FOR IMMEDIATE RELEASE Friday, March 11, 2011

CONTACT: Nancy Doll, Marketing Communications (515) 226-6215, ndoll@fbfs.com

 

Simple Term Coverage Helps Consumers Restore a Financial Safety Net
Farm Bureau Financial Services offers affordable life insurance that can be in place in minutes

West Des Moines, Iowa (March 11, 2011) The number of U. S. households without life insurance is higher than it has been in more than 40 years, according to findings released in 2010 by LIMRA¹, an industry-funded research organization that has surveyed life insurance and financial services trends since 1916. Nearly one-third of all U. S. households have no individual or employer-sponsored life insurance coverage, leaving family members exposed to even more financial hardship when an unexpected, untimely death occurs.

About 35 million households are without coverage today, up from 24 million or 22 percent of households without coverage in 2004. LIMRA attributes this growing gap to the financial challenges middle-income families have faced through the economic downturn and an extended recovery period.

Half of the respondents in LIMRA’s study acknowledged that they need more life insurance, but say they haven’t purchased because they’re living paycheck to paycheck and are focused on paying down debt.

“We know that a lot of families are living on the edge,” says Farm Bureau Financial Services executive vice president, Kevin Slawin. “And too many are living without the safety net that life insurance makes possible. That’s why Farm Bureau Financial Services and its agents are focused on delivering an affordable life insurance alternative that can issue in just a matter of minutes, allowing consumers to begin restoring their financial footing.”

“No medical exam is required,” Slawin adds, “and it’s a cost-effective way to replace income and cover life’s everyday needs – the mortgage and other debts, even prom dresses and baseball gloves … all of the things a family needs to maintain its standard of living after the loss of a loved one.”

Click here for more information about Farm Bureau Financial Services and its Simple Term life insurance coverage.

About Farm Bureau Financial Services
Through an exclusive, multi-state agent force, the companies affiliated with the Farm Bureau Financial Services brand underwrite, market and distribute a broad range of financial services products, including life insurance, annuities, mutual funds and more, to individuals and small businesses within a marketing territory that includes 15 states. To learn more about Farm Bureau Financial Services visit us on Facebook or Twitter.

¹LIMRA, Household Trends in U.S. Life Insurance Ownership 2010. http://www.limra.com. Accessed February. 21, 2011.

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