At Real Secrets of Money (RSOM), we focus on all aspects of financial literacy — how to budget, manage debt, and make smart decisions with your money. But there’s one part of the financial picture that doesn’t get nearly enough attention: life insurance. That’s why every September, RSOM observes Life Insurance Awareness Month (LIAM), dedicating four weeks to unpacking why coverage matters and how to get it.

This year’s theme is Life Insurance Step by Step, and it’s designed to take the confusion out of the process. Over the month, we’ll walk through the process of understanding, choosing, applying for, and maintaining coverage, so anybody can understand just how easy it is to get protected.

Instead of seeing life insurance as something complicated, we want you to see it as what it really is: a core piece of your financial safety net.

Step One: Understanding the Basics

Life insurance is simple at its core: it’s a contract that provides a “death benefit” to protect the standard of living of your beneficiaries when you pass away. That payout can cover everyday expenses, replace income, pay off a mortgage, keep a small business running, or ensure a child’s education stays funded. In other words, it provides stability when your family needs it most.

Why It’s Part of Financial Literacy

Think of it this way: you wouldn’t build a financial plan without an emergency fund. Life insurance is important enough to be held at the same priority. It’s not just about what happens if you pass away — it’s about making sure your family’s other financial goals, from retirement to wealth-building, don’t collapse if your income disappears. Life insurance is the financial safety net that supports every other part of your money strategy.

Life insurance is the financial safety net that supports every other part of your money strategy.

Two Categories, Many Options

Every policy you’ll encounter falls into one of two categories:

• Term Life Insurance: Affordable protection with a time limit, designed to cover you during the years you need it most. Term life insurance ends after the agreed upon time period set in the contract.
• Permanent Life Insurance: Lifetime protection that can also accumulate cash value, making it a dual-purpose tool: insurance plus a potential financial resource.

Why LIAM Matters

The best time to secure coverage is far before you think you need it — ideally, when you’re young and healthy. Premiums are lower, and the application process is simpler. But it’s never too late to take action. Waiting only increases both cost and risk, and the peace of mind that comes with coverage is worth pursuing at any stage of life.

LIAM was founded to help those who may not know about life insurance get coverage at the earliest possible time, saving them both money and peace of mind. It’s a reminder that financial literacy isn’t just knowing how to grow money, but also knowing how to protect it. Life insurance is one of the simplest, most effective ways to provide certainty in an uncertain world.

The best time to buy life insurance is far before you think you need it.

Your Next Step

Over the next few weeks, we’ll continue this journey step by step, showing you how to choose the right policy, navigate the application process, and update coverage as life changes. For now, remember this: life insurance is an essential part of true financial literacy. It’s the first step toward protecting your family and your future — and we’re here at RSOM to help you take it.

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