National Association of Insurance and Financial Advisors

NAIFA Blog

NAIFA Urges Governor Cuomo to Approve Important Continuing Education Credit Legislation

November 27, 2019

NAIFA-New York State and NAIFA National submitted letters to New York Governor Andrew Cuomo to urge the Governor to sign into law S.4365/ A.5922 which would allow financial advisors to receive up to three hours of continuing education credit (CE) for their active membership and participation in a professional agent association upon review and approval by the Superintendent of Financial Services.  Many NAIFA-New York members have sent similar letters of support.   NAIFA has argued in supp...

NAIFA Supports Patients’ Timely Right to Access Medical Records

November 26, 2019

Earlier this year, the Department of Health and Human Services released a request for information seeking public input on how the Health Insurance Portability and Accountability Act Privacy Rule could be modified to further promote “coordinated, value-based health care,” while preserving the privacy and security of an individual’s protected health information. Among the issues HHS is considering is how to improve the response time by which health providers respond to a patient’s medical recor...

NAIFA Supports Toomey Proposal on Retirement Accounts and Long-Term Care

November 21, 2019

Sen. Pat Toomey (R – PA) has released a policy proposal to increase the affordability of long-term care insurance, which NAIFA supports. The draft legislation provides owners of retirement accounts greater flexibility when using those funds to purchase long-term care insurance (LTCI).   The proposal would : Allow individuals to use funds from 401(k), IRA, and some other retirement accounts to buy LTCI without incurring 10% early withdrawal penalties Exclude retirement account withd...

NAIFA and ACLI: LTCI Can Help Fill Coverage Gap for Alzheimer's Costs

November 20, 2019

Alzheimer’s disease is one driving force behind escalating long-term care costs that are creating financial burdens for an aging U.S. population. In fact, Alzheimer’s is the leading cause of long-term care insurance (LTCI) claims, but LTCI now covers only 4% of nursing home expenditures for seniors. “There is clearly a large gap in the market, which long-term care insurance can fill,” write NAIFA CEO Kevin Mayeux and ACLI President and CEO Susan Neely in a statement for the record to...

NAIC and FINRA to Share Certain Information on Financial Advisors

November 12, 2019

The National Association of Insurance Commissioners (NAIC) and the Financial Industry Regulatory Authority (FINRA) will soon begin sharing data – including names, dates of birth, licensing statuses, and other information – on registered representatives and insurance producers. NAIC staff indicated during a NAIC Producer Licensing (D) Task Force conference call on October 25, 2019, that the NAIC and FINRA are finalizing a Memorandum of Understanding outlining the information-sharing proce...