NEW YORK--(BUSINESS WIRE)--First Investors Life Insurance Company (FIL) today announced its participation in Life Insurance Awareness Month. This is the 11th year that FIL has taken part in the campaign that takes place during September and is sponsored by Life Happens®.
“Life insurance is a subject no one really wants to think about, but if someone depends on you financially, it’s one you should not avoid,” says Carol Springsteen, President of First Investors Life, citing a recent study that said 30% of people aren’t buying life insurance or enough of it because they don’t like thinking about death.
“In the event of a tragedy, life insurance proceeds can pay for funeral costs, help pay the bills and meet ongoing living expenses, pay off outstanding debt, including credit cards and the mortgage, continue a family business, finance future needs like your children’s education, or protect a spouse’s retirement plans,” Springsteen explains. “Its importance can’t be overstated.”
Despite this, most Americans are severely underinsured and statistics from a 2014 Insurance Barometer Study from Life Happens® and LIMRA, an international trade association for the financial services industry, bear this out:
- 31% say they would feel the financial impact from the death of the primary wage earner in one month.
- 2 out of 3 adults think life insurance is too expensive, but they overestimate its true cost by more than 2 times.
- 40% of women wish their spouse or partner had life insurance or more of it.
First Investors Life is using Social Media to educate Americans about the importance of life insurance. Through its Twitter handle, First Investors Life has committed to posting statistics, research and links to helpful information about life insurance throughout September.
Life insurance policies are offered by First Investors Life Insurance Company (First Investors Life) and distributed by First Investors Corporation; each is a wholly owned subsidiary of First Investors Consolidated Corporation (FICC).
Insurance policies contain certain exclusions, limitations and other terms for keeping them in force and for payment of benefits. For complete costs and details, see your Representative. Policy guarantees apply only to certain insurance features and are subject to the claims-paying ability and financial strength of First Investors Life.
Variable life insurance policies are offered by prospectus only. For more information about First Investors Life variable life insurance policies, you may obtain a free prospectus by contacting your Representative or calling (800) 832-7783. The prospectus contains information about a policy's features, risks, charges and expenses, and the investment objective and risks of the underlying investment subaccounts as well as other information about the variable life insurance policy. Consider this information, and read the prospectus carefully before you invest or send money. Policy availability and features may vary by state. The purchase of a variable life insurance policy is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
Neither First Investors Life Insurance Company nor its affiliates provide legal, tax or estate planning services. Should you require such services, you should consult a legal, tax or estate planning professional.
About First Investors
First Investors Life Insurance Company has been serving the needs of clients since 1962. Today, with our affiliated companies, we offer a wide range of financial products and services including mutual funds, annuities and life insurance.
First Investors Corporation, a financial services leader, is committed to helping individual and institutional customers reach their financial goals through a variety of products and services, including mutual funds, life insurance, annuities, retirement-related services and investment management. For more information, please visit firstinvestors.com.
Foresters™ is the parent of First Investors. Founded in 1874, the fraternal benefit society has over one million members in Canada, the United States and the United Kingdom and supports family well-being through quality products, unique member benefits and inspiring community activities. For more information, please visit foresters.com.
Foresters™ is the trade name and a trademark of The Independent Order of Foresters (Foresters), a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9. Its subsidiary, First Investors Consolidated Corporation (First Investors), is licensed to use this mark. First Investors Corporation is a subsidiary of First Investors Consolidated Corporation. All securities products are offered through First Investors Corporation. First Investors life insurance and annuities are issued by First Investors Life Insurance Company and distributed by First Investors Corporation.