Joe Jaspers photo

Joe Jaspers, CFP®

Vice President, Wealth Management

 

Carolinas Telco Capital Advisors

Located at Carolinas Telco FCU

9813 South Blvd, Suite 101

Charlotte, NC 28273

 

Phone:     704-391-5600

Toll Free: 800-622-5305, ext. 2608

Fax:         704-556-1652

 

Email: joe.jaspers@lpl.com

September/October 2022

What Do You Know About Life Insurance?

According to research, 42% of households would face financial hardship within six months should a wage earner die; 25% would suffer hardship within one month.* September is Life Insurance Awareness Month, an annual campaign to educate people about the importance of life insurance and its ability to provide financial security for families.


LIMRA’s 2021 Life Insurance Misconceptions Barometer Study* looked at some of the myths people believe about purchasing life insurance.


It's too Expensive
More than half of study respondents overestimated the price. The annual cost of a policy for a healthy 30-year-old is around $160, but 44% of millennials estimated it to be $1,000.


Workplace Life Insurance is Enough
Only 29% of Americans believe they have enough coverage through their work. But median employer coverage is only one-year’s salary.**


I Won't Need it Until I'm Older
Life insurance is far less expensive when you’re young and healthy. Nearly four in 10 people said they wished they had purchased a policy at a younger age.


* LIMRA — a worldwide research, consulting, and professional development organization.
** https://www.businessinsider.com/personal-finance/group-lifeinsurance


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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Carolinas Telco FCU and Carolinas Telco Capital Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Carolinas Telco Capital Advisors, and may also be employees of Carolinas Telco FCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, Carolinas Telco FCU or Carolinas Telco Capital Advisors. Securities and insurance offered through LPL or its affiliates are:

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