Supporting the Goals and Ideals of National Life Insurance Awareness Month

SUPPORTING THE GOALS AND IDEALS OF NATIONAL LIFE INSURANCE AWARENESS MONTH -- (House of Representatives - July 25, 2005)

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Mr. DAVIS of Illinois. Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise in support of H. Con. Res. 181, which expresses the sense of Congress regarding the importance of life insurance.

Life insurance provides financial security for families in the event of a premature death by helping surviving family members to meet immediate and long-term financial obligations and objectives.

Fifty million Americans say they lack the life insurance coverage needed to ensure a secure financial future for their loved ones. Yet the need for life insurance is well documented.

Recent studies have found that when a premature death occurs, insufficient life insurance coverage on the part of the deceased often results in the surviving family members being placed under an insurmountable burden, forcing family members to take on extra jobs, work longer hours, borrow money, and spend less time with their families. This takes place at a time when spending time with loved ones is important to healing and recovering from the tragedy of losing a family member.

By designating a month each year as Life Insurance Awareness Month, we are establishing just how important it is to families to learn and educate themselves about life insurance. As a society, we must take steps to make sure that our children are provided for and are safe.

By supporting Life Insurance Awareness Month, we are signaling to the American people that this is an important issue that they should consider in their financial planning.

Mr. Speaker, I yield back the balance of my time.

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