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Senate Co-Sponsorship Memoranda
Senate of Pennsylvania
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | September 4, 2014 11:44 AM |
|---|---|
| From: | Senator Michael J. Stack and Sen. Donald C. White |
| To: | All Senate members |
| Subject: | Life Insurance Awareness Month in Pennsylvania - Resolution |
| In the near future, Senator Donald White and I will offer a resolution to designate September as Life Insurance Awareness Month in Pennsylvania. According to the 2014 Life Happens/LIMRA Insurance Barometer Study, Americans under 25 are more concerned than any other age group when it comes to leaving dependents in a difficult situation if they were to die prematurely. Cost is a perceived barrier as 63 percent of all consumers cite it as their reason for not purchasing life insurance, or more of it, yet more than 80 percent of Americans misjudge its true cost. In general, those without life insurance overestimate its cost by more than three times, and those under 25 by 10 times. According to LIMRA, 30 percent of U.S. households have no life insurance whatsoever, leaving a significant portion of the population without a financial safety net. Life Insurance Awareness Month was started 10 years ago on the Federal level - to educate the public about the importance of long-term financial planning and encourage all Americans to take stock of their life insurance needs. Please join us, as the Chairmen of the Senate Banking and Insurance Committee, to raise awareness on the importance of being insured. |
Introduced as SR444