There are about 318 million people in America, and roughly 228 million are adults (18 and older). According to LIMRA, 95 million adults in the U.S. have no life insurance coverage whatsoever.
The bottom line, according to the nonprofit LifeHappens.org (formerly the LIFE Foundation), is that a majority of families either have no life insurance or not enough, leaving them one accident or terminal illness away from a financial catastrophe for their loved ones.
Many people are simply unaware of how to purchase coverage and don’t know where to turn for help. LIMRA has found that 8 in 10 Americans aren’t sure how much and what type to buy, and worry about making the wrong decision. That’s why each September, LifeHappens.org attempts to bring the life insurance industry together in support of Life Insurance Awareness Month. More than 100 of the nation’s leading insurance companies and industry groups have joined in this educational initiative.
• Check out LifeHappens.org’s LIAM resources for agents here.
As September approaches every year, I constantly find myself wondering what – if anything – life insurance producers are doing in their own communities to promote life insurance awareness. Some will no doubt argue they spend every month promoting the virtues of life insurance to their clients and prospects. Fair enough. But what I’d really like to hear about are ideas and initiatives that producers are rolling out specifically for September in an extra effort to get the message across that life insurance is, 1) not a luxury but a necessity; 2) probably less expensive than they think; and 3) that you can help them select the right type and proper amount of coverage.
In the spirit of exchanging good ideas, please visit this thread on the forum to share your ideas for Life Insurance Awareness Month – or why you do not plan to participate in any LIAM activity.
To kick it off, below is an excerpt from an article my former colleague at Life Insurance Selling, Corey Dahl, wrote about one producer’s extra efforts for Life Insurance Awareness Month. The article is about Brock Jolly, CFP, CLU, ChFC, CLTC, CASL, an associate with Capitol Financial Advisors in the Washington, DC area, who makes use of many of the LIAM-themed marketing resources available to producers.
At the beginning of the month, Jolly sends out a message to his clients and contacts reminding them that LIAM has arrived.
“It just says, ‘Hey, Life Insurance Awareness Month starts today, and it’s just a good time for all of us to think about life insurance,’” he says. Jolly includes links to resources from [LifeHappens.org] and different carriers and updates his website to feature some of [LifeHappens.org’s] realLIFEstories.
For clients coming into the office, Jolly plays the realLIFEstories videos on a loop in the lobby and hands out [LifeHappens.org’s] booklet on life insurance. “It’s a much better piece to give them than the usual marketing propaganda from insurance companies,” he says. And for non-clients, Jolly spreads the word about LIAM on his regular “Word on Wealth” segment on a local radio show.