Sunday, November 18, 2018

Most Americans admit to not having enough Life Insurance to cover their families’ needs*!


If something happened to you, would your family have enough assets to make sure they maintain their current lifestyle? Will they have enough to pay everyday living expenses, children’s college education and otherwise help them meet all the other financial obligations that you and your income provided for?

For most Americans, the answer is “NO.” According to a recent study 35 million Americans have no life insurance protection at all.* And of those who do have coverage, most don’t have enough to ensure a secure financial future for their families.

When there isn’t enough life protection, surviving loved ones often face very difficult circumstances, such as needing to work additional jobs or longer hours, take out loans or move to smaller, less expensive housing. Among households with children under 18, 4 in 10 say they would immediately have trouble meeting everyday living expenses if a primary wage-earner died today.*

Term Life insurance is one of the more popular life insurance products available in the general market. That’s because it’s considered the “purest” insurance, which means it provides a lump sum death benefit with no bells, whistles or savings features. Term Life is also one of the least expensive types of life insurance.

This type of insurance basically provides protection on an individual’s life for a specified period of time, i.e., a “term.” If the person dies during the “term,” the designated beneficiaries will receive the benefit amount chosen. If the person is still living at the end of the “term,” he or she usually has the option of renewing the coverage; otherwise, the coverage ends.

Term Life insurance can be offered in different “term” options—from annual renewable term to a 10-year term. This helps many people keep coverage as they go through different stages of life, such as when they get married, have children, send children to college, and as they retire. Additional features often included in a basic Term Life Insurance policy include:

  • Choice of flexible benefit amounts that makes it easy to start, replace or supplement existing coverage.
  • Ability to collect a portion of benefits if terminally ill.
  • Convenient Payroll Deduction

CSEA has developed several specially-negotiated Term Life Insurance Plans specifically designed for CSEA Members and their families.  You can use this protection to boost your current coverage or help supplement any existing coverage you may already have. To find out how affordable the CSEA Group TermPLUS or 10 Year Level Term coverage is, call toll-free 1-800-296-2732 or visit our website at


* LIMRA, 2010 Life Insurance Ownership Study

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