founded in response to the public‘s growing need for information and education on life, health, disability and long-term care insurance. LIFE also seeks to remind people of the important role insurance professionals perform in helping families, businesses and individuals find the insurance products that best fit their needs. To learn more about these topics, please visit www.life-line.org.
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