In a recent episode of the BetterWealth podcast, I had the opportunity to discuss the critical role NAIFA plays in the financial service industry, particularly in today’s politically charged environment. I highlighted how the upcoming elections could significantly impact the federal tax code, with key provisions related to life insurance and annuities set to expire in 2025 if no action is taken. This is a crucial issue that could affect countless professionals and their clients.'

Documents are ever-present in the lives of insurance and financial professionals. From policy agreements to annuity contracts to the full slate of disclosures, written agreements and promises are important parts of what you do. 

Today, our nation celebrates one of its founding documents. Along with the Constitution, the Declaration of Independence ranks as the most revered document in the United States. On July 4th, 1776, as we all know, our American forebears used this document to proclaim their independence as a nation. The Constitution, the world’s oldest charter of government still in effect, came just over a decade later and serves as a promise to the American people of the obligations of the government and rights of the governed. 

I hope all of you who have come to Washington, D.C., for NAIFA’s Congressional Conference have taken the opportunity to see original versions of these awe-inspiring documents on display in the Rotunda of Freedom at the National Archives Building. If not, there’s always next year.

While you may not keep client agreements on display in a low-light, helium-filled case under bullet-proof glass, they represent another important type of freedom and independence. They provide American families with freedom from financial worry and small business owners with the independence to pursue the American Dream. On this day that we celebrate our nation’s independence and the freedoms we all enjoy, I am very proud to serve those of you who expand that independence to financial matters for so many Americans.

On behalf of NAIFA’s Board of Trustees and our national staff, I wish each of you a very happy Fourth of July.

Message From the CEO

One hundred and thirty-four years ago today, a group of life insurance agents from different parts of the United States gathered at the Parker House in Boston to create the National Association of Life Underwriters. This organization, which grew into the NAIFA we cherish and celebrate today, was formed to promote the success of the life insurance industry and encourage laws prohibiting life insurance agents from engaging in questionable or unethical practices.

Message From the CEO

Graduates of NAIFA’s Leadership in Life Institute have a deep appreciation for The 7 Habits of Highly Effective People by renowned leadership authority Stephen Covey. They may be familiar with Covey’s quote, “If there’s one thing that’s certain in business, it’s uncertainty.” The same principle applies to life.

Transitions often amplify uncertainty, and among the most uncertain times for many is the transition into retirement. It has been widely reported that 2024 is the year of “peak 65” in the United States, as an average of 11,000 people reach the traditional retirement age of 65 each day. With more than half of peak 65ers owning investable assets of less than $100,000, according to the 2024 Protected Retirement Income and Planning (PRIP) by the Alliance for Lifetime Income (ALI), the unlikelihood of enjoying lasting financial wellbeing is a real concern for many. The 2024 Insurance Barometer Study by LIMRA and Life Happens, NAIFA’s consumer-education arm, confirms this conclusion, revealing that “having enough money for a comfortable retirement” is U.S. consumers’ leading financial concern, ranking even above worries about paying monthly bills and reducing debt.

Message From the CEO

Life Happens, NAIFA’s consumer-education arm, has collaborated for the 14th year with LIMRA to conduct the 2024 Insurance Barometer Study. The findings reveal a great opportunity for financial professionals to educate Americans about the importance of life insurance and dispel some of the myths and misunderstandings that contribute to a life insurance need-gap in the United States. As we wrap up April, National Financial Literacy Month, it’s a great time to remember that an important part of being a financial professional involves improving the financial literacy of clients and consumers.

As we ring in another new year, this is an exciting, historic time for our association. The American public needs the services of insurance and financial professionals more than ever. You and your fellow NAIFA members help them achieve financial security, prepare for retirement, and create enduring financial legacies. NAIFA with you every step of the way, and 2024 promises to be a great year as we continue with the integration of three iconic brands within our industry – NAIFA, the Society of Financial Service Professionals, and Life Happens.

The importance of NAIFA members takes on a particular poignancy this time of year. When we consider many of the things Americans are most thankful for – their families, health, financial wellbeing – it is gratifying to know that we at NAIFA serve a community of insurance and financial professionals who safeguard all these things.