NAIFA President Tom Michel

NAIFA has come through the COVID-19 pandemic and remains strong with momentum to move us forward through Year Three after NAIFA’s reformation at the beginning of 2019, President Tom Michel told attendees of the State of NAIFA Q2 webinar.

I’ve given dozens of talks on the need for financial professionals to navigate the digital landscape effectively, and invariably the conversations veer into the arena of “what’s the newest, best tech to help me grow?” As a self-avowed tech junky, I am always obliged to engage in this conversation, because it’s a lot of fun to talk technology.

Gary Cappon, CLU^®, LUTCF, RICP, FSCP, CLTC, is the President of NAIFA-NY and has been a loyal NAIFA member since 2006. He practices with Cadaret Grant & Co., in Syracuse, NY, where he is the Vice President of Sales and Fixed Annuity Insurance Solutions and assists financial professionals from all over the country with every aspect of the planning process. This role enables him to use his knowledge and skills to provide solutions to complex problems.

Carina Hatfield, LUTCF, CLCS, LACP, is the owner of Weigner Insurance & Financial Services Inc. and recently served as a subject matter expert in the development of the new LACP online prep course. Located in Pottstown, PA, Hatfield's practice serves small businesses and young families in southeastern Pennsylvania. Her clients are quintessential Main Street USA.

NAIFA member Richard Demko offers his insight and expertise in a Best’s Review article on how COVID-19 could impact life insurance underwriting. He is a life insurance expert who is Past President of NAIFA’s Houston chapter and a 2020 recipient of NAIFA’s Four Under 40 Award, presented by Advisor Today. He is also the Director of Insurance at Centric Advisors, a NAIFA 100% Agency.

Based on the statutory language of the SECURE Act, most tax experts had concluded that a typical non-spouse beneficiary would have ten years to liquidate an inherited IRA or other qualified account—and that it would NOT be necessary for the beneficiary to take RMDs along the way.

Mitchell “Mitch” Ostrove, CLU^®, ChFC^®, LACP, serves as the VP of Professional Development on the NAIFA-NY Board and has been a loyal NAIFA member since 1965. He practices with The Ostrove Group, in White Plains, NY, where he specializes in insuring small, closely-held corporations.

Mitch’s introduction to the financial services industry came after a family friend suggested that he go into the property and casualty business because of his experience in hospitality management. Mitch is a graduate of the Hotel and Restaurant School of Cornell and the New York State Restaurant Association was a client of his family friend’s insurance agency thus making it the perfect fit.

What happens when you bring NAIFA's Young Advisors together...You experience the power of NAIFA Nation. Last week the YATs held their first all YAT call, inviting YAT chairs from across NAIFA Nation to come together. Nearly 30 chapters were represented on the call. Leaders discussed the role of our young professionals in the 2025 Strategic Plan, members were informed of engagement opportunities, and NAIFA-PA YAT Chair, Trish May, shared her success story of member engagement.

Many older Americans struggle to make it financially and maintain the coverage for the care that they need. The pandemic and the cost of healthcare and medications have only compounded an already difficult situation. Medicare has made provisions to assist individuals through their Medicare Savings Programs (MSPs). An individual's income and assets will be considered when determining eligibility for these programs. The following outlines what these programs provide and their criteria. While the federal government sets the minimum criteria, state governments determine final eligibility and may use less restrictive criteria.

Neil Himmelstein serves as the Vice President of Membership for NAIFA-NY and has been a loyal NAIFA member since 1997. He practices with Main Street Planning Group, in Center Moriches, NY, where he specializes in high-net-worth programs such as Premium Finance and Restricted Property Trust and finding solutions for clients with health impairment needs.