Hope for the Best. Prepare for the Worst. Is Your Life Insurance Policy Adequate?
The Principal Financial Group helps Americans keep their life insurance needs top-of-mind
September 2, 2008 (Des Moines, IA) — Nearly half of U.S. employees and retirees are unsure of how they would cover expenses in the event of their death or that of a spouse. One quarter of those surveyed said they would rely on selling investments and withdrawal from personal and retirement savings to manage finances related to the death of a loved one, according to recent findings from The Principal Financial Well-Being Index, Second Quarter 2008.
Life Insurance Awareness Month reminds us that one thing is certain—Americans do not fully comprehend the importance of their life insurance benefits.
“With so many Americans in a financially vulnerable situation today, it’s more important than ever to take stock of your life insurance needs,” said Steve Parrish, business insurance director, the Principal Financial Group®. “Life insurance should not be considered a luxury. In fact, it’s one of the most basic tools for personal financial security.”
To help shed some light on this growing crisis, The Principal® is participating in national Life Insurance Awareness Month during September, a time for American consumers to turn this worry into action. Life Insurance Awareness Month is coordinated by the nonprofit Life and Health Insurance Foundation for Education (LIFE).
Throughout September, The Principal urges consumers to set aside time to learn more about their employer-sponsored life insurance coverage and to consider individual coverage options. The Principal has a number of programs designed to help keep consumers on track for a secure financial future including From Here to Security and Financial Security Review. These programs provide tools and assistance to help consumers identify current and future needs.
From Here to Security
This innovative program offers easy-to-read life and disability consumer education booklets along with interactive calculators. The materials are designed to let consumers explore their needs at their own pace and ultimately discover what coverage they need to protect their financial security.
Financial Security Review
Along with help from financial professionals, this annual checkup pulls together information from a variety of sources into one comprehensive, yet simple package of tools. In the kit, financial professionals have everything they need to initiate and complete a review of existing products and determine financial needs for their clients.
For more information, visit www.principal.com or contact your Principal Financial Group representative.
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. A member of the Fortune 500, the Principal Financial Group has $304.2 billion in assets under management2 and serves some 18.8 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, 2008
