P1 1WHEREAS, Life insurance is an essential part of a sound
2financial plan; and
3WHEREAS, Life insurance provides financial security for
4families in the event of a premature death by helping surviving
5family members to meet immediate and long-term financial
6obligations and objectives; and
7WHEREAS, Nearly 95 million Americans lack life insurance
8coverage needed to ensure a secure financial future for their loved
9ones; and
10WHEREAS, Each year, the life insurance industry pays
11$63,000,000,000 to beneficiaries, providing a source of financial
12relief and security to families that experience the loss of a loved
13one; and
14WHEREAS, Recent studies have found that when a premature
15death occurs, insufficient life insurance coverage on the part of
16the insured results in three-fourths of surviving family members
17having to take measures such as work additional jobs or longer
18hours, borrow money, withdraw money from savings and
19investment accounts, and, in too many cases, move to smaller, less
20expensive housing; and
21WHEREAS, Individuals, families, and businesses can benefit
22greatly from professional insurance and financial planning advice,
23including the assessment of their life insurance needs; and
P2 1WHEREAS, The National Association of Insurance and
2Financial Advisors, the Association of California Life and Health
3Insurance Companies, the American Council of Life Insurers, and
4a coalition representing hundreds of leading life insurance
5companies and organizations have designated September 2015 as
6Life Insurance Awareness Month, the goal of which is to make
7consumers more aware of their life insurance needs, seek
8professional advice, and take the actions necessary to achieve the
9financial security for their loved ones; now, therefore, be it
10Resolved by the Assembly of the State of California, That the
11Assembly recognizes and supports the goals and ideals of Life
12Insurance Awareness Month; and be it further
13Resolved, That the Chief Clerk of the Assembly shall transmit
14copies of this resolution to the author for appropriate distribution.
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