Why buying life insurance is an act of love

Forget red roses and chocolates! Buying life insurance is the perfect way for someone to show their love.

The industry marks the month of February as Insure Your Love Month. It’s the perfect time to get your prospects to understand why buying life insurance is an act of love.

The need is there!

• Only about half of American adults own life insurance.
• 44% of women say they have a need gap.
• Nearly 25% of U.S. households would struggle financially within a month if the primary wage-earner died.

But interest in buying life insurance is high!

• Nearly 1/3 of people (31%) say COVID-19 has made it more likely they’ll purchase life insurance within the next 12 months. When looking at interest by age or race/ethnicity, it is highest among Millennials (44%), Black Americans (38%) and Hispanics (37%).

View the full recording below:

Barbara Pietrangelo is 2023 chair-elect of Life Happens. She has been with Prudential in Grand Rapids, Mich., for more than 27 years. She was the president of the MDRT Foundation in 2012.

Bryon Holz is 2023 president of the National Association of Insurance and Financial Advisors and is president of Bryon Holz and Associates in Brandon, Fla.

Susan Rupe is editor in chief, magazine, for InsuranceNewsNet. She formerly served as communications director for an insurance agents' association and was an award-winning newspaper reporter and editor. Contact her at [email protected].