The Association for Advanced Life Underwriting is creating an independent political action committee.
The AALU, Falls Church, Va., is forming the PAC, AALU PAC, to help facilitate political advocacy on Capitol Hill, the group says.
Establishing AALU PAC “and integrating it into AALU’s suite of advocacy tools is the latest in a long line of judgments that have positively impacted AALU’s ability to represent its members,” AALU President Larry Raymond says in a statement.
Creating “our own PAC was part of a planned, evolutionary process,” Raymond says.
The AALU can raise up to $5,000 per year from each of its 2,000 members, or up to a maximum of about $10 million per year.
The AALU was founded as a conference of the National Association of Insurance and Financial Advisers, Falls Church. The AALU and NAIFA have been sharing the a PAC.
NAIFA has contributed $512,500 at this point in the 2007-2008 election cycle, according to the Center for Responsive Politics, Washington.
Aflac Inc., Columbus, Ga., ranks first with $781,500 in contributions, and New York Life Insurance Company, New York, has contributed $524,400.
The American Council of Life Insurers, Washington, the life company or organization that follows NAIFA in the ranks, has contributed $188,055.