• SOURCE: Prudential Financial

The Risk Of Overestimating The Cost Of Life Insurance



.mp3 audio package
ANCHOR LEAD: September is life insurance awareness month, a campaign that aims at educating Americans about the importance of life insurance and helping them get the coverage they need. For many, lack of coverage isn't necessarily a cost issue. It comes down to information -- or, more precisely, a lack of it. Brian Osuch has the details. (:60) SCRIPT: Financial Fitness, I'm Brian Osuch. Major life events, like marriage or the birth of a child are natural times to consider life insurance or to re-evaluate any coverage you may already have. However, according to a report by the nonprofit LIFE Foundation and LIMRA, consumers believe life insurance costs nearly three times the actual price, which may be deterring them from getting the coverage they need. Mark Hug, executive vice president of product and marketing for Prudential Individual Life… CUT: (Hug) If people think that something is too pricey, they often won't give it a second thought. LIMRA's 2015 Insurance Barometer Study noted 80 percent of consumers misjudge the price for term life insurance. The reality is term life insurance can be very affordable. SCRIPT: Hug says that owning life insurance is fundamental to a family's financial security, and people who are insured through their workplace should make sure they have enough coverage. CUT: (Hug) Our message to the public is simple: If you're one of the tens of millions of Americans who lacks adequate life insurance coverage, act now before it's too late. SCRIPT: For more information, visit Prudential.com. That's Financial Fitness from The Prudential Insurance Company of America, Newark, NJ.
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