Post text: In the craziness of keeping pace with the new world we are living in, I want to pause to thank all of the life claim examiners across our industry for the caring and empathetic support they have provided to so many in their worst hours. Like everyone, you’ve had to deal with the uncertainties of the pandemic personally. You balanced working from home and perhaps caring for young children or elderly parents with an unprecedented volume of life claims. It is a sad moment in history and we know it continues to take a toll on you. You are the hidden heroes for so many.
September is life insurance awareness month, yet we know that raising awareness is a year-long effort, and that the pandemic itself has caused many people to re-evaluate or consider for the first time, their financial preparedness.
- Forty-two percent of Americans say their household would face financial hardship within six months should a wage earner die unexpectedly — 25% would struggle financially within a month. *
- COVID-19 has impacted consumers’ perceptions about life insurance. Six in 10 consumers said they had a heightened awareness about the value of life insurance and 31% said they were more likely to buy coverage in 2021 due to the pandemic. *
- Of those who tested positive for COVID-19, 42% say there are likely to purchase life insurance in 2021. *
As I close in on my 20th year in the Group Benefits industry, I have both a personal and professional understanding of what it means to be insured, or not insured enough. When I made the personal decision to become a living organ donor, my access to affordable life insurance was a key factor in my decision-making process. Through so many of my personal and professional experiences I have seen families suffer when they do not have the insurance coverage they need, whether it be life insurance, income protection, or health related. I know that many of you in my network have a variety of roles you play to help individuals get access to the coverage they need – as advisors, as HR and Benefits administrators, or simply as a concerned family member or friend.
I urge you at this critical moment in our history to help ensure that no one will have to look back with regret that they didn’t purchase the coverage their family needed when they had the opportunity. It all comes down to education and access.
I’m calling on each of you to take some time to think about your own life insurance needs and the needs of those you have the opportunity to influence both in your personal and professional life. Let’s turn life insurance awareness into life insurance preparedness.
This article is meant to provide general information only. It’s not professional medical or legal advice, or a substitute for that advice.
Sun Life Assurance Company of Canada, Wellesley Hills, MA. For New York group policies: Sun Life and Health Insurance Company (U.S.), Lansing, MI