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March 6, 2013
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News covering the insurance and financial advising industry

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  • NAIFA prepares to defend life insurance's tax treatment
    The tax-advantaged status of life insurance products faces a serious challenge as the demand for a tax overhaul rises, industry experts say. NAIFA aims to show Congress how life insurance can generate savings and protection for middle-market Americans. People who lack that protection could "end up running through limited savings that they have and relying on government programs," NAIFA's Diane Boyle says. "We know now that the government programs are strained, so we want people that are able to take responsibility for themselves to take that planning step.” InsuranceNewsNet (3/1) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Study: Young Americans cite $1M as ideal amount of life insurance
    Americans in their 20s and 30s say they'd like $1 million in life insurance to "make all their dependents' troubles go away," but they carry an average face amount of $390,000 in coverage, according to a study by The Guardian Life Insurance and LearnVest Planning Service. The $610,000 discrepancy could be a result of the perception that workplace coverage is adequate, according to the report, which found those in the 21-to-30 age group to be the least informed about life insurance. National Underwriter Life & Health (3/5) LinkedInFacebookTwitterEmail this Story
  • Sponsors should rethink retirement-plan approach, expert says
    Inertia and procrastination are among the top five problematic investor behaviors that will never change, and retirement-plan sponsors should rethink plan structures to work around them, says Greg Kasten, founder of Unified Trust. For example, Kasten says, plan sponsors should give participants a savings goal at enrollment meetings if they don't have one. Putting participants in a target-date fund is not enough, he says. AdvisorOne (3/4) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • House Republicans weigh changes to Medicare plan
    House GOP leaders are considering raising the age at which people would be protected from changes to the Medicare system from 55 to 56, under a plan floated by Rep. Paul Ryan, the Budget Committee chairman. The proposal angered many centrist Republicans, who had made election-season commitments to their constituents tied to the notion that those 55 and older would be guaranteed continued access to traditional Medicare. A person becomes eligible for Medicare at age 65. Bloomberg Businessweek (3/5), The Hill (3/5), Politico (Washington, D.C.) (3/4) LinkedInFacebookTwitterEmail this Story

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  NAIFA News 
  • GOP lawmakers question Medicare Advantage cuts
    In response to a Centers for Medicare & Medicaid Services proposal to cut Medicare Advantage rates by 2.3% next year, Sen. Orrin Hatch and Reps. Fred Upton and Dave Camp wrote to CMS with concerns about the agency's proposed cuts and changes to Medicare Advantage plans. A new report by Oliver Wyman examines the cumulative impact of CMS' new proposed Medicare Advantage payment changes plus the new health insurance tax. Read more on the NAIFA Blog. LinkedInFacebookTwitterEmail this Story
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The world is much more interesting than any one discipline."
--Edward Tufte,
American statistician and professor

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