WASHINGTON – American Council of Life Insurers (ACLI) President and CEO Susan Neely announced today the launch of a new initiative to advance economic empowerment and racial equity.
“Life insurers believe that all Americans should have access to tools and resources that will help them thrive and succeed,” Neely said. “ACLI and its members are asserting their commitment to this goal and presenting concrete, outcome-changing steps for economic empowerment in financially underserved communities throughout the nation.”
Presenting the initiative at the ACLI Annual Conference 2020, Neely said the kick-off of this work is marked by ACLI’s Board of Directors being among the first association boards to have all its members sign the Pledge for CEO Action for Diversity and Inclusion. Life insurance industry leaders were among the founders and original signers of the Pledge, which aims to expand diversity in corporate leadership.
ACLI’s Economic Empowerment and Racial Equity Initiative focuses on four key areas:
Neely said life insurers are uniquely positioned to lead this effort and achieve outcomes because of their proven role in establishing financial protection and security for middle-income individuals and families.
“These are actions we can and must take to address racial and economic inequities that have plagued our country for too long,” Neely said. “Through company action, smart partnerships, legislative and regulatory initiatives, we will help all Americans build habits and knowledge about money that lead to financial security.”
The American Council of Life Insurers (ACLI) is the leading trade association driving public policy and advocacy on behalf of the life insurance industry. 90 million American families rely on the life insurance industry for financial protection and retirement security. ACLI’s member companies are dedicated to protecting consumers’ financial wellbeing through life insurance, annuities, retirement plans, long-term care insurance, disability income insurance, reinsurance, and dental, vision and other supplemental benefits. ACLI’s 280 member companies represent 94 percent of industry assets in the United States.
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