AccuQuote.com Celebrates Life Insurance Awareness Month; Educates Consumers on the Life Stages

Online, September 28, 2011 (Newswire.com) - AccuQuote.com, an expert in online term life insurance and long term care insurance shopping and buying, reminds everyone to obtainthe right amount of life insurance coverage during Life Insurance Awareness Month this September so their families are protected should the unexpected arise.

"According to LIMRA, the nation's life insurance data center, the likelihood of being without life insurance has dramatically increased for every age group since 2004,"said Byron Udell, founder and CEO of AccuQuote. "This is a trend that needs to stop. In fact, people should make life insurance decisions throughout each life cycle. Whether you're newly married or starting a family or even nearing retirement, there are choices to be made that protect loved ones with financial security."

There are many life stages that affect your need for life insurance planning, including:

Newlywed - Marriedcouples share financial obligations. It's important that after the honeymoon, you sit down with each other to create a sound financial plan that includes life insurance. Make sure you each have enough life insurance to cover the loss of your individual financial contributions if one of you were to die unexpectedly.

New Baby - Whether you're trying to become pregnant, currently expecting, or a new parent, you need life insurance. The financial responsibility arrives before the baby does.

New Home - Oneof the biggest reasons people buy life insurance is to cover the cost of their mortgage. If you died today, would your surviving spouse or family members have the means to cover the cost of your mortgage or even pay it off completely? Other costs to consider include maintenance, utilities, unexpected repairs and property taxes.

Taking On Debt - Whether it's old debt, new debt or upcoming debt, you need a life insurance policy that will cover outstanding balances, especially if a loved one is a co-responsible party on a loan, credit card, etc.

Promotion - Whenyour income increases, so does your need for life insurance. Why? Because when you have more money coming in, your spending habits tend to rise. Additional life insurance coverage will allow your family to maintain their new financial situation and standard of living.

Caring for Aging Parents - Ifyou're financially responsible for aging parents, think about how they would survive financially if you died prematurely. If they can't afford the cost of healthcare, housing or long term care, make sure those expenses are calculated into the total face amount of your life insurance policy.

Business Changes - Lifeinsurance can protect your business. That's why it's important to reevaluate your life insurance coverage every time your business changes. Some examples include, becoming more profitable, acquiring more debt or hiring key employees.

Changes in Marital Status - Ifyou lost a spouse through death or divorce, it's a good idea to reevaluate your life insurance needs to determine new needs. If children are involved, never reduce your life insurance coverage without knowing they are financially secure. In addition, if you've remarried, change your life insurance beneficiary and assure your existing coverage satisfies your new spouse's financial needs.

Planning for College - Protectyour children's college plans with life insurance to help with costs of housing, tuition, books, etc. if you were not alive to make those payments.

Planning for Retirement -A sufficient life insurance policy provides financial support for your surviving loved ones, who may not be able to live solely on your retirement savings. A retirement plan without any life insurance is just a savings plan that dies or becomes disabled when you do.

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About Life Insurance Awareness Month

Held each September, Life Insurance Awareness Month is an industry-wide effort that is coordinated by the nonprofit LIFE Foundation. The campaign was created in response to growing concern about the large number of Americans who lack adequate life insurance protection: 95 million adult Americans have no life insurance, and most of those who do have far less coverage than most financial experts recommend. For more information on life insurance, visit LIFE's website at www.lifehappens.org.