LAWRENCEVILLE, Ga., Aug. 31, 2020 /PRNewswire-PRWeb/ -- The pandemic and topsy-turvy economic outlook continues to put financial strain on many of us, so it just makes sense to examine our budgets and look for ways to trim the fat from our monthly expenses and put more into savings, if possible.
"That's a great way to help stabilize your finances, but it's also important that you have a financial safety net in place in case something were to happen to you," says Lee Duncan, CMO & EVP of Alliance Group in Lawrenceville, GA. "Life insurance is one of the few guarantees your family can rely on to maintain their quality of life if you were no longer there to provide for them." (Check out these powerful testimonial videos - LINK)
There are 95 million adult Americans without life insurance, according to LIMRA, an insurance industry research group. "The fact is ALL American families need life insurance and sadly, most people either have none or don't have enough," says Duncan. "If someone depends on you financially, you need life insurance. It's that simple."
September is Life Insurance Awareness Month, making it the perfect time to take stock of life insurance needs. Lee Duncan offers three additional reasons why now is the best time to look into getting life insurance.
First, you'll never be younger than you are now. While that may sound obvious, youth is key when it comes to life insurance. It makes good financial sense to get coverage when someone is young and healthy, as premiums are based on age and health. For most policies, premiums will be locked in at that rate over the life of the policy and cannot be raised due to a change in health status.
Second, it's affordable, with rates near historic lows. People overestimate the cost of life insurance by nearly three times, according to a recent study conducted by LIMRA and the LIFE Foundation, a nonprofit insurance education organization. In fact, life insurance rates remain near historic lows; the cost of basic term life insurance has fallen by nearly 50 percent over the past decade.
Finally, with the addition of Living Benefits, which allow a policyholder access to his or her death benefit while still alive in case of a major diagnosis like cancer, heart attack, or stroke, a life insurance policy like those offered through Alliance Group can be the difference between financial life and death.
"Life happens" says Duncan. "One day life is going along smoothly, and the next, you're thrown a curve ball. No one knows what the future holds. None of us expect to die prematurely or suffer a critical or chronic illness, but the truth is roughly 600,000 people die each year in the prime of their lives – and more than half of us will be diagnosed with a chronic or critical disease at some point in our lifetime. That's why today is always the best day to take care of your life insurance needs."
"Life Insurance Awareness Month is the ideal time for a life insurance review," says Duncan. "I strongly urge everyone to take a few minutes out of their busy schedules this month to make sure they have adequate life insurance protection – ideally, with Living Benefits."
About Alliance Group
Alliance Group is an independent life insurance marketing organization located in Lawrenceville, Georgia. Since 1998, Alliance Group has been blazing the trail for Living Benefits in the life insurance industry – free features built into a policy that allow the insured to access their policy's death benefit while they're still alive if they ever suffer a critical, chronic, or terminal illness. Alliance Group has over 4,000 contracted agents nationally and has protected thousands of families with a total of over $24 billion of Living Benefits life insurance coverage.
About Life Insurance Awareness Month
Held each September, Life Insurance Awareness Month is an industry-wide effort that is coordinated by the nonprofit LIFE Foundation. The campaign was created in response to growing concern about the large number of Americans who lack adequate life insurance protection. Roughly 95 million adult Americans have no life insurance, and most with coverage are considered by experts to be underinsured. For educational content on life insurance, visit LIFE's website at http://www.lifehappens.org.
SOURCE Alliance Group
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