NEW YORK, N.Y., August 28, 2008 – New York Life Insurance Company is partnering with the Life and Health Insurance Foundation for Education (LIFE) to sponsor the fifth annual Life Insurance Awareness Month (LIAM) campaign, to educate consumers about the benefits of life insurance and the importance of seeking financial advice from qualified insurance professionals.
Life Insurance Awareness Month was created in response to growing concern about the large number of Americans who lack adequate life insurance protection. Industry statistics report that 68 million adult Americans have no life insurance and those with insurance have considerably less than most experts recommend – only four times their annual income in coverage.
According to a soon to be released study by Mathew Greenwald & Associates, 95 percent of Americans make it a priority to protect their children using seatbelts, but only 20 percent have enough life insurance for family protection. While parents are concerned for their families’ well-being and safety, and many parents intend to purchase life insurance, studies show that families are either uninsured or underinsured.
“We are proud to be part of this industry-wide effort to let people know how important it is to protect their families with the selfless gift of life insurance. Presently, 68 million adult Americans have no life insurance at all, and in many cases, those with coverage have far less than needed. New York Life has been protecting the financial future of individuals and families for over 160 years, but as an industry, we need to be more vocal about the consequences of not being protected,” said Chris Blunt, senior vice president and chief operating officer, Life and Annuity, New York Life.
“Life Insurance Awareness Month is a great time for our agents to educate, communicate and promote the need to protect and secure the financial futures of families in the community. Since protecting families is at the heart of what we do, more than 50 New York Life General Offices are hosting a Child Safety & Protection Festival during Life Insurance Awareness Month in September. The festivals feature family activities and, in cooperation with local law enforcement, an opportunity for children to be photographed and fingerprinted for their safety,” said Mark Pfaff, senior vice president and head of New York Life’s career agency system.
New York Life Insurance Company is one of more than 100 companies and trade groups and tens of thousands of agents committed to promoting Life Insurance Awareness Month. New York Life plans to support the industry-wide awareness campaign with advertising and additional outreach to agents and policyholders.
The Life and Health Insurance Foundation for Education (LIFE) was founded in 1994 in response to the public’s growing need for information and education on life, health, disability and long-term care insurance. LIFE also seeks to remind people of the important role insurance professionals perform in helping families, businesses and individuals find the insurance products that best fit their needs. To learn more about these topics, please visit www.lifehappens.org
New York Life Insurance company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings from all four of the major credit rating agencies. Headquartered in New York City, New York life’s family of companies offers life insurance, retirement income and long-term care insurance. New York life investment management LLC provides institutional asset management and retirement plan services. Other New York life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.
Please visit New York Life’s Web site at www.newyorklife.com for more information. For more information about New York Life’s Child Safety & Protection Festivals, please visit: www.newyorklife.com/childidprogram For more information about Life Insurance Awareness Month, please visit: www.newyorklife.com/liam
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|New York Life Joins Industry To Educate Consumers About The Importance Of Life Insurance|