Many consumers think they know more about insurance than they really do.

Researchers at the National Association of Insurance Commissioners, Kansas City, Mo., have published data supporting that conclusion in a recent summary of results from a telephone survey of 1,000 U.S. adults.

About 56% of the participants said they feel “very confident” about their ability to make insurance decisions, and 90% said they are knowledgeable about their policy coverage.

About 58% understand that health insurance will not protect their ability to pay living expenses if they become too disabled to work.

But only 14% know that experts recommend that a worker should have life insurance with benefits equal to 5 to 7 times the worker’s annual salary, and only 49% know that workers who leave employers and choose COBRA continuation benefits normally must pay 102% of the cost of COBRA coverage, NAIC researchers report.