September is Life Insurance Awareness Month— and an opportunity to grow your understanding of this important resource. Life insurance can help alleviate financial challenges. With a well-thought-out life insurance plan, one may ensure a home can remain in the family, that college will be paid for, that a business continues functioning, or that a spouse can age in dignity. Life insurance plays a critical role for every family.

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Life insurance comes in many forms and is unique to many situations. The common idea is it provides financial support so your family (or business) does not need to dramatically change after your passing.

Given all these positive aspects of insurance, one might think everyone would already be insured. However, understanding coverage needs and the options available can be complicated, as there is not a clear one-size-fits-all solution. This is likely what has led to some misconceptions about insurance. According to the LIMRA annual Life Insurance Barometer Study last year, more than half of Americans overestimate the cost of insurance by a factor of three. In fact, 44% of Millennials estimated the cost at over six times higher than actual costs. Not only that, but nearly half say the process of buying insurance is too complicated.

This is where myLifeApp comes in. Arvest Wealth Management is pleased to partner with myLifeApp on our new web portal for insurance, which simplifies the insurance exploration process and helps focus on what is most appropriate, so people can make informed decisions with confidence.

On the website, you can receive simplified personalized quotes for four types of insurance in under 60 seconds, after answering a few questions. You will discover quotes quickly for different types of insurance. Whether you want to consider whole life, permanent insurance coverage, or a cheaper term policy to cover a specific need, the web portal has options. Perhaps you just had a new child, or you just bought a house and want to ensure the mortgage will continue to be paid should your income disappear. Perhaps you just want to make sure your income is replaced for your loved ones. You will likely be surprised by how low some of the rates are.

If you would like to learn more about the different types of insurance and specific benefits, there are articles to read in the “Boost Your Financial Know-How” section of the web portal. Best of all, dedicated non-commissioned insurance agents are available to answer questions and help with your insurance coverage decision.

Life insurance is considered both one of the most difficult, and most important, purchases people make and maintain in their lifetimes. To move forward with the purchase, someone needs to imagine a situation without themselves in it, and that is not a fun thing to do. Insurance can help bring peace to that scenario, by providing coverage for the financial aspects to support those you cherish. For some, this peace of mind can improve their mental health and provide a bit of joy every day. The peace of mind that their family or business will continue in their absence.

During this Life Insurance Awareness Month, do yourself a favor and find out what is available. You might find it costs less than a fancy cup of coffee a day to know the mortgage will be paid off. Plus, the peace of mind you get from that knowledge is better than the jolt coffee provides. Perhaps it will be a different benefit. Knowing no family members will need to split or cover funeral costs. Knowing monthly expenses will not be overwhelming. Knowing a lasting legacy will be ensured. Visit our new insurance page and see for yourself.

This content has been prepared by The Merrill Anderson Company and is intended as a general guideline.

© 2022 M.A. Co. All rights reserved.

Investment products and services are provided by Arvest Investments, Inc., doing business as Arvest Wealth Management, member FINRA/SIPC, an SEC registered investment adviser and a subsidiary of Arvest Bank. Insurance products are made available through Arvest Insurance, Inc., which is registered as an insurance agency in 36 states and may be compensated by authorized insurance companies for the sale of insurance. Insurance products are marketed through Arvest Insurance, Inc., but are underwritten by unaffiliated insurance companies. Trust services provided by Arvest Bank.

Investments and Insurance Products: Not a Deposit | Not Guaranteed by the Bank or its Affiliates |
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myLifeApp is a registered trademark owned by Gerber Life Agency, LLC (an affiliated company of Western & Southern Financial Group).

Gerber Life is a registered trademark. Used under license from Société des Produits Nestlé S.A. and Gerber Products Company. In the State of California, Gerber Life Agency, LLC is known as and does business as Gerber Life Insurance Agency, LLC.