April is Financial Literacy Month and four life insurance industry associations have partnered to give life insurance producers the chance to be leaders in the financial services community in promoting and spreading financial literacy across communities.
The Association for Advanced Life Underwriting (AALU), the LIFE Foundation, the Million Dollar Round Table (MDRT), and the National Association of Insurance and Financial Advisors, (NAIFA), have developed the Financial Literacy Resource Center to educate agents and consumers in communities across America about the need to budget, plan for retirement, and make wise financial decisions.
One of the main resources available to life insurance agents is access to the curriculum in the Federal Deposit Insurance Corporation’s (FDIC) “Money Smart Curriculum,” which covers the basics of checking, saving, budgeting and credit. An easy-to-use Toolkit offers steps on how agents can teach this course to clients and prospects locally. Agents can also introduce teachers to NextGen3, an interactive insurance education program for high-school students that teaches the basics of life, disability and health insurance in a real-world context.