Life insurers’ most critical mission is helping people take care of those they love.
The importance of our mission was magnified during 2020, with the insidious COVID-19 pandemic, the resulting severe economic downturn and a holistic reassessment of racial inequality in America.
Acknowledging this pivotal moment in history, life insurers have re-intensified our longstanding commitment to support individuals, families and communities nationwide.
Purposeful action and effective leadership to meet societal needs in the face of tremendous challenges this year came in many forms, and these top 10 IMPACT pieces from 2020 spotlight a few:
10) ACLI helped Colorado lawmakers recognize that an unwise tax proposal would have made it more expensive for residents to save for retirement.
9) We shared how new parents like soccer superstar Alex Morgan can get affordable life insurance, thanks to underwriting.
8) We guided Massachusetts officials away from a fiduciary-only proposal that would have harmed lower- and middle-income retirement savers.
7) ACLI got behind and is working for the Securing a Strong Retirement Act of 2020, a bill in the U.S. Congress that would help steer more retirement savers on the path to financial security.
6) We recognized the Securities and Exchange Commission’s Regulation Best Interest, which requires that financial professionals act in the consumer’s best interest.
5) The life insurance community denounced racial injustice and committed to sustained partnership in the community to drive solutions to address systemic inequality.
4) ACLI underscored how expectant moms who have income protection coverage from life insurers do not have to worry about not getting income when they take time off work, even during COVID-19.
3) We showcased how life insurers are #MeetingTheMoment for consumers and communities during the COVID-19 pandemic, by supporting government officials and local leaders, listening to needs, organizing action, and showing compassion.
2) To advance solutions that will address systemic inequality, ACLI launched its Economic Empowerment and Racial Equity Initiative.
1) Looking forward to 2021, life insurers are committed to working with our lawmakers and in our communities to make it a year of positive change – for all Americans.
David Nielsen is Senior Director, Strategic Content/IMPACT at the American Council of Life Insurers (ACLI). His responsibilities include IMPACT and other ACLI publications, notably News Now & News Now International. A former bank examiner, business analyst and journalist, he joined ACLI in 2013.
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