It's important to establish strong financial management skills at an early age. Those who don't may find themselves struggling with debt and failing to set aside enough money for retirement and other expenses.
The Life and Health Insurance Foundation for Education's NextGen3 program aimed at informing high school students about insurance recently won an award from the Institute for Financial Literacy. The LIFE Foundation was established to help educate people on the value of long-term care and life insurance.
"We are honored to be recognized by The Institute for Financial Literacy with this award, it is our mission to educate the American public about insurance and risk," says LIFE Foundation president and CEO Marvin Feldman.
Information is what people need in order to make the most appropriate financial decisions. Life insurance, for example, can provide people with income during their later years in addition to having a cash value. Despite the policy's benefits, a LIMRA study released at the end of August of this year revealed that ownership has declined. Without knowing the benefits of insurance, people may not see the need to buy a plan.