September is Life Insurance Awareness Month, a perfect time to take a closer look at one of the most important parts of a sound financial plan: protecting the people you love.
Life insurance isn’t necessarily about planning for the worst. It’s about planning for the people and responsibilities that matter most if life doesn’t go according to plan.
For families, life insurance can help provide financial support for everyday expenses, a mortgage, outstanding debts, education costs, final expenses, and other long-term financial needs.
Why Does Life Insurance Matter?
If someone depends on your income, your financial responsibilities don’t disappear when you’re gone. Life insurance can provide a financial safety net that helps your loved ones maintain stability during an incredibly difficult time.
And yet, life insurance is something many people put off.
According to new 2026 research from Life Happens, 52% of U.S. adults report owning life insurance, while 29% say they don’t have coverage but recognize that they need it. Another 9% say they have coverage but need more. Together, that’s approximately 99 million adults who could benefit from additional help getting the coverage they need.
It’s Easy to Put Off
Interestingly, Life Happens’ 2026 survey found that many people would rather tackle other unpleasant tasks than figure out how much life insurance they need.
In fact, 39% of adults would rather clean out their email inbox than determine their life insurance needs, while 31% would rather clean out a basement or garage.
It’s understandable. Life insurance can feel complicated, and determining how much coverage is appropriate requires thinking about things we would often rather avoid.
But putting it off doesn’t make the need go away.
How Much Coverage Do You Need?
There’s no one-size-fits-all answer. The right amount depends on your individual circumstances.
Consider:
- Who relies on your income?
- How much is left on your mortgage and other debts?
- How much would your family need for everyday living expenses?
- Would you want to help fund a child’s education?
- What would happen to your family’s financial plans without your income?
- Do you already have coverage through your employer, and is it enough?
- Has your financial situation changed since you purchased your current policy?
Life Happens recommends considering who you want to protect, how long they may need financial support, your debts and other financial obligations, and future goals when determining your coverage needs.
Don’t Forget to Review an Existing Policy
Life insurance isn’t necessarily a “set it and forget it” decision.
Marriage, divorce, the birth of a child, purchasing a home, changing careers, starting a business, retirement, or significant changes in income or debt can all be reasons to revisit your coverage.
It’s also important to make sure your beneficiaries are current and that your loved ones know where important policy information can be found.
There’s even a free Life Insurance Policy Locator provided by the National Association of Insurance Commissioners (NAIC). As of September 2026, the tool has helped consumers match with more than $16 billion in lost or unclaimed life insurance and annuity benefits since its launch in 2016.
A Small Step Toward Greater Financial Security
Life Insurance Awareness Month isn’t about encouraging everyone to purchase the same type or amount of insurance. It’s about taking a moment to ask an important question:
If something happened to me, would the people I love be financially protected?
If you’re unsure, September is a great time to start the conversation, review your existing coverage, and speak with a qualified insurance or financial professional about your individual needs.
Because ultimately, life insurance isn’t just about what happens when you’re gone.
It’s about helping protect the life you’ve worked so hard to build, and the people who matter most.
Written by: Life Happens, lifehappens.org
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