September is Life Insurance Awareness Month
September 2, 2025
Every September, the financial industry highlights Life Insurance Awareness Month—a time to pause and consider how prepared your family would be if the unexpected happened. While life insurance is often overlooked, it plays a vital role in financial security, protecting loved ones and ensuring your long-term plans stay on track.
Why Life Insurance Matters
At its core, life insurance provides a safety net. If the policyholder passes away, the death benefit helps surviving family members cover expenses and maintain their standard of living. That support might include:
● Covering day-to-day living costs
● Paying off a mortgage or other debts
● Funding college tuition for children
● Supplementing retirement income for a surviving spouse
● Providing liquidity for estate planning or business succession
Without coverage, families may be left scrambling to replace lost income or sell assets at the worst possible time.
Who Should Consider Life Insurance?
While nearly everyone can benefit, life insurance is particularly important if:
● You have dependents. Parents with young children often need significant coverage to ensure their kids’ financial needs are met.
● You are married or in a long-term partnership. A policy can replace lost income, ensuring your spouse can maintain household finances.
● You carry significant debt. Mortgages, student loans, or business obligations don’t disappear if you pass away. Insurance can prevent loved ones from shouldering that burden.
● You own a business. Policies can fund buy-sell agreements or provide cash flow so a company survives the transition.
● You want to leave a legacy. Some people use life insurance as a wealth-transfer tool or to fund charitable gifts.
Even individuals without dependents sometimes buy life insurance to cover final expenses and prevent their family from facing unexpected costs.
How Much Does Life Insurance Cost?
One of the biggest misconceptions is that life insurance is too expensive. In reality, the cost depends on factors such as age, health, coverage amount, and type of policy.
● Term life insurance is typically the most affordable. It covers you for a set period (10, 20, or 30 years) and is well-suited for income replacement during peak earning and family-raising years. Healthy adults in their 20s or 30s may be able to purchase hundreds of thousands of dollars in coverage for less than the cost of a daily coffee.
● Permanent life insurance (such as whole or universal life) is more expensive but offers lifelong coverage and potential cash value growth. This can make sense for estate planning or those seeking additional long-term financial flexibility.
Leading Life Insurance Providers
When shopping for coverage, it’s important to choose a financially strong company with good customer service and flexible policy options. Some of the most highly rated insurers in 2025 include:
● Northwestern Mutual – Known for strong financial strength and a wide range of permanent life options.
● MassMutual – Offers term, whole, and universal life with strong dividends on permanent policies.
● New York Life – One of the largest mutual insurers with a long history of stability.
● State Farm – Popular for its customer service and ability to bundle with auto or homeowners insurance.
● Prudential – Offers flexible policies, including coverage for people with certain health conditions.
● Haven Life (by MassMutual) – A digital-first insurer known for fast, online term life applications.
The “best” company for you depends on your personal needs, budget, and health profile. Comparing quotes and working with a trusted financial professional can help ensure you find the right fit.
Final Thoughts
Life Insurance Awareness Month is a reminder that protecting your family’s financial future is just as important as saving for retirement or investing. Coverage doesn’t have to be costly, and securing a policy early can lock in affordable premiums.
If you’ve been putting off getting life insurance—or haven’t reviewed your existing coverage in years—September is the perfect time to take action.
Sources:
https://www.mass.gov/news/september-is-life-insurance-awareness-month
Disclosure:
This information is an overview and should not be considered as specific guidance or recommendations for any individual or business.
This material is provided as a courtesy and for educational purposes only.
These are the views of the author, not the named Representative or Advisory Services Network, LLC, and should not be construed as investment advice. Neither the named Representative nor Advisory Services Network, LLC gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your Financial Advisor for further information.
The insurance providers listed in this article are for illustrative purposes only and should not be viewed as an endorsement or recommendation.