April is Financial Literacy Month. In multiple studies, it’s been shown that most American’s have minimal knowledge regarding financial matters. In my own personal experience this extends to Insurance Literacy and the ability to understand life insurance and disability insurance products which is what’s led to the free tools and resources (more to come over the next month) at www.lifeinsurancesage.com. My books provide reference and background information and take you step by step through selecting, purchasing AND monitoring your life and disability insurance policies. The first book “Questions and Answers on Life Insurance: The Life Insurance Toolbook” was awarded an Excellence in Financial Literacy (EIFLE) award from the Institute on Financial Literacy and the follow up books: The Questions and Answers on Life Insurance Workbook and The Questions and Answers on Disability Insurance Workbook (to be released later this month) guide you further. If there are questions or information that will help you better understand life and disability insurance and provide better insurance literacy – please let me know.
The following is a press release from the Federal Trade Commission (FTC) on Financial Literacy Month and free resources they provide: A Great Time to Share Free Resources from the FTC. April is Financial Literacy Month, and the Federal Trade Commission, the nation’s consumer protection agency, has information to help you make the most of your money whether you’re a student, young adult, parent, older person, or military service member.
“At the FTC, we’re focused on stopping frauds that rob people of their last dollar,” said David Vladeck, director of the FTC’s Bureau of Consumer Protection. “In fact, you don’t have to be an expert to help your friends and family avoid scams and protect their money. Financial Literacy Month is a great time to talk to them about their consumer rights.”
Information from the FTC can help people gain mental muscle by understanding how credit reports and credit scores affect the rates and terms they get on loans; how to exercise their rights when dealing with debt collectors; how to protect their personal information and minimize the risk of identity theft; how advertising affects them; and much more:
Money Matters offers short, practical tips, videos, and links to reliable sources on a variety of topics in English and Spanish, ranging from credit repair, debt collection, job hunting, and job scams to vehicle repossession, managing mortgage payments, and avoiding foreclosure rescue scams.
Free Annual Credit Reports offers details about a consumer’s right to a free copy of his or her credit report from each of the three national credit reporting agencies, upon request, once every 12 months. Reviewing one’s credit report regularly is an effective way to deter and detect identity theft.
You Are Here is a virtual mall where kids experience the FTC’s mission by learning about advertising, competition, and how to protect their privacy.
All of the FTC’s financial literacy materials are in the public domain. They can be posted, reprinted, or adapted to educate people about their consumer rights.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s Web site provides free information on a variety of consumer topics. Like the FTC on Facebook and follow us on Twitter. The original press release can be found on the FTC website by clicking here.
Tony Steuer, CLU
California Life and Disability Insurance Analyst
Author: Questions and Answers on Life Insurance