The Colorado State Commissioner of Insurance has launched a campaign targeted at educating Colorado consumers about how important it is to obtain Colorado Life Insurance. A recent study conducted by the Colorado Division of Insurance found that only 35 % of young Coloradoans had life insurance and an even smaller number then that could articulate the difference between the two most basic types of Colorado Life Insurance, Term and Permanent. The Division of Insurance in cooperation with the National Association of Insurance Commissioners developed a consumer education program designed to change that and to inform young consumers about the changing needs for Colorado Life Insurance over the course of their lives.

There are two basic types of Colorado Life Insurance, Term and Permanent. Term life insurance pays a death benefit if you pass away within the specified time period of the term, usually 20 years. Permanent life insurance, of which there are different types such as Whole Life or Universal Life, lasts throughout your lifetime, and builds up a cash value in addition to providing a death benefit. Other aspects of Colorado Life Insurance the program seeks to enlighten consumers about are to understand why it is important to have life insurance and how to choose the type of Colorado Life Insurance that is right for you. The Commissioner says that all a young consumer needs to do is think about how many people are dependant upon them, what their bills are, and how much debt their family would be left in should they suddenly die, and it will not take them long to see how important having Colorado Life Insurance is. The program also seeks to inform people about the factors that influence the cost of life insurance premiums, like age, medical conditions, hobbies and high-risk behaviors like smoking.