[Congressional Record (Bound Edition), Volume 153 (2007), Part 18]
[House]
[Pages 25247-25248]
[From the U.S. Government Publishing Office, www.gpo.gov]




                NATIONAL LIFE INSURANCE AWARENESS MONTH

  Mr. DAVIS of Illinois. Mr. Speaker, I move to suspend the rules and 
agree to the resolution (H. Res. 584) supporting the goals and ideals 
of ``National Life Insurance Awareness Month''.
  The Clerk read the title of the resolution.
  The text of the resolution is as follows:

                              H. Res. 584

       Whereas life insurance is an essential part of a sound 
     financial plan;
       Whereas life insurance provides financial security for 
     families by helping surviving members meet immediate and 
     long-term financial obligations and objectives in the event 
     of a premature death in their family;
       Whereas approximately 68,000,000 United States citizens 
     lack the adequate level of life insurance coverage needed to 
     ensure a secure financial future for their loved ones;
       Whereas life insurance products protect against the 
     uncertainties of life by enabling individuals and families to 
     manage the financial risks of premature death, disability, 
     and long-term care;
       Whereas individuals, families, and businesses can benefit 
     from professional insurance and financial planning advice, 
     including an assessment of their life insurance needs; and
       Whereas numerous groups supporting life insurance have 
     designated September 2007 as ``National Life Insurance 
     Awareness Month'' as a means to encourage consumers to--
       (1) become more aware of their life insurance needs;
       (2) seek professional advice regarding life insurance; and
       (3) take the actions necessary to achieve financial 
     security for their loved ones: Now, therefore, be it
       Resolved, That the House of Representatives--
       (1) supports the goals and ideals of ``National Life 
     Insurance Awareness Month''; and
       (2) calls on the Federal Government, States, localities, 
     schools, nonprofit organizations, businesses, and the 
     citizens of the United States to observe the month with 
     appropriate programs and activities.

  The SPEAKER pro tempore. Pursuant to the rule, the gentleman from 
Illinois (Mr. Davis) and the gentlewoman from Illinois (Mrs. Biggert) 
each will control 20 minutes.
  The Chair recognizes the gentleman from Illinois.


                             General Leave

  Mr. DAVIS of Illinois. Mr. Speaker, I ask unanimous consent that all 
Members may have 5 legislative days in which to revise and extend their 
remarks.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from Illinois?
  There was no objection.
  Mr. DAVIS of Illinois. Mr. Speaker, I yield myself such time as I may 
consume.
  As a member of the House Committee on Oversight and Government 
Reform, I am pleased to join my colleague in the consideration of H. 
Res. 584, a resolution supporting the goals and ideals of National Life 
Insurance Awareness Month.
  H. Res. 584, which has 87 cosponsors, was introduced by 
Representative Judy Biggert on July 30, 2007. H. Res. 584 was reported 
from the Oversight Committee on September 20, 2007, by voice vote.
  Mr. Speaker, studies have found that when an unexpected death occurs, 
insufficient life insurance coverage can cause significant economic 
hardship for the loved ones left behind. The lack of sufficient 
coverage drives many family members of the deceased to work additional 
jobs, borrow money, prematurely withdraw money from savings and 
investment accounts, and in many cases to move to less desirable 
housing. It is estimated that 68 million Americans say they lack the 
life insurance coverage needed to ensure a secure financial future for 
their loved ones.
  I support the goals and ideals of National Life Insurance Awareness 
Month because it will make people more aware of their insurance needs 
and motivate them to seek information about obtaining life insurance.
  So, Mr. Speaker, I commend my colleague, Representative Judy Biggert, 
for introducing this legislation and urge its swift passage.
  Mr. Speaker, I reserve the balance of my time.
  Mrs. BIGGERT. Mr. Speaker, I yield myself such time as I may consume.
  I would like to thank my colleague from Illinois, Danny Davis, for 
managing this resolution today.
  Mr. Speaker, I rise today to urge my colleagues to support House 
Resolution 584, which supports the goals and ideals of designating 
September 2007 as National Life Insurance Awareness Month. I also would 
like to thank my friend and colleague, the gentleman from Pennsylvania 
(Mr. Kanjorski), for introducing this resolution with me for the fourth 
year in a row and for his support on this important issue. Congressman 
Kanjorski serves with me both on the Financial Services Committee and 
the Financial and Economic Literacy Caucus and has been an outstanding 
leader on the important issue of financial security.
  I would also like to thank the gentleman from California, Chairman 
Henry Waxman, and the gentleman from Virginia, Tom Davis, for moving 
this resolution through the Committee on Oversight and Government 
Reform.
  And, last, I would like to acknowledge and thank Senator Ben Nelson 
of Nebraska and Senator Saxby Chambliss of Georgia for their 
contributions to this effort. They worked with those of us on this side 
of the Capitol to craft identical resolutions that garnered both 
bipartisan and bicameral support. It's my hope that the Senate will 
soon pass its version of the resolution soon.

[[Page 25248]]

  Mr. Speaker, life insurance too often is thought of only when it is 
too late. How many times have we heard friends or loved ones who are 
sadly reflecting that the deceased had no life insurance or had too 
little life insurance? Today, only 4 in 10 adult Americans own an 
individual life insurance policy; and among those who do have life 
insurance, the amount often is too small to safeguard the financial 
future of their loved ones. Because of insufficient coverage, family 
members often are forced to work extra jobs or longer hours, borrow 
money, or move to less desirable housing. In short, these outcomes are 
only symptoms of the crisis of underinsurance that exists in our Nation 
today.
  Mr. Speaker, House Resolution 584 calls on the Nation to observe the 
month of September as Life Insurance Awareness Month. The Life and 
Health Insurance Foundation for Education, the National Association of 
Insurance and Financial Advisors, the American Council of Life 
Insurers, and a coalition representing hundreds of leading life 
insurance providers and advocates have designated September 2007 as 
Life Insurance Awareness Month.
  Our collective goal for this month is to make consumers more aware of 
their life insurance needs, seek professional advice, and take the 
actions necessary to achieve financial security for their families. 
Many of my colleagues on both the Financial Services and the Education 
and Workforce Committees have been working very hard to increase the 
level of financial literacy and economic education in this Nation. 
Understanding how financial products work and how they work to build 
financial security are 2 important ingredients in a complete financial 
education.
  It is my hope that recognizing Life Insurance Awareness Month will 
motivate Americans to seek out information about the benefits of life 
insurance so that if premature death of a loved one does occur, they 
will be spared the economic hardships that often accompany tragedy.
  I ask my colleagues to join me and support the goals and ideals of 
designating September National Life Insurance Awareness Month.
  Mr. Speaker, I have no further requests for time, and I yield back 
the balance of my time.
  Mr. DAVIS of Illinois. Mr. Speaker, I yield myself the balance of my 
time.
  I will close and just simply reemphasize the importance of this 
legislation. Again, I want to commend Representative Biggert and 
yourself, Mr. Speaker, for leading the way.
  I think many people think of resolutions like this as a simple 
something that has taken place; but I am reminded that in the community 
where I live and work, oftentimes people will die and not have the 
wherewithal with which to bury themselves.

                              {time}  1445

  Our young people will be killed and their families take up a 
collection to get them buried. And so I think that this is a very 
important resolution. I commend both of you, once again, for its 
introduction.
  Mr. Speaker, I yield back the balance of my time.
  The SPEAKER pro tempore (Mr. Kanjorski). The question is on the 
motion offered by the gentleman from Illinois (Mr. Davis) that the 
House suspend the rules and agree to the resolution, H. Res. 584.
  The question was taken.
  The SPEAKER pro tempore. In the opinion of the Chair, two-thirds 
being in the affirmative, the ayes have it.
  Mr. DAVIS of Illinois. Mr. Speaker, on that I demand the yeas and 
nays.
  The yeas and nays were ordered.
  The SPEAKER pro tempore. Pursuant to clause 8 of rule XX and the 
Chair's prior announcement, further proceedings on this motion will be 
postponed.

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