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There's A Lot Americans Don't Know About Insurance

According to a new survey by the NAIC, only 45 percent of Americans feel confident making insurance decisions and more than 60 percent failed to...
April 14, 2010

According to a new survey by the NAIC, only 45 percent of Americans feel confident making insurance decisions and more than 60 percent failed to correctly answer basic questions about insurance coverage.

A total of 86 percent of respondents said they do not understand all of the terms being used in the current discussion on health care reform. The NAIC survey also found that some of the basics of auto insurance are not well understood, even though it is one of most commonly purchased types of coverage by people of all ages and demographics.

The NAIC conducted the Insurance IQ study March 2-12, 2010, to highlight consumer concerns and questions; uncover misinformation and insurance myths; and underscore the financial and emotional impact of poor decisions.

Click here to take the Insurance IQ test here.

What It Means to Agents: While the lack of knowledge about insurance among the general public is not a positive thing, it does mean that there is a great need for the services provided by Professional Insurance Agents - helping people make informed insurance choices based upon their needs.

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