A new study by LIMRA International shows that 44 percent of all U.S. households either don't own life insurance and believe they should, or own life insurance and believe they need more. The study also reveals that three-fourths of American households do not have a personal life insurance agent or a personal financial advisor or planner.

To help consumers make informed choices about life insurance, the Life and Health Insurance Foundation for Education (LIFE) has designated September as Life Insurance Awareness Month.

"There are a number of important events in everyone's life -- marriage, children, a new house, college, retirement -- all of which can affect the amount of financial protection required to support loved ones in the event of premature death," says Mike Fletcher, regional life sales manager for AAA Chicago.

According to Fletcher, consumers procrastinate about life insurance for a variety of reasons: some have questions about affordability; some doubt the need, others have indecision about proper coverage levels. To help ease consumer concerns, LIFE has established a website -- http://www.life-line.org/ -- where basic information is available without pressure to buy. In addition to information, the site offers a "Value and Needs Calculator" that helps consumers determine the best coverage for their individual needs.

  FACTS ABOUT LIFE - 2006
  -- More than 1 in 4 men have no life insurance coverage, and almost
     two-thirds of men aged 18 to 24 have no life insurance.
  -- Nearly 1 in 3 women have no life insurance coverage.
  -- The average amount of life insurance coverage on insured individuals
     reached $146,300 in 2004.
  -- Twenty-five percent of U.S. household heads feel they do not have a
     plan in place to provide a decent standard of living for their family
     if they died tomorrow.
  -- Three-fourths of Americans needing more insurance think they can't
     afford the premium, despite the fact that many are under age 45 and
     could buy term insurance for a modest sum.
  -- Consumers feel buying life insurance is an important and complex
     financial decision. Eight in 10 find it difficult to decide how much
     and what type to buy and worry about making the wrong decision.
     Two-thirds don't know where to buy or who to turn to for help.
  -- Life insurance surpassed all other sources of financial assets or
     income that Americans expect to use to help pay bills and to maintain
     their lifestyle if a primary wage earner dies.