National Association of Insurance and Financial Advisors

NAIFA Blog

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...

America’s Veterans Have Much to Offer Our Industry

November 11, 2019

By Kevin Mayeux, NAIFA CEO Leadership, confidence, adaptability, and integrity are traits possessed by veterans of U.S. military service and also skills that help insurance and financial professionals succeed in their careers. So, no one should be surprised that veterans very often make great agents and advisors.   Steven Saladino, LUTCF , of Principal Financial Group of Tampa-St. Petersburg, Fla., is just one example. Steve was a sergeant in the United States Army and a paratrooper wi...

Financial Professionals from Every State Urge Congress to Pass the Secure Act

November 7, 2019

NAIFA members represent the interests of their clients – small businesses and American families – in letter delivered to congressional leaders.     Fifty-one insurance and financial services professionals, one representing each state and the District of Columbia, signed a letter urging Congress to pass the SECURE Act , bipartisan legislation that would make it easier for hundreds of thousands of Americans to save for retirement.   Each of the signers is a member of the National...