NAIC Launches Consumer Education Web Site

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NAIC on Tuesday launched a public education program called "Insure U." It will feature public service announcements as well as a new Web site, http://www.insureUonline.org , with basic information about insurance.

NAIC said it decided to create the program after research found that many consumers don't understand insurance basics. Studies found, for example, that one in five young singles said they would let their auto insurance policies lapse to save money, while less than half of young families have purchased life insurance for either spouse and only one in eight seniors think they're likely to need long-term care insurance.

In addition to discussing the basics of insurance, the site also offers tips for consumers to avoid being scammed by fake insurance companies.

"For many consumers, understanding insurance and determining what kind of coverage they need to protect themselves and their families can be very difficult," Alessandro A. Iuppa, NAIC's president and the superintendent of the Maine Bureau of Insurance, said in a statement. "State insurance departments across the U.S. have embraced Insure U as a powerful, coordinated initiative to help consumers make smarter insurance decisions."

The Web site is divided into four "life stage courses" depending on whether the consumer is a young single, an empty nester or from a young family or an established family.

NAIC, which is based in Kansas City, Mo., is an association of state insurance regulatory officials.