According to a 2010 LIMRA* study, many U.S. households are significantly underinsured. In fact, LIMRA, a worldwide life insurance research association, states more than 40 percent of all Americans say a major reason they have not bought more life insurance is because they have other financial priorities right now.

Such financial priorities are among the top reasons to not procrastinate. In today’s economic downturn, more people should be certain their family’s financial goals and standard of everyday living are protected in the event of an unexpected death.

Among households with children under 18, seven in ten would immediately have trouble meeting everyday living expenses if a primary wage-earner died today. And consider how financially vulnerable you’d also become if the primary caretaker of these children died or was no longer as available due to having to work more hours to earn more income. There would be long term unplanned childcare expenses, for instance, to consider. Additionally, two-income families would quickly be in financial jeopardy with the loss of either wage-earner.

USBA’s Double Value Two for One® Family Group Level Term Life Insurance plan covers both legally married spouses for the same amount of coverage, pays on whoever dies first, but there’s only one premium to pay … not two. Another important benefit – should both spouses die within 15 days of each other as the result of the same accident, the full benefit amount would be paid for EACH life.

If you’re among the one in four Americans relying on workplace group life insurance to bridge the insurance gap** between your USBA policy and a spouse’s, consider this: in the past year, someone lost their job in 15 percent of all U.S. households**. Having both qualified spouses insured through USBA puts your family in more control of your policy instead of relying on your job. As long as you continue to pay your premiums, all USBA life insurance policies are portable – you can take them with you wherever your career or life’s path takes you.

USBA offers a choice of 5, 10, 15 and 20 year level term life insurance plans, underwritten by New York Life Insurance Company, allowing you to pick the term that best fits your budget, timeline and level of financial protection for you or your spouse and your children. You can enhance your current coverage, add to it with another plan or apply for coverage for your spouse.

Another unique option many USBA members appreciate is our Wise Choice Generation 3 Group Blended life insurance, underwritten by New York Life Insurance Company. It is a combination blending whole life, decreasing term and paid-up additional insurance. It gives you level coverage (the benefit amount doesn’t decrease), with premiums designed to remain level for life.

If it all seems a bit overwhelming, remember our trained Member Service representatives can talk to you about your options. Simply call (800) 821-7912, Monday through Friday, 8am to 4:30pm (CST), or look over all of our available insurance plans here.

Most importantly, please take a moment to look at your current situation to ensure you are NOT one of those families statistically slated to have barely enough insurance to meet the challenges of a financial catastrophe.

*Life Insurance Marketing Research Association
**Results of a 2010 Life Insurance Ownership Study by LIMRA