Test your insurance IQ
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16 March 2009
END PAGE; Pg 23
234 words
Test your insurance IQ
What you do not know can hurt you.
Judging by the results of a recent survey commissioned by the National Assn. The commissioners of insurance, most U.S. residents do not know all that much insurance.
In fact, in 1000 adults interviewed recently posted the paltry average of four correct on a quiz of 10 questions was designed to test the `` Nation''insurance IQ, according to Kansas City, Mo.-association. The NAIC noted in a statement that the rate of 40% amounts to a strong `` `F 'by most of the grading standards of education.''
What most people do not know? Only 41% knew that the automobile insurance does not automatically cover a rental car. Only 19% realized that the requirement for mortgage insurance in the private sector on a newly acquired house depends on the size of the deposit and the lender, almost 30% thought the coverage was required by law.
In addition, only 49% knew that those who lose their jobs and choose COBRA continuation of health care must pay the full premium.
But before taking the test, almost 60% of respondents claimed to be `` very confident''overall assurance of their capacity for decision-making, while only 15% expressed uncertainty on this capacity, depending the NAIC.
Those interested in testing their IQ insurance can do so by going to the association www.insureuonline.org.
If you fail, do not despair, the book `` insurance for nuls''est available for some time now.
20 March 2009
Copyright © 2009 LexisNexis, a division of Reed Elsevier Inc.. All rights reserved
Terms and Conditions Privacy Policy
16 March 2009
END PAGE; Pg 23
234 words
Test your insurance IQ
What you do not know can hurt you.
Judging by the results of a recent survey commissioned by the National Assn. The commissioners of insurance, most U.S. residents do not know all that much insurance.
In fact, in 1000 adults interviewed recently posted the paltry average of four correct on a quiz of 10 questions was designed to test the `` Nation''insurance IQ, according to Kansas City, Mo.-association. The NAIC noted in a statement that the rate of 40% amounts to a strong `` `F 'by most of the grading standards of education.''
What most people do not know? Only 41% knew that the automobile insurance does not automatically cover a rental car. Only 19% realized that the requirement for mortgage insurance in the private sector on a newly acquired house depends on the size of the deposit and the lender, almost 30% thought the coverage was required by law.
In addition, only 49% knew that those who lose their jobs and choose COBRA continuation of health care must pay the full premium.
But before taking the test, almost 60% of respondents claimed to be `` very confident''overall assurance of their capacity for decision-making, while only 15% expressed uncertainty on this capacity, depending the NAIC.
Those interested in testing their IQ insurance can do so by going to the association www.insureuonline.org.
If you fail, do not despair, the book `` insurance for nuls''est available for some time now.
20 March 2009
Copyright © 2009 LexisNexis, a division of Reed Elsevier Inc.. All rights reserved
Terms and Conditions Privacy Policy
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