Dear Letters Editor:
For nearly 100 years, millions of American families have realized the value life insurance provides in protecting the financial security of their homes and their businesses, yet proposals to limit its value may surface as the federal government seeks ways to pay for its increased spending (“Mathematically Possible,” Aug. 14).
Today, life insurance is a mainstay of the U.S. economy, accounting for 20 percent of long-term savings. Since 1913, members of the National Association of Insurance and Financial Advisors – who primarily serve middle-market Americans – have helped secure bipartisan support for tax policies by helping Congress understand that tax rules are not for the benefit of an industry, but for the fundamental financial security of all Americans. Now is not the time to make it harder or more expensive for families to build their own financial safety net. Public policy should continue to encourage families to plan for and protect their financial and retirement security.
With mounting national debt, Congress is once again preparing for comprehensive tax reform in 2013. The members of the National Association of Insurance and Financial Advisors will work unwaveringly to ensure that American consumers - and our clients - will not be penalized for taking steps to secure their future.
Robert Miller, NAIFA President