House Tax Bill Could Negatively Impact Long-Term Care

November 20, 2017

The House Tax Bill, H.R.1, which repeals the deduction for medical expenses, could have the unintended result of discouraging long-term care and increasing the cost of premiums. Under current tax law medical expenses that exceed 10 percent of their adjusted gross income (AGI) can be deducted. While the provision would affect many people, the majority are senior citizens who would no longer be able to deduct home care costs, assisted living, or long-term care premiums.    Currently, qualif...

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Tax Reform Illustrates the Importance of NAIFA Membership

November 15, 2017

“Laws are like sausages. It’s better not to see them being made.”                         - Attributed to Otto Von Bismark ( though he probably didn’t say it )   Dear friends, Times like these are a big reason you are a NAIFA member.* Congress and the administration are deep in the sausage-making process of tax-reform . I don’t need to tell you how important tax laws are to the success of your family, your business, your clients, and our country. Though much is happening behind...

NAIFA Thanks America's Veterans

November 10, 2017

Dear NAIFA Members,   On behalf of NAIFA I would like to thank all of our nation’s veterans. Your service has guaranteed our freedom and provided your fellow Americans with stability for the present and hope for the future. In particular, I would like to send our heartfelt gratitude to NAIFA members who have served our country in the armed forces.   It’s no surprise to me when I see references to military service on the resumes of many insurance and financial advisors. NAIFA members a...

Texas law helps financial advisors combat elder financial abuse

November 6, 2017

In a column published in the Dallas Morning News, NAIFA-Texas President Joseph Orr II says financial advisors are often the first to note the warning signs that a senior citizen could be victim of a financial scam. For one, life savings begin to drain away. “With people age 50 or older controlling more than 70 percent of the nation’s wealth, today’s scammers are more sophisticated than ever before,” writes Orr. “Until now, there was little (financial professionals) could do to act in T...

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DOL Delays Fiduciary Rule

November 2, 2017

Statement from NAIFA CEO Kevin Mayeux, CAE “The Department of Labor today filed its rule with the Office of Management and Budget to delay the applicability date of the fiduciary rule by 18 months, which is a step in the right direction. “NAIFA has worked diligently throughout this process to educate the administration and members of Congress about the rule’s potential unintended consequences that could deprive middle-market savers of access to professional, individualized advice. We ...