Evaluate Life Insurance Coverage Needs

Every September, the Missouri Department of Commerce and Insurance (DCI) observes Life Insurance Awareness Month to encourage Missourians to consider the impact of life insurance in assuring financial security for the loved ones they leave behind.

According to the Life Insurance Marketing and Research Association (LIMRA), 41 percent of Americans say they don’t have sufficient life insurance coverage. Research also shows that nearly 4 in 10 families would face financial hardship within six months if the primary wage earner died – and for 1 in 5 families, it would be within just one month.

Tracy Tucker of State Farm in Kearney knows about the importance of having proper life insurance coverage.

“We know Life Insurance can be a very sensitive topic and most people really don’t want to talk about it, but you never know when it will be your time to go,” says Tucker. “We do our best to help you envision what your family’s future would look like WITH Life Insurance, as well as WITHOUT Life Insurance so you can make an informed decision. Obviously, you can’t simply be replaced, but Life Insurance is that last testament of love that you can choose to leave behind to take care of unexpected expenses.”

Life insurance is the foundation for strong financial planning and security for your family. DCI’s website includes resources to help consumers research insurance agents, companies, and frequently asked questions and answers. The NAIC’s Life Insurance Policy Locator is a free online tool designed to help consumers find their deceased loved ones' life insurance policies and annuity contracts.

For any insurance questions, Missouri consumers can call DCI’s Insurance Consumer Hotline at 800-726-7390 or visit insurance.mo.gov/consumers.

DCI is charged with protecting Missouri consumers through oversight of the insurance industry, banks, credit unions, utilities, and various professional licensees operating in the state. For more information about the department, please visit our website at dci.mo.gov.

KPGZ News - Brian Watts contributed to this story