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Life Health > Life Insurance

In the Hands of Every American

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What You Need to Know

  • Susan Neely says ACLI members´ products help protect customers against the risk of death.
  • She says those products can help customers build wealth.
  • Some of the people those products could help are members of underserved communities, Neely says.

Through life insurance and other financial protection products we offer, the positions we take and the investments we make, the life insurance industry is primed to advance racial and economic equity throughout the nation. With our Economic Empowerment and Racial Equity Initiative, life insurance companies are working on concrete steps to attain broader economic empowerment in financially underserved communities across the United States.

Our products build financial certainty and enhance the transfer of intergenerational wealth.

Our investments in underserved communities increase the promise of upward mobility for their residents.

Our support for the CEO Action on Diversity and Inclusion pledge commits signatories to make diversity and inclusion a priority within the company, and to create and share strategic inclusion and diversity plans with their boards of directors.

Our support for financial literacy initiatives, including those by Junior Achievement, will empower more young Americans with the tools they need to develop and bolster their financial proficiency for a lifetime.

No matter their age, job, gender or race, all people deserve the chance to build financial certainty that will serve them in good times and bad.

As we enter Life Insurance Awareness Month in September, our industry’s commitment has never been stronger — and the need has never been greater.

For nearly 18 months, Americans have persevered through the wrenching COVID-19 pandemic that has claimed more than 630,000 lives and caused economic and emotional hardship for so many more.

For more than 175 years, life insurance companies have assisted and nurtured American families who have lost a loved one. For the families who have suffered an unspeakable loss, a life insurance policy provides essential financial support when they need it most. And permanent insurance policies offer a critical source of funds for those experiencing economic hardship by allowing them the ability to borrow against the policy’s cash value.

The tragic events spawned by the coronavirus have reaffirmed the importance of life insurance for many Americans. Life insurance sales leapt 11% in the first quarter of 2021 compared to 2020, the highest quarterly growth in nearly 40 years.

America’s life insurance companies are working to put the tools of financial protection in the hands of every American. And we will be there every step of the way, providing people with the peace of mind they deserve by helping them protect their family’s financial future.

(Photo: Monkey Business Images/Shutterstock)

Susan Neely is the president of the American Council of Life Insurers, a group that represents companies that serve 90 million families.


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