American Council of Life Insurers (ACLI)

What Is the American Council of Life Insurers (ACLI)?

The American Council of Life Insurers (ACLI) is an association of American life insurance suppliers. The ACLI is situated in Washington D.C. however, its members span the whole nation. The organization manages legislation on all levels of government that relates to the treatment of life insurance. ACLI likewise advances the life insurance industry to the public through different means of advertising and communication. It is viewed as a self-regulatory organization.

Figuring out the American Council of Life Insurers (ACLI)

The American Council of Life Insurers (ACLI) acts as a center point of data relating to life insurance that arrives at the public. Both stock and mutual life transporters are members of the council as it has a full comprehension of the industry and the variety of accessible products.

The ACLI supports 280 member companies situated across the country that give "products and services that advance shoppers' financial and retirement security." ACLI members address 95% of industry assets and cover 90 million families. Products offered by the member companies incorporate life insurance, annuities, long-term care insurance, disability income insurance, reinsurance, dental and vision, retirement plans, and other supplemental products.

The ACLI gives an enormous amount of data, including online courses, data, and different advocacy measures and programs, as well as occasions and withdraws for members.

Obligations of the American Council of Life Insurers (ACLI)

The American Council of Life Insurers (ACLI) centers its tasks around three primary areas. These are getting ready Americans for retirement, protecting Americans from financial vulnerabilities, and reinforcing the economy.

Concerning assisting Americans with getting ready for retirement, ACLI members give annuities, manager based retirement plans, and other retirement plans. As indicated by the ACLI, life insurers are the leading suppliers of retirement services, accounting for 15% of all defined contribution plan assets and 13% of individual retirement account (IRA) assets.

In its objective of protecting Americans from financial vulnerabilities, ACLI members give life insurance, disability income insurance, and long-term care insurance. As per the ACLI, life insurance companies paid out $1.9 billion consistently in 2017 through all of the life insurance related products.

As accounted by the ACLI, 2.4 million positions in the U.S. are made by life insurers, which incorporates direct employees of life insurance companies, individuals that sell life insurance products, and occupations that are not life insurance related however support the industry. As per the ACLI, life insurers are the biggest investors in domestic corporate bonds and 90% of industry assets are invested in the U.S. economy. It is consequently that the life insurance industry is critical to the strength of the U.S. economy, which the ACLI looks to support and develop.

American Council of Life Insurers (ACLI) Leadership

The American Council of Life Insurers named Susan Neely as president and CEO of the ACLI in May 2018. She was formerly president and CEO of the American Beverage Association (ABA).

As president and CEO of ABA, Neely filled in as the policy and public education advocate for the non-cocktail industry for a considerable length of time. Prior to that job, she filled in as assistant secretary for public affairs for the U.S. Department of Homeland Security from 2003-2005 and filled in as a special assistant to President George W. Hedge between 2001-2002, where she was one of the architects of the U.S. Department of Homeland Security.

Neely has likewise served in several senior government and public affairs jobs during her career, including at the Association of American Medical Colleges and the Health Insurance Association of America, where she made and directed an assortment of national, grant winning advocacy programs and drives.

Features

• The American Council of Life Insurers (ACLI) is an association of American life insurance companies that supports its members in helping individuals with financial stability and retirement planning.
• The ACLI comprises of 280 member companies covering 90 million families in the U.S., addressing 95% of industry assets.
• The ACLI concentrates on covering three primary areas, which are assisting Americans with getting ready for retirement, protecting Americans from financial vulnerabilities, and reinforcing the economy.
• Products and services offered by these companies incorporate life insurance, retirement planning, disability income insurance, and annuities.