What is Teaming Up for Life?
"Teaming Up for Life" is a program dedicated to educating and informing coaches and their families about the importance of planning for the future, protecting their family's future, and being prepared for the unexpected.
State Farm and the NABC have teamed up to provide seminars at the 2009 NABC Conference and Men's Final Four in Detroit to help coaches understand the importance of proper insurance coverage for all aspects of their life, especially in the areas of Life and Disability Insurance. The seminars will provide tips to assess individual needs and identify gaps in existing plans. In addition to the seminars, State Farm will showcase a booth during the convention that will feature information on insurance and planning.
Why the Partnership between State Farm and the NABC?
In 2007, Wake Forest University basketball coach, Skip Prosser died suddenly of a massive heart attack at the age of 56. The tragic death of Coach Prosser raised many questions among the NABC regarding awareness and protection for their members.
Questions such as:
- What is the proper amount of Life Insurance coverage?
- How do I protect my family and plan for the future?
- What if I become partially or permanently disabled?
At this point, the NABC approached State Farm and asked if they would help provide this vital information to its members through seminars and other communication vehicles.
Insurance Statistics
- Almost 68 million people in the U.S. do not have Life Insurance
- 90% of those individuals who do have Life Insurance are under-insured
- 1.5 million Americans are considered permanently disable and unlikely to ever return to work
- A Census Bureau Study found that a typical 35-year-old making $50,000 a year had enough savings on hand to cover only two months of expenses
- Most disabilities last 90 days or longer
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