Economic Empowerment & Racial Equity Initiative

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America's life insurers have long been committed to providing access to financial security for all Americans, regardless of where or how they work, their life stage, or the economic status of their household.

The death of George Floyd and other visible injustices have caused us to triple down on our actions. We are committed to using the power of collective action to drive progress.

That's why America’s life insurers are engaging and offering concrete steps to achieve greater economic empowerment of financially underserved communities across the country. Through company action, smart partnerships, and legislative and regulatory initiatives, we will help more Americans access opportunities that lead to financial protection and security.

 

Principles of Economic Empowerment & Racial Equity

Download the printer-friendly one-pager (PDF).

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Expanding Access to Affordable Financial Security Protection in Underserved Communities

ACLI supports a regulatory framework that eliminates any potential proxy discrimination in the delivery of life insurance to the consumer.

ACLI supports removing any unnecessary barriers that may impede the ability of people of color to become licensed by or employed with the insurance industry.

ACLI supports innovation and technologies that are part of the solution by driving expanded consumer access and consumer affordability in the middle market and underserved communities.

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Advancing Diversity and Inclusion Within Companies and on Corporate Boards

ACLI supports the CEO Action on Diversity and Inclusion pledge which commits signatories to make diversity and inclusion a priority within the company, and to create and share strategic inclusion and diversity plans with their boards of directors.

ACLI supports disclosure of appropriate data in corporate regulatory statements regarding the diversity of underrepresented groups on the corporation’s board of directors and among its executive officers without requiring standards or targets.

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Achieving Economic Empowerment Through Financial Education

Life insurers are committed to supporting financial education throughout America. One-third of financial inequality in the U.S. could be accounted for by the differences in financial literacy.

We’re seeking more impactful financial education partnerships, including with the American College of Financial Services. Through these partnerships, we can help more Americans achieve financial security.

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Expanding Investments in Underserved Communities

Consistent with stringent state investment requirements, ACLI supports voluntary initiatives which help facilitate institutionally sound investments that bring economic opportunity to underserved

ACLI supports state and federal legislation establishing tax incentives and other measures that promote investments in underserved communities.


Susan Neely Introduces the Initiative



Resources


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IMPACT Article: Financial Security for Underserved Communities

Life insurers’ most critical mission is helping people take care of those they love. Our mission has never been more important.

READ THE ARTICLE READ ALL EERE INITIATIVE ARTICLES

News Article

INSURANCE NEWS NET INTERVIEW WITH SUSAN NEELY ON EERE INITIATIVE


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CEO Pledge

100% OF OUR BOARD OF DIRECTORS HAS COMMITTED TO THE CEO PLEDGE


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Conference Speech

READ SUSAN NEELY'S SPEECH FROM ACLI ANNUAL CONFERENCE, 10/12/20


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NAIC Remarks

SUSAN NEELY REMARKS TO NAIC SPECIAL COMMITTEE ON RACE AND INSURANCE


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Related Content

ACLI advocacy hub for Diversity & Inclusion which includes this infographic.
The life insurance community's June 2020 response to racial injustice