Life Insurance Quotes

As economy recovers, more Americans re-evaluate life insurance needs

09/09/11

While many Americans are still struggling with their daily finances in the aftermath of the economic recession, life insurance is a consideration that many families may have overlooked. It is unpleasant to think of how one's family might fare financially in the event of one's death, and an even more difficult and stressful assessment to make when daily finances are an ever-present reminder that one's financial security is less than ideal.

The Life and Health Insurance Foundation for Education has announced September as Life Insurance Awareness Month, and now that more Americans are reinvesting in life insurance policies, annuities and other forms of financial planning and assurance, awareness of coverage needs and goals are on the rise.

According to the Journal Standard, evaluating life insurance needs is relatively easy to do. Quantifying coverage isn't an exact science, but by looking at standard of living - monthly expenses, ongoing financial obligations and other dependencies - and comparing that to available resources, policy seekers get a ballpark figure of the level of coverage they need.

According to a 2011 LIMRA study, 2010 saw a $12,000 decline in coverage for the average American. 

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