NAIC Approves Military Sales Model Regulation
Contact
NAIFA: Lee Allen
Vice President of Communications and Marketing
703-770-8112
ACLI: Jack Dolan
(202) 624-2418
Washington, D.C. (June 4, 2007) - The American Council of Life Insurers (ACLI) and the National Association of Insurance and Financial Advisors (NAIFA) laud the National Association of Insurance Commissioners for approving the NAIC Military Sales Model Regulation. The model is designed to curtail abusive life insurance sales practices at military installations.
"We applaud the NAIC for working to financially protect the soldiers who bravely defend our nation. The men and women who serve in our armed forces make many personal sacrifices to ensure our freedom. Financial security should not be one of the sacrifices they have to make," said ACLI President and CEO Frank Keating.
"The men and women who serve in the military deserve no less than our full commitment to help them financially, which is why the life insurance industry has worked closely with the NAIC to ensure that our soldiers get the services they need with the protections they deserve," said NAIFA CEO David F. Woods.
About ACLI: The American Council of Life Insurers (ACLI) is a Washington, D.C.-based trade association whose 373 member companies account for 93 percent of the life insurance industry’s total assets in the United States, 91 percent of life insurance premiums and 95 percent of annuity considerations. In addition to life insurance and annuities, ACLI member companies offer pensions, including 401(k)s, long-term care insurance, disability income insurance and other retirement and financial protection products, as well as reinsurance. ACLI's public website can be accessed at www.acli.com.
About NAIFA: Founded in 1890 as the National Association of Life Underwriters, the National Association of Insurance and Financial Advisors comprises 800 state and local associations representing the business interests of 225,000 members and their employees nationwide. Members focus their practices on one or more of the following: life insurance and annuities, health insurance and employee benefits, multiline, and financial advising and investments. NAIFA's mission is to advocate for a positive legislative and regulatory environment, enhance business and professional skills, and promote the ethical conduct of its members. NAIFA's website can be accessed at www.naifa.org.
Optional visitor-only content.