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Insurance Superhero Could Boost Public's IQ!

Back on March 30, I blogged about how most people are clueless about the cost and advantages of employer-paid group health insurance. Now it’s clear ...

By Staff Writer | Updated on April 13, 2010
1589R-16793Back on March 30, I blogged about how most people are clueless about the cost and advantages of employer-paid group health insurance. Now it’s clear such ignorance is merely the tip of the iceberg, with 60 percent failing to correctly answer basic questions about their insurance coverage in a recent survey. This is both a threat and an opportunity for insurance carriers and producers.

It is a threat in that the more uninformed the average consumer is about insurance, the less they appreciate the need for coverage and the critical role the industry plays.

However, this is also an opportunity to educate the public about exactly what insurers bring to the table, and how difficult life would be without them.

The survey by the National Association of Insurance Commissioners showed that ignorance about the industry has its price—as “only 45 percent of Americans feel confident making insurance decisions,” the group reported.

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