Washington Examiner Editorial Distracts From How Life Insurers Meet Critical Consumer Needs

Aug 20, 2019

America’s life insurers serve 90 million American families, helping them build a financial safety net that protects them through all stages of life. Helping people take care of the things that matter most is our most critical mission.

But you wouldn’t know that from the Washington Examiner’s editorial this week about The Business Roundtable’s (BRT) new mission statement. The BRT recently called on corporate leaders to consider all stakeholders including society at large when making decisions. Several members of the American Council of Life Insurers (ACLI) signed on to the BRT’s statement.

In its editorial, the Examiner insinuated that our industry’s lobbying agenda regarding the estate tax is inconsistent with the BRT mission statement. “Whenever companies receive special favors from the government, it comes at the expense of the broader economy,” the Examiner wrote.

The Examiner misstated our industry’s role regarding the issue. First, ACLI does not do any lobbying on the estate tax. Second, debates in Washington D.C. over the estate tax are as enduring as the Cherry Blossoms—they will continue every year.

But more to the point, the Examiner’s suggestion that our industry cares more about special favors than the public good is offensive. America’s life insurers are committed to empowering  all Americans, regardless of where and how they work, economic status, race, gender, or stage of life, with the information and tools they need to succeed in their financial futures. 

Our population is rapidly growing and aging. Economies and priorities are shifting. We need a renewed focus on achieving financial security for individuals and families across America.

For more than 150 years, American families have depended on life insurers to provide financial security products that protect people throughout their lives. And as society faces new challenges in the 21st century, life insurers will continue to find solutions that meet consumers’ needs.

The cynics will try to divide us and distract us from our mission. They’ll never succeed.

Susan K. Neely

Susan K. Neely is the President and CEO of the American Council of Life Insurers (ACLI), the nation’s leading trade association determined to help families live better lives by achieving financial security and certainty. As president and CEO, Neely drives public policy and advocacy on behalf of ACLI’s member companies that represent 94 percent of industry assets and serve 90 million families.