(BPT) - When it comes to financial literacy, parents know it’s important to give kids the knowledge and skills they need to manage money. In fact, 81 percent say it’s their responsibility as parents to teach children about money and saving, according to a 2012 survey by the website DoughMain. While you’re teaching children about smart spending, saving and credit management, don’t forget to discuss another important aspect of financial health: insurance.
“Parents should explain insurance in terms kids can relate to. They can explain how insurance is like a protective bubble they can put around the things that are important to them, like a beloved pet, their cellphone or their home,” says Robert B. Pollock, president and CEO of Assurant Inc.
The leading provider of specialty insurance recently began sponsoring an “insurance store” at the Junior Achievement Discovery Center in Atlanta, where students learn important financial literacy and entrepreneurial skills. Assurant is a founding partner in the 50,000-square-foot center, which opened in August.
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