National Association of Insurance and Financial Advisors

NAIFA-Supported Measure to Waive Initial Licensing Fees for Veterans Passes New Jersey Senate

Legislative win shows the strength of NAIFA's state-level advocacy.
NAIFA-New Jersey has been a driving force behind legislation in the state that would exempt U.S. military veterans from initial insurance licensing fees. The state Senate passed the bill in a 38-0 vote today. The Assembly passed the bill unanimously earlier this session, and it will now go to the governor’s desk.
“This is great legislation that encourages veterans to pursue careers as insurance professionals in New Jersey,” said NAIFA-New Jersey President Corrado Gugliotta. “It is good news for the insurance industry, and great news for consumers who will benefit from the products and services these agents and advisors will provide. Our state government relations team put in some hard work with the legislature to make it happen.”
“Exempting veterans from these fees can be the jump start they need to launch a promising career,” Senator Anthony M. Bucco (R-Morris) said in a press release.
NAIFA also actively supports a Veterans Administration program that reimburses veterans up to $2,000 in state insurance licensing exam costs. At least 35 states currently participate in the program, and others are considering participation.
“We’ve found that veterans very often possess skills that help them succeed as insurance and financial professions and serve the best interests of their clients,” said NAIFA CEO Kevin Mayeux. “Many NAIFA members served our country with distinction before embarking on their insurance and financial services careers. NAIFA is dedicated to promoting the success of agents and advisors through our advocacy work, and we are proud to be the only association working for insurance and financial professionals in every state legislature and insurance department across the country.”
  • Posted January 9, 2020 IN

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