When Life Changes in an Instant, Life Insurance Provides the Comfort of Consistency
Senior Vice President, Federal Relations, ACLI
September 24, 2018
Two friends that I have known for a long time lost their spouses during the past two years. The circumstances were sudden and unexpected. They both have children, and their lives changed in an instant.
At one point or another, we’ve all considered what it might be like to experience such a loss—and how it changes families. As someone who advocates on behalf of the life insurance industry, I often hear about the role of our industry after such heartbreaking events. I was curious about my friends’ perspectives.
So I asked them: Did life insurance help your family, and if so, how? Without question, they both said yes. In a word, it provided consistency.
They could stay in their homes. Their kids could stay in their schools. They didn’t have to worry about money for the immediate time being. While life insurance could never assuage my friends’ grief, the policies their spouses held did help to ensure that nothing else around them had to change immediately. It offered consistency until they could figure out their new normal.
“While we’ve had to make many changes—I’m a single parent now with young teenagers—my children can still live the lives my husband and I have always hoped for them,” one friend said.
“The kids are still doing what they’re supposed to be doing,” said the other.
Every September is Life Insurance Awareness Month, when we recognize the importance of life insurance and educate American families about the value of holding a life insurance policy as a part of a financial plan.
During a month like this, it's easy to get lost in statistics—the number of people who hold life insurance policies or the average coverage amount. That’s why I’m sharing my friends’ stories. Life insurance gave them peace of mind. It alleviated a potential financial burden resulting from the loss of their spouse. And it allowed them to continue to support their own and their children’s hopes and dreams after unexpected and unimaginable tragedy.
Alane R. Dent is the senior vice president of Federal Relations at the American Council of Life Insurers (ACLI). She manages a team of federal lobbyists covering tax, financial services, trade, and retirement security issues of importance to the life insurance industry on Capitol Hill and the Administration.