More than 140 life insurance professionals from across the nation visited Capitol Hill last week to talk to members of Congress about the role life insurers’ products play in American families’ financial lives.
The event was planned as sequestration and avoiding a financial crisis are a top priority in Washington, D.C.
Americans to Protect Family Security, a partnership of America’s life insurance companies, agents, and financial advisors, organized the ‘fly-in.” Coalition partners educate policymakers about the reasons families turn to life insurance companies and trusted agents and advisors to protect their financial futures with life insurance, annuities, long-term care, and disability income insurance, according to the organization.
Americans to Protect Family Security includes the American Council of Life Insurers (ACLI), Association for Advanced Life Underwriting (AALU), GAMA International, Insured Retirement Institute (IRI), National Association of Independent Life Brokerage Agencies (NAILBA), and National Association of Insurance and Financial Advisors (NAIFA).
Fly-in participants also stressed to Congress that at a time of strained federal entitlement programs, as well as state and local programs, life insurance industry products represent solutions to Americans’ financial and retirement security concerns.
Attendees discussed with members of Congress how life insurers’ products help Americans today, the group said, citing the following examples:
- 75 million American families count on life insurers’ products for peace of mind, long-term savings and a guarantee of lifetime income when it’s time to retire.
- The life insurance industry pays out $1.5 billion every day through payments from life insurance, annuities and other retirement products, long-term care insurance and disability income insurance.
- Savings in permanent life insurance and annuities represent more than 20 percent of Americans’ long-term savings – that’s one in every 5 dollars saved.
Life insurance professionals lobby Congress during fiscal talks via IFAwebnews .
