AOAExcel provides affordable coverage and “peace of mind” for you and your family.

September is Life Insurance Awareness Month–where’s yours?

September is Life Insurance Awareness Month and the good news is that 3 in 5 consumers have some kind of life insurance, whether it's through their employer or an individual policy, according to a consumer study by two industry-related groups.

The not so good news, according to the 2018 Insurance Barometer Study a good percentage of consumers don't have life insurance coverage. The number of employers offering insurance is declining. And lastly, only 22 percent of people have both individual and group insurance, leaving their families vulnerable in case of their demise. The study's findings are published by LIMRA and Life Happens.

How can doctors of optometry cushion the financial blow for their family in the event of a tragedy? By purchasing life insurance through AOAExcel's endorsed partner, AOA members can ensure their loved ones are protected. The group term life insurance isn't tied to any employer and can complement any coverage you have through an employer.

AOAExcel group term life insurance offers:

  • Affordable group rates for coverage up to $750,000 in benefits.
  • Accidental death benefits that double the amount beneficiaries receive, up to $500,000.
  • Pay no premiums if you're disabled before age 60 and the disability continues for at least six months.
  • Apply online.

AOA trustee Steven Reed, O.D. purchased his first policy when he was about 25 years old, when he first started practicing.

"I was inspired for two reasons," says Dr. Reed, a graduate of Southern College of Optometry in Memphis, Tennessee, who now operates four practices in Mississippi. "First, I had started a practice and had a fair amount of debt load. I wanted to protect my family from that debt should I pass away. Second, I wanted to provide income for the future so that my family would be provided for.

"Insurance can be confusing, but at the very least I would recommend that a young doctor have a term-life policy," he says. "It's also cheaper to buy when you're younger, assuming you're in good health. It's inexpensive and gives them and their family peace of mind."

Want to learn more? Doctors of optometry can:

September 11, 2018

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