NAIFA is pleased to join our members and industry partners, including Life Happens, to commemorate September as Life Insurance Awareness Month (LIAM). Life insurance is a crucial part of a successful financial plan for many Americans. Unfortunately, many people are underinsured, leaving their families financially vulnerable.

While the stock market tends to dominate news cycles surrounding any current large-scale event, too many average Americans are uneducated when it comes to investing. When many people see reports of record market highs and losses, massive government bailouts, and changing legislation regarding interest rates and taxes, they do not have the educational background or investing experience to translate these headlines into meaningful analyses and applications for their daily lives. Investing education is critical for all Americans, particularly in times of economic turmoil. Consider these benefits of investing education before diving into financial commitments.

If you have children or are planning to start a family in the future, you must be aware of higher education costs. If you have not yet adopted a saving plan, you might get yourself caught up in limbo. But do you know life insurance can be used as a funding source for your children's college fees? Yes, other than funds from your spouse's premature death, life insurance has a saving component known as cash value. This feature of life insurance gives an allowance of portions of your premiums to be invested.