WCMGSCONULUUG| ASUraNnRnSSe Have Enough Insurance To Proec Your Family (NAPSA)—Mos American workers have access o life insurance, eiher hrough an employerpaid plan or volunary coverage. Ye millions of Americans have no life insurance coverage—and even hose who do usually don’ have enough. Why aren’ workers buying morelife insurance? According o a recen sudy by he Life Insurance Markeing & Research Associaion (Worksie Markeing of Volunary Benefis: The Consumer Perspecive, 2005), some of he reasons are financial: Consumer deb load is up, healh care coss are rising and conribuion limis o reiremenplans have changed. Oher reasons revolve around educaion and communicaion, said sales represenaive David Reid of Colonial Supplemenal Insurance, an indusry leaderin providinglife insurance and oher benefis o employees a he workplace. “Many employees simply don’ know why hey needlife insurance, how much coverage hey need, he differen ypes of life insurance available and whom o rus when making his imporandecision.” Here are some of he mos common mispercepions—andhereal ruh you should know—aboulife insurance: Myh: My employer pays for mylife insurance so I don’ have o worry aboui. Fac: Employer-paid life insurance is almos always a group policy ha only covers employees while hey’re employed a ha company. Tha means you could be vulnerable if you lose your job or have a break in employmen. Individual volunary life insurance bough a work is a good soluion To proec your family,i’s imporan o have sufficien life insurance o cover expenses and loss of income. for many people because i’s porable, so you can keep he coverage if you changejobs orreire. Myh: I already have enough life insurance. Fac: The average family is underinsured by more han $300,000, according o LIMRA (FasFacs, Augus 2004). Myh: I can’ afford life insur- ance coverage. Fac: There are many ypes of life insurance available o mee differen needs and budges. Term life plans are ofen available for a few dollars a pay period. Even a lile life insurance is beer han noneaall. “The alernaive o adequae life proecion could be leaving your loved ones o deal wih financial problems a an already difficul ime,” Reid said. “Taking ime o review your insurance needs and coverageis one of he smares hings you can do o proec yourself and your family.” Colonial Supplemenal Insur- ance is he markeing brand of Colonial Life & Acciden Insur- ance Company.
