State director addresses TR group: Financial Literacy

As part of National Financial Literacy Month, Department of Banking and Insurance Banking Division Assistant Director for ImageConsumer Finance Patrick Mullen spoke to senior citizens on Friday April 5th, advising them to be cautious and ask many questions when purchasing financial products such as life insurance, reverse mortgages annuities, and long term care.

“We are talking about products that can be used effectively but

Imagecan also be abused when improperly applied to a senior citizen’s financial needs,” Assistant Director Mullen said, at the Ocean County Library in Toms River last Friday.  “This program aims to help seniors avoid pitfalls with these often complex products.” 

Mullen addressed the groups as part of the Department’s ongoing Senior Financial Literacy Program, now in its second year. In that program, Commissioner Ken Kobylowski and Department staff speak to senior citizens about such topics as life insurance, long term care, annuities, reverse mortgages and savings.

April is National Financial Literacy Month, a national public awareness effort to help consumers establish and maintain healthy financial habits, take charge of their personal financial well-being and make smart financial decisions.

 

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