LIMRA: Americans should plan for their financial futures


Life insurance is a useful way to protect your loved ones from financial insecurity when you pass away.

The Life Insurance Marketing and Research Association (LIMRA), a global health services research organization, has offered guidance in the past for Americans who are not entirely certain how to financially plan for the future. The group has advocated for a more proactive approach to personal economic management, and this includes the purchase of a life insurance policy to ensure that an individual’s loved ones have the protection they need during an uncertain time.

Robert Kerzner, the president and CEO of LIMRA, recently spoke before the Federal Advisory Committee on Insurance about the need for both professionals and individuals to develop a culture of long-term planning. Not only does this mean acquiring a life insurance policy, but acting to be healthier and more economically prudent. In turn, these efforts will help people save money and lead more fruitful, financially stable lives. 

“The study of behavior economics proves that people with a present bias choose immediate gratification over long-term well-being,” Kerzner said. “It is vital for our nation that our industry, legislators and policymakers work together to help Americans overcome this present bias and make the financial choices that will provide them long-term financial security.”

As we have discussed on this blog in the past, a life insurance policy can make a big difference for your family. When you pass away, they will need all the support they can get, especially if you have outstanding liabilities like a mortgage or credit card debt. The death benefit from a life insurance policy may be used to settle these accounts and help your loved ones transition through a difficult period.

It’s never too late to buy life insurance, whether it’s a term life insurance policy or a longer-lasting whole life insurance policy. Continue to explore our website to get the quotes and options you need. 

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