Why financial literacy matters
Everyone makes financial decisions — from saving and investing to choosing the insurance cover that fits your needs. Financial and insurance education equips people with the knowledge and confidence to handle these choices responsibly and to build resilience for the future. It is a vital life skill that should be developed and nurtured as early as possible, helping citizens to understand financial products and concepts, make informed decisions, and gain the confidence to take charge of their financial wellbeing.
From savers to investors
This is also essential for the success of the EU’s Savings and Investments Union, which relies on citizens having the skills and confidence to move from passive savers to active participants in capital markets. Without strong financial literacy, people may hesitate to invest, miss opportunities to grow their savings, or fail to assess risks properly — all of which are crucial for building both individual financial security and a stronger European economy.
What young people think
Yet despite this importance, many young people still lack the knowledge and tools they need to feel confident about their financial futures. Findings from a joint survey by Insurance Europe and the European Youth Parliament show that while most recognise the value of insurance and understand how even small investments can grow over time, misconceptions persist — such as the idea that insurance is mainly for older people. Even more concerning, only a small minority feel they received enough education in school to make informed financial and insurance decisions, leaving the majority underprepared for long-term planning.
How insurers support financial literacy
To help address these gaps, the European insurance industry is engaged in a wide range of initiatives across Europe to strengthen financial and insurance literacy at every stage of life — from schools to the workplace. These efforts reflect the industry’s conviction that financial education is a lifelong process. Our Consumer Hub highlights a broad selection of these initiatives from across Europe.
#InsureWisely
Building on this commitment, Insurance Europe and its members have long focused on risk awareness, insurance and long-term saving for retirement. Since 2018, Insurance Europe's activities have been brought together under the #InsureWisely campaign, which showcases the sector’s work through videos, booklets and infographics. Member associations also adapt and use this material to support their national financial literacy activities.
FACTSHEET
Strengthening the EU financial literacy strategy: 12 key recommendations
A set of 12 strategic recommendations aimed at reinforcing financial and insurance literacy across the EU, fostering citizen resilience and informed decision-making.
Activities
Global Money Week
European Retirement Week
Partnership EYP
Publications
Contacts