September is Life Insurance Awareness Month, which encourages everyone to consider the impact life insurance has in guaranteeing the financial security of the ones we love.
"Life insurance is important for many reasons," said Missouri Department of Commerce and Insurance Director Chlora Lindley-Myers. "It allows us to protect those we care about, as well as ensure we don't leave behind financial burdens for our families to bear. While it may be a difficult conversation, I hope Missourians will take this opportunity to set aside time to discuss their life insurance coverage needs."
Financial security impacts all generations, and over 100 million people in the United States don't have life insurance or sufficient coverage to meet their needs. Life insurance is the foundation for strong financial planning and security for your family.
The Department of Commerce and Insurance website features tools to help consumers research insurance agents and companies. The website also provides answers to several of its consumers' most frequently asked questions and features a Life Insurance Policy Locator Service, which was designed to help consumers find the life insurance policies and annuity contracts of their deceased loved ones. Annuities are investment products sold by insurance companies. Consumers buy annuities as a way to generate interest on their savings, generate income, or both. A consumer pays a lump sum or makes periodic payments to the insurance company offering the annuity. In exchange, the annuity provides periodic payments to the consumer
"These resources are there to help Missourians find the information needed to select a policy that meets their needs," said Lindley-Myers.
For help understanding life insurance policies, finding an insurance agent or company, or using the Life Policy Locator Service, consumers can call the department's Insurance Consumer Hotline at 1-800-726-7390 or visit DCI's website.
Categories: Missouri, General