Insurance Commissioner Says "Get Money Smart"
Madison, WI—Wisconsin Insurance Commissioner Ted Nickel is asking Wisconsin consumers to get "Money Smart" during the week of April 18th and review their financial health.
Money Smart Week® Wisconsin was created in conjunction with the Federal Reserve Bank of Chicago and the Governor's Council on Financial Literacy. The week is intended to improve financial literacy across Wisconsin. This year Money Smart Week® Wisconsin features over 200 events scheduled around the state aimed at everyone from children to retirees. The Money Smart Week® calendar of events can be found at
www.moneysmartweek.org.
"This year, Money Smart Week® Wisconsin follows on the heels of the federal income tax filing deadline," said Nickel. "As we reach the midpoint of the week, it is a good time to review your financial picture and make plans for the rest of the year and for the future."
During Money Smart Week® Wisconsin, Nickel reminds consumers to take steps to become better educated about their insurance coverage. For example consumers could:
- Make sure all of your insurance information is located in a safe place and make sure you can find it.
- Consider reading through your insurance policies. Too many consumers are surprised after they have an event because they did not read their policy in the first place.
Part of a financial game plan should include a thorough review of life, health and property insurance policies to maximize coverage at the best possible premium. A review should also include planning for future insurance needs in order to determine if other policies, such as long-term care insurance or annuities, should be a part of their future financial plans.
"As your financial picture changes, so should your insurance coverage," said Nickel. "The primary purpose of insurance is to help protect you and your loved ones from financial hardship. So you should continue to review your coverage annually to see if it is meeting those needs."
OCI offers a comprehensive selection of insurance information that provides information for consumers. Those publications include the
Consumer's Guide to Auto Insurance, the
Consumer's Guide to Homeowner's Insurance, and the
Consumer's Guide to Insurance as well as information on a number of other insurance topics. Additionally, OCI provides consumers with information on insurers and agents. Consumers are encouraged to visit the OCI Internet Web site at
oci.wi.gov.
Created by the Legislature in 1870, Wisconsin's Office of the Commissioner of Insurance (OCI) was vested with broad powers to ensure that the insurance industry responsibly and adequately met the insurance needs of Wisconsin citizens. Today, OCI's mission is to lead the way in informing and protecting the public and responding to its insurance needs.