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News Release

New Jersey Department of
Banking and Insurance

Commissioner Ken Kobylowski

For Immediate Release:
August 26, 2013

For Further Information:
Ed Rogan or Marshall McKnight (609) 292-5064

Christie Administration Helps Seniors Boost Understanding of
Appropriate Financial Products

SUCCASUNNA — Department of Banking and Insurance Commissioner Ken Kobylowski last week advised a group of senior citizens to be careful and be sure to ask many questions when purchasing complex financial products such as life insurance, annuities, reverse mortgages and long term care.

“With proper education and knowledge, many financial products which may initially seem complex and confusing, can in fact be manageable, good investments,” said Commissioner Kobylowski to a group of more than 60 seniors at Roxbury Senior Center in Succasunna. “These are important financial decisions that you may be facing or may face in the near future. We want to bring you the information you need about these financial products to help you make educated decisions and avoid fraud.”

Senior Financial Literacy program in Succasunna
Commissioner Ken Kobylowski speaks with Succasunna seniors about potential financial issues they face.

Commissioner Kobylowski spoke to a group as part of the Department’s ongoing Financial Literacy program for seniors, launched last year, in which Department staff members talk to seniors about the many financial products designed for them.

The program for seniors complements the Department’s ongoing Financial Literacy program for high school students. For the last seven years, the Department has conducted financial literacy programs for high school students and spoken to thousands of students in school across the State about topics including basic personal finance, the importance of credit and how to manage credit cards. This summer, the Department also began a financial literacy program for college students.

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