The economic slowdown prompted by the COVID-19 pandemic has affected millions of Americans. It has also intensified the importance of finding solutions to the retirement savings gap faced by so many Americans. One-third reaching retirement age have $25,000 or less saved. Last year, the U.S. Congress took an important step forward by passing the SECURE … Continue reading "COVID-19 Magnifies Retirement Savings Gap, Emphasizes Need to Act"
The COVID-19 pandemic and the resulting economic slowdown have been devastating for America. More than 6.3 million Americans have been diagnosed with COVID-19 and more than 190,000 have died. At the same time, 50 million Americans have filed for unemployment this year and nearly 47% have been unemployed for more than 15 weeks. AFLAC’s 10th annual Workforces Report reinforces … Continue reading "Easing the Burden of Uncovered Medical Expenses During COVID-19"
Last month in New York City, I saw a wonderful new sculpture of Sojourner Truth, Susan B. Anthony and Elizabeth Cady Stanton honoring the 100th anniversary of women’s suffrage. New York Life was a major donor for the statue. That’s fitting because Anthony used the cash value of her New York Life insurance policy … Continue reading "Whenever America Needs Us, Life Insurers Are There"
Today marks the official kickoff for Life Insurance Awareness Month. But as our colleagues at Life Happens wisely note, the need to increase awareness about life insurance began long before September 1 and must extend well beyond September 30. Conversations about life insurance are just too important to confine to one month. Now more than … Continue reading "The Time For Life Insurance Awareness Is Now"
As America faces a pivotal moment to address systemic racism, the life insurance industry stands committed and ready to lead. Last week, I had the opportunity to speak with President and CEO George Nichols III of the American College of Financial Services. Nichols, a Kentucky native, became his state’s first Black American insurance commissioner in … Continue reading "Building Financial Security and Upward Mobility"
During the COVID-19 pandemic, health and financial security concerns have been front and center. And America’s life insurance companies have stepped up. From the earliest days of the crisis, life insurers have been providing invaluable support, paying out $2.1 billion every day, amplifying the $2.7 billion a day paid by Social Security. To keep the … Continue reading "Life Insurers Invest for America’s Future"
Every day, 10,000 Americans turn 65 years old. Those celebrants undoubtedly have as many different ideas about their retirement planning as they have birthday candles. Retirement planning needs vary. Fortunately, regulators and lawmakers are recognizing that. Case in point: the U.S. Department of Labor (DOL) has moved in the right direction toward a harmonized approach … Continue reading "Protection and Choices for Retirement Savers"