But if the person selling you that mutual fund doesn't really know what he's talking about, you could be the big loser. Keep your eyes wide open, say the experts.
Insurance is a minefield by itself.
The consumer is going to have extreme difficulty figuring it out but the industry doesn't care. Robert Hunter, director of insurance at the Washington, D.C.-based Consumer Federation of America , suggests keeping your eyes wide open. You have to have a license, meet state standards. Then you need NASD qualifications. The act became law last November, and regulations to put it into effect are being drafted.