(Washington, DC) September is Life Insurance Awareness Month, and the District of Columbia Department of Insurance, Securities and Banking (DISB) will be joining forces with District-based nonprofit associations to keep consumers constantly informed with tips about life insurance throughout the entire month. This month is designed to help increase public awareness about the importance of life insurance in providing protection for future contingencies that may arise and the benefits of obtaining advice from financial advisers and agents.
“Having a Life Insurance Awareness Month gives us an opportunity to focus on helping District consumers understand their changing needs based on changes in their financial situations and their life stages,” said DISB Commissioner Thomas E. Hampton. “With disasters like hurricane Katrina, the September 11 terrorist attacks, and the recent Tropical Storm Ernesto, people’s insurance needs change. Too often, they do not change their policies to match these needs. As regulators, we want to get people thinking about the unexpected and the ‘what ifs’ in life. Millions of individuals and households are either uninsured or underinsured, leaving them financially vulnerable if a breadwinner suddenly passes away.”
Hampton will join the District of Columbia Insurance Federation (DCIF), the American Council of Life Insurers (ACLI) and the National Association of Insurance and Financial Advisors of the Greater Washington Area (NAIFA-Greater Washington Area) on Friday, September 15, 2006, for a press conference. Hampton will deliver Mayor Anthony A. Williams’ proclamation that designates September 2006 as Life Insurance Awareness Month in the District of Columbia, and he will recite the proclamation at DCIF’s membership meeting. Several District residents whose lives have been turned around because of life insurance will also be on hand to give testimonies.
To launch the month, Hampton made an appearance on WUSA-TV9’s Mind over Money program on September 1, to discuss renters insurance for college students and for District residents to consider the “what ifs” in life.