In an extensive, broad-ranging interview with InsuranceNewsNet, NAIFA President Robert Miller speaks on such diverse topics as the estate tax, taxation and life insurance, fiduciary proposals for registered reps, the influence of NAIFA, the political landscape in Washington, and the important role NAIFA members play helping Main Street Americans.
"We are a business that develops relationships, and it happens again and again in big cities and small towns across this country.
"We sit down with families and small businesses and discuss issues with them that nobody else wants to discuss. Those issues are if anything happens to a significant partner in this business – let’s say it’s the partner who holds the key to getting bank loans – how are you going to stay in business or if anything happens to the breadwinner in a household, how are you going to be able to educate your children, stay in your house or continue on in a life that you expect to have?
"We bring in those dollars when the going is its toughest. We can’t replace the love of a lost family member, and we can’t replace a significant partner in a small closely held business, but what we can do is bring in money that buys their future.
"Once legislators understand the significance of what we do and they realize that insurance products represent 20 percent of all savings in this country, Congress is set up to make intelligent choices and to understand what potential unintended consequences would be if the rules were changed and families had to buy twice as much insurance in order to get the same kind of protection because they’re taxing the death benefit."
- NAIFA President Robert Miller in InsuranceNewsNet