The tax treatment of life insurance and annuities has encouraged generations of Americans to protect their financial futures. In fact, 75 million American families count on life insurers' products for peace of mind, long-term savings, retirement planning, and a guarantee of lifetime income when it's time to retire. As Congress and state legislatures consider approaches to tax reform, policy-makers must carefully consider the negative effects on families if changes to public policy make it more expensive to obtain financial and retirement security.
ACLI has partnered with the American Fraternal Alliance, Association of Advanced Life Underwriting, GAMA International, Insured Retirement Institute, National African-American Insurance Association, National Association of Fixed Annuities, National Association of Independent Life Brokerage Agencies, National Association of Insurance and Financial Advisors, and Women in Insurance & Financial Services to educate policy-makers about the critical role life insurers’ products play in the lives of American families, businesses, and communities. Visit
www.securefamily.org and learn about how life insurers' positively impact your community and the U.S. economy.
Our nation benefits when families and businesses address their own financial security needs. Whether it is life insurance, a retirement annuity, or contributions to a workplace retirement plan, public policy should encourage Americans to prepare for the future. Now is not the time to make it more expensive for families and businesses to plan for the long-term.
In light of the nation’s need for long-term savings and financial security, tax proposals that target life insurers—and the businesses and families that rely on their products—are the wrong course for policy-makers to take.
The Baby Boomer Generation has reached retirement age. Over the next 13 years, 10,000 people will turn 65 every day. Social Security alone is not enough to provide an adequate retirement. Ever increasing numbers of retirees will turn to lifetime income products such as annuities to assure a steady income stream after their working days are over.
Statement to House Ways and Means Committee
ACLI Statement for the Record - House Ways and Means Hearing - May 2017
Financial Security and Life Insurance Caucus
Co-chaired by Reps. Pat Tiberi (R-OH) and Richard Neal (D-MA) and Sens. Chris Murphy (D-CT) and Johnny Isakson (R-GA), the bipartisan, bicameral caucus will work to educate lawmakers about the ongoing need for public policy that encourages Americans to save more, plan ahead, and protect their financial and retirement security.
Caucus Promotion Flier