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Mutuals back NAIFA state-level lobbying effort

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A second big mutual insurer is supporting efforts by the National Association of Insurance and Financial Advisors to reach out to policymakers at the state level.

New York-based New York Life Insurance Company has agreed to provide a gift to the NAIFA Capital 50 fund, NAIFA says.

Related: NARAB board taking shape

NAIFA did not say how much New York Life will be giving. It said another carrier, Milwaukee-based Northwestern Mutual Life Insurance Company provided a significant gift for the effort earlier this year.

Kevin Mayeux, the chief executive officer of the Falls Church, Virginia-based advisor group, said he expects other corporate partners to contribute soon.

NAIFA says it wants to use the state-level advocacy fund to educate state-level elected officials and candidates about how the life insurance industry improves Americans’ financial security.