Top 10 for 2021

Dec 22, 2021

The life insurance industry’s mission is to help all Americans – no matter their age, job, gender or race – take care of the things that matter most. As we approach the new year, our mission has never been more important. Our nation continues to work through the wrenching personal and economic impacts of the COVID-19 pandemic. At the same time, America continues to try and rectify longstanding societal and financial inequities, especially in underserved communities.

On all fronts, life insurers have been Meeting the Moment and leading efforts toward recovery and rebirth. These top 10 IMPACT articles from 2021 highlight some of the industry’s actions:

10) ACLI began the year with a commitment by President and CEO Susan K. Neely that the industry would redouble its energies to make progress on our nation’s most important challenges.

9) Recognizing that too few Americans are covered by life insurance, ACLI showcased the Help Protect Our Families initiative that will assist more individuals, households, and businesses in securing the financial protection they need.

8) ACLI recognized a new law in Montana that will be more fair to women by allowing insurers to consider an applicant’s sex when establishing insurance premium rates. This will result in women paying lower premiums since they have longer life expectancies.

7) ACLI illustrated how corporations can make a profound impact on essential efforts to achieve racial and gender economic equity and close wealth gaps by implementing strategic social and governance action plans.

6) One year after signing the CEO Action Pledge, ACLI emphasized how it has accelerated its commitment to serve all Americans through its Economic Empowerment and Racial Equity Initiative.

5) ACLI explained why it would be counterproductive to change the model guidance for life insurance disclosures and illustrations, which have effectively informed consumers during a resurgence in life insurance sales.

4) Too many women through no fault of their own are hurtling toward a retirement cliff. ACLI described how business and government should come together to help women prepare for a secure retirement.

3) ACLI reiterated its support for expanding paid family and medical leave to all workers building on the private employer-based system that currently benefits nearly 62 million Americans. 

2) As part of ACLI’s series highlighting how life insurers’ investments have strengthened communities across the nation, Boston Mutual CEO Paul A. Quaranto, Jr. highlighted our industry’s impact in Massachusetts.

1) ACLI underscored the momentum in the states to adopt best interest rules that will protect consumers while retaining their access to and information about annuities.

David Nielsen

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.