Why aren’t more Americans benefiting from life insurance coverage?"For many families, lack of life insurance coverage isn't necessarily a cost issue. It comes down to information—or, more precisely, a lack of it," says Mark Hug, executive vice president of Marketing and Distribution for Prudential Individual Life Insurance. "There are fewer agents selling life insurance than there were a generation ago, and there are many more financial products to consider, from retirement savings to investment vehicles. So conversations about life insurance matters have taken a back seat."
The need to educate consumers is why Prudential is a supporter of Life Insurance Awareness Month. "For example, people who are being treated for various illnesses often assume they don't qualify for life insurance. But in many cases, you can still find coverage, even if you've been treated for heart disease or some types of cancer. Just as importantly, we need to understand consumer perceptions across all markets to make sure conversations about life insurance are relevant and taking place."
Here's a good start to those conversations: An insurance policy's death benefit can be the difference between staying in a family home or affording college or keeping a treasured family business and not.
Want to learn more about Life Insurance Awareness Month or speak with Mark? Contact Janet Gillespie.
Life insurance is issued by The Prudential Insurance Company of America and its affiliates, Newark, NJ. Policies contain exclusions, limitations, reductions in benefits and terms for keeping them in force. A financial professional can provide you with costs and complete details.