Education

  • The educational task is huge, and it’s not just with the customers; it’s with our agents also. 
    • I would say to all of you that if you think that you don’t have any customers or any agents who fail to understand what a nonguaranteed illustration really means, you’re kidding yourself.

—  Walter Miller, Prudential

1991 – SOA – Illustrations, Society of Actuaries – 20p

  • <1> We want you to know that Financial Education is important, but that many other groups are better situated to design deliver and evaluate education than NAIC is.  
  • We think NAIC’s most important role in Retirement Security is to make sure that consumers can safely buy well-designed insurance products in stable insurance markets.
  • … NAIC should focus it’s efforts on consumers who have fewer resources.
  • <3> 4th Graders / 12th Graders
  • Teachers are going to teach what they know and what they are interested in and Insurance will be one of the items that gets short changed….
  • So….. this concept of Just in Time education ….suggests that it will be most effective after high school.

— Brenda Cude

  • Knowledge lets consumers make rational decisions…
  • However, as I say often, consumers do not make rational decisions….
  • We know that knowledge is necessary to make a plan… so, that we can get the security we want in our lives.
  • Our attitudes, our beliefs… they really come from our life experiences and they point us to different actions…

 

  • National Endowment for Financial Education Task Force (College Level)

  • Teachable Moments

2020/1/ – NAIC – RETIREMENT SECURITY Conference Call – NAIC, Cude / Kitt Presentation – <Bonk>

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