LIMRA says that Valentine's Day is an ideal time to talk to people about the importance of life insurance.

"Love and life insurance are inextricably linked together. Why? Because you want to protect the ones you love," says LIMRA in the Insure Your Love campaign it launched to coincide with Valentine's Day.

According to LIMRA’s research, the top reasons people buy life insurance are to cover burial and other final expenses, to help replace lost income, to help pay off the mortgage, and to transfer wealth or leave an inheritance. "Each of these protects loved ones from financial stress," says the research organisation. "Financial professionals can remind their clients that purchasing life insurance is a great way to say 'I love you' to their families, by keeping them financially secure."

LIMRA has determined that only 44% of American households currently own individual life insurance, which is the lowest rate of ownership recorded in half a century. While half of all households realize they need more coverage, only 10% percent of households will actually buy life insurance this year. For the most part, LIMRA's research suggests that consumers are under the impression that insurance is too expensive or say they that have other financial priorities.

"In 2016, as LIMRA celebrates a century of industry service, we want to let you know that a simple talk can go a long way toward answering questions, allaying concerns, and seeing that your loved ones are protected. And there’s no better Valentine’s gift than that," concludes the message to advisors.