Consumers

  • Most common citizens just don't understand policy terms.
  • You have to have faith," said he to his commissioner.
    • You have to have faith or trust that the agent is telling you the truth or explaining it correctly to you.

1993 0525 - GOV (Senate) - When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH)  ---  [BonkNote]

  • ... I am a mother and a grandmother, and what bothers me is that I am afraid that this same misleading information may be the basis of my children's and grandchildren's retirement planning by the same ... type agents, and they may never ask questions, as I have. - (p12)

--  Gloria Darleen Newberry 

1993 0525 - GOV (Senate) - When Will Policyholders Be Given The Truth About Life Insurance? - [PDF-354p-GooglePlay

  • Our research generally indicates that the public can be best described as conservative and risk aversive when it comes to financial matters...
  • ... but perhaps the most remarkable finding has been the stability of the public's financial needs and concerns over the years. 

--  Walter Zultowski, not a member of the Society, is Director of Economics and Consumer Research at LIMRA.

1980 - SOA -  Product Innovation - Response to Consumer Needs in the 1980's, Society of Actuaries - 14p

  • 2023 - AP - Explaining Consumers' Progress Through Life Insurance Decision States: The Role of Personal Values and Consumer Characteristics, by Hazel Bateman, Paul Gerrans, Susan Thorp, Yunbo Zen - 32p