What You Need to Know
- An insurer group released results of a survey of the clients of commission-based agents.
- The list of insurer conference sponsors includes Aflac, Principal and many mutual insurers.
- The keynote speaker is Sen. Ben Sasse of Nebraska.
The National Association of Insurance and Financial Advisors is sending more than 500 NAIFA members this week to Capitol Hill to sell lawmakers on the idea that earning a living by protecting Americans against mortality, morbidity and longevity risk is an honorable thing to do.
NAIFA members began flying to Washington on Sunday for the group’s two-day congressional conference, which started Monday.
The conference has NAIFA members from every state and the District of Columbia mobilized to walk the halls of the Capitol and the congressional office buildings in an effort to talk to any member of Congress or congressional staff member about NAIFA priorities.
What It Means
Lawmakers are heading into the last major period for legislative activity before the midterm elections.
Members of Congress are looking for ways to raise fees and taxes to generate revenue they can use to pay for efforts to help Ukraine, strengthen pandemic response efforts, aid struggling Americans and support U.S. schools and research labs.
Lawmakers and staffers will enter those sessions with memories of NAIFA members defending the current tax rules for life insurance, annuities and employer-sponsored retirement plans, and arguments about why, from NAIFA members’ perspective, those tax rules are an investment in helping Americans help themselves and reduce their dependence on government programs for those in need.
The conference has attracted Sen. Ben Sasse, R-Neb., as its keynote speaker.
The list of corporate sponsors includes three publicly traded insurers: Aflac, American National and Principal Financial.
It also includes six policyholder-owned mutual life insurers: Guardian, MassMutual, New York Life, OneAmerica, Northwestern Mutual and State Farm, along with the American Council of Life Insurers and Gateway Financial Advisors.
NAIFA identifies many of the conference attendees as supporters of its political action committee.