U.S. Congress Passes Resolutions Recognizing Life Insurance Awareness Month
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Lee Allen
Vice President of Communications and Marketing
(703) 770-8112
September 25, 2007 (Washington, DC) —In a move highlighting the urgent need to secure American families' financial futures, the Senate and House of Representatives have passed resolutions recognizing September as Life Insurance Awareness Month. The Senate resolution, introduced by Sen. Ben Nelson (D-NE) and Sen. Saxby Chambliss (R-GA), passed Friday with overwhelming support from members of both political parties. In the House, Rep. Paul Kanjorski (D-PA) and Rep. Judy Biggert (R-IL)'s proposed resolution attracted 89 co-sponsors and passed today. A complete list of co-sponsors from both chambers of Congress is available on the National Association of Insurance and Financial Advisors' ("NAIFA") at http://capwiz.com/naifa.
"Life insurance is an important foundation of financial security. Without it, families' dreams for the future can be lost with the untimely death of a loved one. Unfortunately, there are too many Americans who lack adequate life insurance coverage," said Sen. Chambliss. "It is my hope that the adoption of this resolution helps underscore the need for people to address their life insurance needs."
"This legislation will help raise awareness of the importance of life insurance," said Sen. Nelson. "I hope this designation will encourage more Americans to seek information and secure the lifetime protection their families need."
This is the fourth consecutive year that Congress has passed resolutions supporting Life Insurance Awareness Month, during which the life insurance industry conducts a wide array of public relations and marketing programs. The Life and Health Insurance Foundation for Education ("LIFE") coordinates the efforts of more than 100 life insurance companies and trade associations, including NAIFA. This year, actress and Saturday Night Live alum Molly Shannon was retained by LIFE to be the 2007 campaign's spokesperson. She has shared her personal story of family loss and the value of life insurance at various public appearances this month and in dozens of interviews with TV, radio and print media.
"I am pleased that the House of Representatives passed the resolution recognizing September as National Life Insurance Awareness Month," Rep. Kanjorski said. "This resolution highlights the importance of life insurance and will hopefully encourage more Americans to gain the coverage needed to meet the long-term financial needs of their families."
"How many times have any of us heard friends or loved ones sadly reflecting that the deceased had no life insurance or had too little life insurance to safeguard the financial future of their loved ones?" said Rep. Biggert. "That's why it's so important that consumers are aware of their insurance needs, seek professional advice, and take the actions necessary to achieve financial security for their families."
In an August letter, President Bush commended the efforts of those who observe and promote Life Insurance Awareness Month. Governors in 35 states and the mayor of the District of Columbia have also signed Life Insurance Awareness Month resolutions. Government support for the initiative this year also came from the National Association of Insurance Commissioners and the National Conference of Insurance Legislators, both of which issued proclamations recognizing September as Life Insurance Awareness Month.
"On behalf of NAIFA, I want to commend the Congress and the state governments for their overwhelming support for this important public awareness campaign," said NAIFA President Jeffrey J. Taggart, CLU, ChFC, LUTCF."No one likes to think about the possibility of dying too soon and leaving their families behind, but the reality is there. We hope the millions of uninsured and underinsured Americans get the message—that life insurance is an essential part of a financial plan and that they need to get the coverage today to protect their families from financial peril in the face of the unthinkable."
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 about these topics, please visit www.life-line.org.
About NAIFA: Founded in 1890 as the National Association of Life Underwriters, the National Association of Insurance and Financial Advisors comprises 800 state and local associations representing the business interests of 225,000 members and their employees nationwide. Members focus their practices on one or more of the following: life insurance and annuities, health insurance and employee benefits, multiline, and financial advising and investments. NAIFA's mission is to advocate for a positive legislative and regulatory environment, enhance business and professional skills, and promote the ethical conduct of its members. NAIFA's website can be accessed at www.naifa.org.