NU Online News Service, Jan. 17, 10:22 a.m. – The National Association of Insurance Commissioners, Kansas City, Mo., is promoting state regulation of insurance by holding its second annual “Get Smart About Insurance Week” from Jan. 20 to Jan. 24.
The NAIC is encouraging consumers to call a toll-free telephone number and visit the NAIC Web site to get information about insurance and state insurance regulators.
“We believe state insurance commissioners are the best resource for insurance-related questions and concerns,” NAIC President Mike Pickens, the Arkansas insurance commissioner, says in a statement about the “Get Smart” program. “State insurance departments are terrific sources of unbiased information. . . . No matter what your situation is, your state insurance department is there to help you get smart about insurance.”
The NAIC also hired a research firm to survey 1,025 adult U.S. residents.
Only 20% of the participants bought extra life insurance for either parent when they had children.
Fifty-three percent of the participants between the ages of 50 and 64 were using life insurance in their retirement planning, but only 38% of adults over age 64 were doing so.