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June Is National Annuity Awareness Month

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NAIFA Celebrates Independence

By NAIFA on 7/3/23 3:00 PM

The Fourth of July, naturally, celebrates our nation’s independence declared in 1776, won through the struggle and sacrifice of the American Revolution, and maintained by generations of Americans throughout the history of the United States. NAIFA joins in this celebration of our country and the freedoms we all enjoy.

The independence won and maintained not only freed the American colonists from the rule of a tyrannical king, but it shines through to the present day and has a strong bearing on the professional lives of NAIFA members and the pursuit of happiness by their clients. Independence is at the heart of our business. We live in a country where agents and advisors are free to offer their services to help others achieve financial security. NAIFA members ensure that Main Street Americans are able to help themselves by attaining financial independence.

NAIFA’s political advocacy, spearheaded by the most influential grassroots force in the industry, promotes laws and regulations that protect our members' clients and strengthen the industry. Our advocacy also guards against policy proposals that go too far and could threaten Americans’ financial security and independence.

A good example is NAIFA’s work to ensure agents and advisors maintain their independence and are able to act in the best interests of their clients. Many NAIFA members are independent contractors and many are business owners. This entrepreneurship gives them the independence and flexibility to look out for their clients as they see fit. It opens a world of products and services that could be limited if they were tied to companies as employees.

Yet, proposals at the federal level and in some states would change the status of many NAIFA members from independent contractors to employees under labor law. NAIFA has made headway in convincing federal and state decision-makers that financial professionals should be exempt from these policies and that independence is crucial to effectively representing their clients. It was a point of emphasis in meetings with lawmakers during NAIFA’s 10th annual Congressional Conference in May and is on the agenda again when NAIFA members hold in-district meetings with members of Congress this August.

If you have not participated in NAIFA’s grassroots efforts or if your participation has waned, there is no better time than now to become engaged. A good way to start is by earning NAIFA’s Financial Security Advocate badge by taking the training provided as a no-cost member benefit. You can also take part in the August in-district meetings NAIFA is coordinating. To learn more, sign in to NAIFA’s Member Portal and click “Grassroots” under the “Advocate” tab. You can also reach out to your state Grassroots Chair for more information.

Independence is fundamental to the United States and is entwined in the work NAIFA members do on behalf of their clients every day. It is central to NAIFA’s grassroots advocacy. This Independence Day NAIFA honors our country and we are grateful for the many opportunities it provides insurance and financial professionals to serve their fellow Americans.



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