Friday, April 27, 2012

People Don't Know about _____

If you spend more time than you should (like me) scouring the Internet for studies about what people know, then you come across a standard survey result.  The form goes something like this:  it's a survey by some special interest or industry group that finds people are generally uninformed about (coincidentally) their topic or special interest -- and therefore action must be taken.

Here's one that fits the model nicely.
A recent poll finds that many Americans feel that life insurance rates are much higher than they actually are.

After conducting a survey of more than 2,000 people, the nonprofit LIFE Foundation and LIMRA found that the average conusmer (sic) thought that a healthy 30-year old consumer would pay $400 per year for a $250,000 20-year term life insurance policy.

While each case is different, the groups said that the actual cost is closer to $150 annually. Younger consumers - who likely qualify for the lowest rates - had even more inflated price expectations.
The foundation is, obviously, tied to life insurance.

I'm not saying there's anything necessarily wrong with this.  Who better to point out how little people know about your topic than yourself?  It's just amusing because I run across so many of these.  On the good side, it keeps survey firms employed.

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