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...

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

Attachment