FOR IMMEDIATE RELEASE: September 12, 2022
(LANSING, MICH) September is Life Insurance and Annuity Awareness Month and the Michigan Department of Insurance and Financial Services (DIFS) is reminding Michiganders that it is available to answer questions pertaining to this vitally important coverage.
"Purchasing life insurance or an annuity is an investment in the future. These products not only provide protection for your loved ones, but they can serve to build generational wealth and secure financial stability for your children, grandchildren, or other beneficiaries," said DIFS Director Anita Fox. "Life Insurance and Annuity Awareness Month is a great reminder to look into this coverage and ensure that your family is financially protected. Through our call center, DIFS stands ready to help consumers understand their life insurance or annuity benefits. Those who cannot find important records after the death of a loved one can take advantage of DIFS’ free Life Insurance and Annuity Search Service."
Purchasing life insurance can help provide peace of mind that your loved ones will have the financial resources they need to pay daily bills, cover end-of-life expenses, or pay medical bills if tragedy strikes. Life insurance may also be a key component of a family’s strategy for long-term financial or retirement planning, paying for college, and building generational wealth.
Recent studies show that approximately 65% of Americans do not buy life insurance simply because they don’t understand how to buy a policy and are unsure what type of coverage they need. To help make this process easier, DIFS helps Michiganders with life insurance or annuity concerns by:
The mission of the Michigan Department of Insurance and Financial Services is to ensure access to safe and secure insurance and financial services fundamental for the opportunity, security, and success of Michigan residents, while fostering economic growth and sustainability in both industries. In addition, the Department provides consumer protection, outreach, and financial literacy and education services to Michigan residents. For more information, visit Michigan.gov/DIFS or follow the Department on Facebook, Twitter, or LinkedIn.