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January 05, 2005 at 07:00 PM
The life insurance industry is gearing up to provide money for victims of the tsunami disaster.
Besides the millions of dollars in contributions by life insurers that already have been made and are planning to be made, the entire industry is also establishing two further mechanisms for channeling donations to the needy, according to officials at the American Council of Life Insurers and the National Association of Insurance and Financial Advisors. These officials say the money will be used to provide ongoing relief through donations to major charities for such things as medical care, food, clothing and shelter.
First, a group of organizations have decided to channel their donations through the Million Dollar Round Table Foundation, based in Chicago.
