Life Insurance Awareness Month

By virtue of the authority vested by the Constitution of Virginia in the Governor of the Commonwealth of Virginia, there is hereby officially recognized:

WHEREAS, life insurance provides financial security to families who suffer an unexpected loss, helping surviving family members meet immediate, ongoing, and future obligations; and

WHEREAS, 90 million American families depend on life insurers’ products to protect their financial and retirement security; and

WHEREAS, life insurers paid out $3.86 billion in life insurance benefits to Virginia families in 2022; and

WHEREAS, Virginia residents own 3.7 million individual life insurance policies, with coverage averaging $161,000 per policyholder; and

WHEREAS, life insurance companies invest approximately $168 billion in the Virginia economy through stocks and bonds that help finance business development and create new jobs; agricultural loans; education and affordable housing bonds; retail mortgages, and more; and

WHEREAS, there are 404 life insurers licensed to do business in Virginia, generating approximately 43,500 jobs; and

WHEREAS, the American Council of Life Insurers and the Virginia Chapter of the National Association of Insurance and Financial Advisors desire to raise awareness of the importance of access to affordable financial protection products;

NOW, THEREFORE, I, Glenn Youngkin, do hereby recognize September 2024, as LIFE INSURANCE AWARENESS MONTH in the COMMONWEALTH OF VIRGINIA, and I call this observance to the attention of all our citizens.

Governor of Virginia

Proclamations