Life Insurance Awareness Month

People tend to think about life insurance in simple terms - you buy it because, well, you are going to die one day, and just in case that day comes sooner than you'd like, you should be prepared.

As a result, people often relate life insurance to a death benefit, but as we in the industry know, it can be much more. Today, life insurance can do more than ever to help preserve the lifestyles of both policyholders and beneficiaries, with death benefit and living benefit options that can address a variety of financial needs, including: Income replacement

• Paying college tuition
• Providing tax-advantaged retirement income
• Offering financial protection in the case of a disability or critical illness
• Diversifying investment portfolios
• Transferring wealth efficiently, and in a way that is tax-advantaged
• Planning for business continuation

"Clearly Americans see the importance of life insurance, yet it's often viewed as a longer term safety net, and therefore not always considered on the list of day-to-day financial priorities," said Mark Konen, president, Insurance and Retirement Solutions, Lincoln Financial Group. "But the reality is, life insurance is an important component of a sound financial plan as it can help people achieve specific financial goals for today or tomorrow."