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Best Interest / Standard of Care
We believe public policy should set up all Americans to live the life they choose through retirement. Financial protections shouldn’t limit financial options. A Best Interest standard preserves choices for consumers in how they save for retirement regardless of where and how they work, their life stage, and the economic status of their household.
Now more than ever, policymakers need to focus on ways to help all Americans protect their family’s financial future.
Featured Resources
Fiduciary-Only Harms Ordinary People
Data shows that annuities help and fiduciary-only harms ordinary people.
The Importance of Access to Financial Guidance
Research shows that moderate-income retirement savers are concerned that a fiduciary-only regulation would keep them from the professional financial guidance they want and need.
ACLI White Paper: Fatal Flaws of the Fiduciary Regulation
How fiduciary-only regulation would cut access to financial guidance and widen the racial wealth gap.
Financial Protections Shouldn't Limit Financial Options
New regulations could threaten efforts to promote equity and close the wealth gap. Learn more at consumerprotection.life.
A Better Way Forward: The Best Interest Standard
Protecting consumers who seek advice from financial advisers is necessary to ensure Americans have the confidence to seek out help with financial guidance and planning.
More Help for the Middle Class
Middle-class American families have been getting squeezed for too long. Working together with policymakers, the life insurance industry is committed to the middle class and helping all Americans protect their family’s financial future.
Protecting Consumers & Giving Everyone a Chance to Get Ahead
A nationwide movement is underway to provide consumers with the protections they deserve while preserving access to the products and guidance they need to plan for retirement.
What is an Annuity?
Annuities provide protected lifetime income, ensuring peace of mind and financial security in retirement.
Department of Labor Should Protect Retirement Savers’ Access, Choices
The last thing policymakers should do now is to create more anxiety for those needing some retirement certainty. Unfortunately, that’s exactly what the Department of Labor has done with its first offering.
Other Resources
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Testimony
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Blog
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SPREAD THE WORD ON A BEST INTEREST STANDARD
There is not a one-size-fits-all approach to #retirement planning. Policy should reflect people’s unique situation & preferences. Consumers NEED choices, not limits, when it comes to saving for retirement. #bestinterest Learn more: http://ow.ly/DwI050C132O
More than 20 states have adopted rules or laws that protect consumers without restricting middle- and working-class families’ access to financial guidance. Learn about the #BestInterest standard from ACLI CEO @Susankneely: https://impact.acli.com/dont-look-back/
Life insurance companies believe everyone should have the right to learn about & choose from the many different financial protection options available in the marketplace. Listen to Joan’s story about the importance of access to her financial professional: https://vimeo.com/681365784
Together, the SEC’s #RegBI and the NAIC’s model #bestinterest regulation will ensure consumers have uniform state and federal protections regardless of where they live in the United States.
Learn more: http://ow.ly/DwI050C132O
Financial protections shouldn’t limit financial options. New regulations would harm financially vulnerable families who are already behind in saving for #retirement. Learn more: https://consumerprotection.life/