b'In 2018, the lifeput almost allow more thaninsurance death2394,000benefits paid by million life insurers were enough to: childrensurviving spouses through four years ofto completely pay-offcollege ($1.96 million) their mortgages(Median Mortgage Debt: $202,284)Stabilizing Tax Policy to Protect Families We are highly regulatedA stable, predictable tax code allows us to do whatState regulators mandate the reserves that must be we do bestmake our financial protection productsmaintained by insurance companies to ensure they can more affordable to millions of individuals and familiesmeet their future obligations to policyholders. Minimizing for their financial safety net. taxes on reserves ensures consumers have access to affordable guaranteed products.Our MessageFederal Tax Proposals Pose Barriers to Guarantees for Consumersto Washington A federal tax system that doesnt properly account for state-regulated reserves that prefund future benefits to consumers ends up hurting consumers with higher prices and less access to guarantees.As the IRS and Treasury Department issue guidance on the Tax Cuts and Jobs Act of 2017 (TCJA), were working to ensure the regulations keep within the scope of the new law and do not hamper insurers ability to help as many families as possible be confident about their financial futures. We are sending a clear message on Capitol Hill and are working with member companies to develop recommendations for changes to the tax law.Were launching a robust and strategic educational campaign to educate policymakers on what we know and understandthat our long-term guarantees make us unique and ensure consumer protection now and in the future.18 ACLI2019 ANNUAL REVIEW'