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Americans' "Insurance IQ" Needs Improving

In these uncertain financial times, knowledge is your best policy - especially when it comes to insurance. According to a new survey commissioned...
March 17, 2009

In these uncertain financial times, knowledge is your best policy - especially when it comes to insurance. According to a new survey commissioned by the National Association of Insurance Commissioners (NAIC), a vast majority of Americans believe they are smart about insurance, but a deeper look at the issue tells a different story. This apparent lack of knowledge contrasts sharply with confidence levels expressed by respondents to the NAIC survey.

"Now, more than ever, consumers need to be mindful of the impact their insurance decisions can have on their financial future," said NAIC Chief Executive Officer Terri Vaughan. "By arming themselves with the facts - and improving their Insurance IQ - consumers can make sure they are adequately protected, without paying more than they should for that coverage."

Americans Insurance Savvy? NAIC "Insurance IQ" Survey Says No (NAIC 3/10/09)

Executive Summary of NAIC "Insurance IQ" Survey (PDF file)

Take the "Insurance IQ" Quiz Here

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