HORSHAM, Pa.--(BUSINESS WIRE)--The Penn Mutual Life Insurance Company has announced its support of Life Insurance Awareness Month (LIAM), by encouraging families and business owners to take stock of their life insurance and know what to do should the unexpected occur. LIAM is a national initiative sponsored by The Life Insurance Foundation for Education (LIFE) and emphasizes the important role life insurance plays in protecting families.
An astounding 68 million adult Americans currently have no life insurance coverage, leaving them ill-equipped to handle the unexpected. Penn Mutual, through its financial professionals across the nation, will help consumers evaluate their life insurance needs and educate them on how to fulfill the dream of providing for the future financial security of their families.
“With such a large portion of the American population inadequately prepared for the death of the primary breadwinner, it is our responsibility to help consumers determine how much life insurance they need and how to properly access it when the time comes,” stated Robert E. Chappell, Chairman and Chief Executive Officer of Penn Mutual.
Even among those who do have life insurance, the amount of insurance may be too small to protect the financial future of loved ones. In a recent study, it was reported that widows and widowers indicated an average period of four to five years before their financial circumstances returned to what they were at the time of their spouses’ death.
“A simple consultation with an insurance professional can avoid the turmoil, confusion, and uncertainty that often accompany the sudden death of a family member,” Chappell said. “We are using this industry-wide campaign as a call to action for families and business owners to put a plan into place for life’s unexpected events.”
About The Penn Mutual Life Insurance Company
The Penn Mutual Life Insurance Company is the nation’s second oldest mutual life insurer. Founded in 1847, the company provides life insurance and annuities through a national network of financial professionals who help clients meet their financial needs with confidence. Penn Mutual supports its field representatives with brokerage services through Hornor, Townsend & Kent, Inc., Registered Investment Advisor and wholly owned subsidiary. Visit Penn Mutual on the Internet at http://www.pennmutual.com.
The Life and Health Insurance Foundation for Education (LIFE) was founded in 1994 in response to the public’s growing need for information and education on life, health, disability and long-term care insurance. LIFE also seeks to remind people of the important role insurance professionals perform in helping families, businesses and individuals find the insurance products that appropriately fit their needs. To learn more about LIFE, please visit http://www.life-line.org.
All facts are from research conducted by LIMRA International.
2007 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044