DES MOINES, Iowa--(BUSINESS WIRE)--Nearly half of working Americans' main fear is protecting their assets if they were to die unexpectedly(1). At the same time, most do not have enough--or any--life insurance(2). To help address this concern, the Principal Financial Group® is participating in national Life Insurance Awareness Month during September, a time for American consumers to turn this worry into action. Life Insurance Awareness Month is coordinated by the nonprofit Life and Health Insurance Foundation for Education (LIFE).

According to the Life Insurance Marketing Research Association, new philosophies emerging in the life insurance marketplace have made consumers begin to recognize the gap between the protection they need and actual coverage they receive. This gap is said to average $200,000 per household(3). Fear that life insurance is too complicated or expensive may be fueling the gap.

"The numbers show individuals are not adequately covered and demonstrate the need for consumer education and awareness. Consumers need help understanding the importance and simplicity of this critical, yet underutilized asset," said Jerry Patterson, vice president and chief marketing officer of the Life and Health Segment of The Principal®. "Life Insurance Awareness Month is an excellent time to help individuals and families learn about their current coverage and help them identify what coverage they may need."

Throughout September, The Principal urges consumers to set aside time to learn more about their employer-sponsored life insurance coverage and to consider individual coverage options. The Principal has a number of programs designed to help keep consumers on track for a secure financial future including From Here to Security and Financial Security Review. These programs provide tools and assistance to help consumers identify current and future needs.

From Here to Security

This innovative program offers easy-to-read life and disability consumer education booklets along with interactive calculators. The materials are designed to let consumers explore their needs at their own pace and ultimately discover what coverage they need to protect their financial security.

Financial Security Review

Along with help from financial professionals, this annual checkup pulls together information from a variety of sources into one comprehensive, yet simple package of tools. In the kit, financial professionals have everything they need to initiate and complete a review of existing products and determine financial needs for their clients.

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