We, the undersigned, write to ask the Members of the U.S. Senate and House of Representatives to protect the financial and retirement security of the 75 million American families who rely on life insurers’ products for peace of mind, long-term savings, and a guarantee of lifetime income.
These families have worked hard and played by the rules, wisely planning for a secure financial future and retirement. In fact, savings in permanent life insurance and annuities represent more than 20 percent of long-term savings in this country—that’s 1 in every 5 dollars saved. These savings are an important safety net for working and retired families.
Policy-makers should not make it harder and more expensive to obtain financial and retirement security. Public policy should continue to encourage Americans to save more, plan responsibly, and protect their financial and retirement security– not change the rules and take away incentives.