Principal Financial Group Encourages Americans to Seek Financial Security this September
August 30, 2006 (Des Moines, Iowa) — As Life Insurance Awareness Month approaches, one thing's for sure -Americans are failing to protect their financial security. Just 13 percent of current and retired workers have conducted a financial analysis to determine the adequacy of their life insurance coverage. Further, on average half of Americans report they are "very concerned" about their financial futures. These startling results were recently released as part of the Principal Financial Well-Being IndexSM.
"September's Life Insurance Awareness Month is a great reminder and a prime opportunity to evaluate your personal financial situation and ensure the assets you've worked a lifetime to create are protected," said Deanna Strable, senior vice president of the Individual Life and Specialty Benefits Divisions of the Principal Financial Group®. "Life insurance not only helps surviving loved ones manage expenses and achieve their dreams after you're gone, but can also provide tax-advantaged money to help meet retirement or emergency cash needs while you're alive."
From Here to Security
To help identify overall benefit needs, The Principal® offers an innovative program to educate consumers on individual life and disability insurance and to help achieve financial security - From Here to SecuritySM. The program offers consumer education booklets and CDs with easy-to-read guides to understanding life and disability insurance. The materials contain definitions, examples, statistics and a personal needs analysis worksheet. Insurance calculators allow customers to run "what if" scenarios to determine the level of coverage appropriate for their individual situation. The From Here to Security program is available through a Principal Financial Group representative, or online at www.principal.com/fromheretosecurity.
"Insurance and financial solutions are available to suit nearly every need and budget, all it takes is a bit of time and consideration for your financial goals," noted Strable. "By taking advantage of resources like From Here to Security, those who have not undergone a financial analysis can do so, and feel more confident about their financial future."
About Life Insurance Awareness Month
Life Insurance Awareness Month was created in response to growing concern about the large number of Americans who lack adequate life insurance protection. According to LIMRA, 68 million adult Americans have no life insurance. Those who own life insurance have an average of four times their annual income in coverage, which is considerably less than most experts recommend. Held each September, Life Insurance Awareness Month is an industry-wide effort that is coordinated by the Life and Health Insurance Foundation for Education (LIFE) Foundation.
About LIFE
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, visit www.life-line.org.
About The Principal Financial Group
The Principal Financial Group® (The Principal®)1 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and banking through its diverse family of financial services companies and national network of financial professionals. A member of the Fortune 500, the Principal Financial Group has $206 billion in assets under management2 and serves some 16.3 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
1) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2) As of June 30, 2006.
