An educational program that makes insurance and superannuation attractive to teenagers was launched last week by ASIC and the Federal Treasury.

The financial literacy resource, Your Money Starter – Insurance and Superannuation, will be distributed across all secondary schools, and used as a link to the curriculum for finance-orientated subjects including studies of society and the environment, accounting, business, commerce and mathematics.

It includes teachers’ guides, classroom activities, assessments, fact sheets, glossaries and interactive learning systems.

Superannuation and Corporate Law Minister Senator Nick Sherry says the initiative aims to increase awareness of financial risk and responsibility among young people. It will help them recognise the pitfalls of underinsurance and failing to make full disclosure to insurers.

“It will help transition young people into informed adult consumers and investors,” he said.

A Treasury spokesman told insuranceNEWS.com.au that informed consumers and investors “are more likely to participate in the economy and less likely to make costly mistakes or fall victim to scams”.

ANZIIF recently distributed a booklet across all secondary schools and universities to alert young people to the benefits of a career in insurance.