Financial Planning Month

A Great Need To Fulfill

As we move through Financial Planning Month, we want to acknowledge the number of people who could potentially benefit from adding life insurance to their portfolio.  According to the 2023 Insurance Barometer Study, 41% of Americans confess to being underinsured.  Many underserved markets (women, Millennial, Gen Z adults, minority races/ethnicities, etc.) demonstrate even more substantial insurance needs when compared to other markets.  Even ultra-affluent households can lack the life insurance coverage they need to complete their financial planning. 

The need-gap increased by 2 million individuals since 2020, which might be caused by younger individuals reaching adulthood without completing proper financial planning, along with post-pandemic prioritization of household finances.  A record-high proportion of consumers (39%) have noted the importance of life insurance post-pandemic and say they intend to purchase coverage within the next year.

Many hesitate to implement life insurance because they don’t know where to start or they overestimate the cost and assume it will be too expensive.  Financial Planning Month is the perfect opportunity to engage and educate the many individuals who live with a life insurance coverage gap.  Getting a step ahead can be beneficial in the long run and we can help to construct a path to do so.  Contact us with any questions or opportunities to help your clients achieve their goals.  This is what we enjoy doing for only a select number of families, businesses, and charitable institutions each year, and we look forward to hearing from you.