Whereas, the vast majority of Americans recognize that it is important to protect their loved ones with life insurance, with a recent survey indicating that 80% agree that most people need coverage; and
Whereas, the life insurance industry pays $78.4 billion to beneficiaries in 2022 alone, providing a tremendous source of financial relief and security to families that experience the loss of a loved one; and
Whereas, despite the importance that people place on life insurance and the peace of mind that it brings to millions of American families, there are still too many Americans who lack adequate coverage; and
Whereas, the unfortunate reality is that 106 million American adults are without life insurance or are underinsured and most with coverage have less than most experts recommend; and
Whereas, during times like these when so many families continue to struggle, life insurance coverage is more important than ever because people have fewer financial resources to fall back on than in years past, increasing their financial vulnerability; and
Whereas, the nonprofit Life Happens and a coalition representing hundreds of leading life insurance companies and organizations have designated September [Insert Year] as "Life Insurance Awareness Month," whose goal is to get consumers thinking about their need for life insurance protection, to encourage them to seek advice from a qualified insurance professional and to take the actions necessary to achieve a financially secure future for their loved ones:
NOW, THEREFORE, I, [Insert Legislator Name], [Insert Legislator Title] of the State of [Insert State], do hereby proclaim the month of September [Insert Year] as Life Insurance Awareness Month and urge everyone in the state to learn more about life insurance and its benefits.
Whereas, Long-Term Care Insurance covers a variety of services that help people live at home or in a Long-Term Care facility. These services range from assistance with daily activities to 24-hour care; and
Whereas, more Americans should consider making Long-Term Care Insurance part of their financial and health care planning; and
Whereas, nearly 70 percent of seniors over the age of 65 have a chance of requiring long-term care services in the future; and
Whereas, the median cost for one year in a private nursing home is $94,900, however more Americans have not saved enough to cover these costs, and in 2021 insurers paid $12.3 billion in Long-Term Care Insurance benefits, and
Whereas, under federal law, qualified Long-Term Care Insurance policies are treated the same as health insurance policies. Both premiums for Long-Term Care Insurance and out of pocket expenses may be deducted from federal income taxes if more than the 10 percent base for medical expense deductions:
NOW, THEREFORE, I, [Insert Legislator Name], [Insert Legislator Title] of the State of [Insert State], do hereby proclaim the month of November, [Insert Year] as Long-Term Care Insurance Awareness Month.