Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
A recent study by an insurance industry trade organization found that a big reason people don't understand insurance is that insurance people don't use "authentic language" in their communications, according to a release from Smart's Publishing.
"These study results probably come as no surprise to anyone," said James Whitaker, publisher, Smart's Publishing. "But that's only half of the problem. Many people in the media who write or talk about insurance don't have a very deep understanding of what they're talking about. These are the reasons we created TheInsurance411.com.
"As a business, do you need employment practices liability? Do closely held corporations need directors and officers liability insurance? What about environmental coverage? Is terrorism covered in your business owners policy? There are so many types of insurance available today, both personal and business. It's hard to know exactly what they cover and more importantly, what they don't. And which you really need and which may not be that necessary."
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