Because September is National Life Insurance Awareness Month, consumers should take advantage of the extra literature and information regarding life insurance options and benefits available to them from providers and agents.
"The good news is that life insurance companies have recognized the need to simplify and better explain their products," said Shayna Schulz, Allstate vice president of corporate relations. "Navigating the decision to purchase life insurance is not as complicated as you might think – especially with a bit of assistance from a licensed life insurance agent."
According to Schulz, consumers looking for life insurance coverage should seek help on deciding on a plan from a professional after researching their options beforehand. When deciding what provider to work with, go with a company that has a good reputation and a strong financial history. In addition, consumers should make sure to understand any life insurance product before purchasing.
Insurance providers are continuing to work on ways to improve their products and services offered to clients. At a recent panel discussion, Stephen Farrier - principal and CIO of Madison Strategic Partners life insurance -shared with peers some insights into life insurance best practices. Among the many topics discussed, Farrier emphasized rigorous analysis and well-balanced diversification can result in a profitable life assets portfolio for clients and the company.