Happy Life Insurance Month!
Did you know that 57{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} of American workers say life insurance is an important part of their family’s future security, yet only about 60{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} of them have access to life insurance through their employer? In fact, of the 67{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} who claim to carry life insurance, 36{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} fund it entirely themselves per a recent survey by Indianapolis-based WellPoint.
Here’s the real kicker though. When an employer does offer life insurance, an impressive 97{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} of its employees opt to purchase it. That’s an indication that life insurance is a benefit that Americans value greatly.
These and other statistics are detailed in a recent article by Employee Benefit Adviser, which also outlines the irreplaceable benefits life insurance provides in the event of an employee’s death (such as debt elimination, help with funeral expenses, and the ability to afford basic living expenses). Employers can further improve their workers’ job satisfaction by offering this essential coverage, as well as other options such as life insurance for spouses and dependents.
Another study conducted by LIMRA determined that half of consumers say they need help understanding how much life insurance they need, and the same percentage also claims they prefer to meet face-t0-face with an adviser to make those important decisions. Contact Sequoyah Group today if we can help you or your employees in this all-important area.