“There is an insurance knowledge gap among Gen Z adults,” said Andrew M. Mais, association president and Connecticut Insurance Commissioner. “This is a critical time in their lives as they lay the foundation for their financial future, and as an insurance regulator, I know how confusing it can be to navigate the world of insurance. The good news is that you don’t have to figure these things out on your own. There are independent resources available to help consumers of all ages and stages of life get answers to insurance questions and make sure there are no gaps in their coverage.”

A recent survey by the association shows:

• More than half of respondents said they felt “overwhelmed or anxious” about having to deal with insurance.
• About a third of young adults said they would “try to wait as long as possible” before purchasing their own life insurance, and 28% said the same for health insurance.
• Just over one in four Gen Z adults could correctly identify the insurance terms “deductible” (27%) and “co-payment” (29%). A higher percentage (36%) said they could identify “out of pocket,” while only 19% said they could define “out of network.”
• 22 percent of Generation Z respondents are little or not at all aware of the importance of car insurance and 14 percent are little or not at all aware of the importance of health insurance.

However, not all results are negative.

“For example, 61% of Gen Z adults surveyed already pay for their own health insurance, while 49% have auto insurance,” Mais said. “There are several areas where we have a solid foundation to build upon to close the gap or help close gaps in coverage and ensure more people have the coverage they need.”

These departments represent the interests of consumers for all types of insurance and can answer consumer questions or concerns about purchasing insurance, filing claims, appealing denied claims, fraud, or resolving problems with an agent, broker, or provider.