Combined Insurance Reminds Consumers of Importance of Life Insurance
September is Life Insurance Awareness Month—a month designated to helping consumers understand the importance of life insurance, coordinated by non-profit organization Life Happens. Combined Insurance, a leading provider of individual supplemental accident, disability, health and life insurance products, and a Chubb company, joins these efforts to help educate Americans about the importance of life insurance.
“Purchasing life insurance is one of the most important decisions we can make in our lifetime,” said Doug Abercrombie, Senior Vice President and Chief Agency Officer at Combined Insurance. “I strongly urge anyone without a life insurance policy or thinking of purchasing one to have a conversation and understand the security it can provide one’s loved ones if or when the unexpected occurs.”
According to a 2016 report published by LIMRA:
- 30 percent of U.S. households (approximately 37.5 million) remain uninsured.
- Approximately 50 million households recognize they need more life insurance.
- According to LIMRA’s Life Insurance Needs Model, it is estimated that 48 percent of households (60 million people) have an average life insurance gap of $200,000.
Combined Insurance issues a variety of life insurance products, and agents are available throughout the country to meet with prospective customers and discuss their insurance needs. The LIMRA report indicates that 64 percent of consumers do not want to purchase life insurance, because they feel it is too expensive when, in fact, it is generally much more affordable than people think.
“We want to encourage consumers to take the time and work with a company or agent who understands your needs and can protect your family when they need it most,” said Abercrombie.
Combined Insurance was founded in Chicago in 1922 by W. Clement Stone. With $100, a positive spirit and a vision to make the world a better place, Stone developed and grew the company into what it is today – still operating in the Chicago area and with agents throughout the United States, Canada and Puerto Rico.
Combined Insurance has an A+ (Superior) financial strength rating by A.M. Best, one of the world’s top insurance rating firms. The company has also been recognized for seven consecutive years on Ward’s 50® Top Performing Health-Life Insurance Companies list.
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About Combined Insurance
Combined Insurance Company of America (Chicago, Ill.) is a leading provider of individual supplemental accident, disability, health, and life insurance products and a Chubb company. With a tradition of nearly 100 years of success, Combined Insurance is committed to making the world of supplemental insurance easy to understand. The company has an A+ rating by the Better Business Bureau and is one of Ward’s Top 50® Performing Life-Health Insurance Companies. Combined Insurance is also a 2017 Top 10 Military Friendly® Employer named by G.I. Jobs Magazine—marking the fifth consecutive year on the Top 10 employer list and third consecutive year in the Top 5. For more information, please visit combinedinsurance.com.
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: chubb.com.
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