Important things to know about Shopping for Insurance

Nov 16, 2022Financial Literacy

Insurance is something you hear a lot about but might not fully understand the specifics. Some insurance is required while other types are for your own peace of mind.  Regardless of the type, it is important to understand what to consider while shopping for insurance and how to avoid bad deals or scams.   

Using the free *Native American Financial Services Association (NAFSA) Financial Literacy Program, you can explore online playlists with many modules that relate to overall financial competency, whether this is understanding credit cards or preventing overdraft fees, our curated playlists will provide you with important information.

Shopping for Insurance:

Our Shopping for Insurance module, located in the Investing in Your Future playlist explains different types of insurance such as car, homeowners/renters, life, and more, and breaks down deductibles and premiums.  This module even charts out different deductibles as they relate to coverage amounts, calculating what the monthly payment will be.  It’s very easy-to-understand and has practical applicability. 

The module helps you understand some of the important questions to ask before buying insurance, while also providing helpful tips to avoid bad deals and scams. Like many decisions we make that impact our finances, insurance deserves your time and attention.  Acquiring better knowledge of the facts related to buying insurance can help you ultimately make the best selections for your own needs. 

The NAFSA Financial Literacy Program provides a variety of modules and tools with easy-to-understand information to help people better comprehend their finances and make more informed decisions.

Explore the program today:

*The NAFSA Financial Literacy Program content contained on the NAFSA web page(s) referenced above, and on any subsequent pages created by our service providers/partners, provides general consumer information. It is not legal advice or regulatory guidance. There may be other resources that also serve your needs and you are always encouraged to, and should, consult with your own professional advisors prior to making any financial decisions.

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