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News & Press: CalAdvisor Newsletter

November President's Message

Friday, November 4, 2016   (0 Comments)
Posted by: Shane Westhoelter, AEP, CLU, LUTCF
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This past week I had the honor of attending the ACLHIC (Association of California Life & Health Insurance Companies) meeting in Pebble Beach.  This association is the legislative arm for the Life and Health Insurance Companies in the State of California.  Each year, NAIFA-California meets with ACLHIC for a strategic board meeting, where we invite them to attend the NAIFA State meeting and they invite us to attend their meeting. 

It was an amazing opportunity to meet with the legislative leaders from the insurance companies and California State Legislative Leaders.  Attending the conference allowed NAIFA-California Lobbyist Shari McHugh and myself to spend one-on-one time with key contacts like Governor Dirk Kempthorne, Majority Leader William Monning, Speaker Emeritus Toni Atkins, Senator Richard Roth, as well as several Assembly members, including Susan Bonilla, Jim Cooper, Rob Bonta, Freddie Rodriguez, Ken Cooley, Matt Dababneh, Jimmy Gomez, Ed Henandez, Chad Mayers and several more. We also spent time with Chief Deputy Commissioner of the Department of Insurance Joel Laucher, and Deputy Commissioner of Health Policy Janice Rocco.  The ability to hear the views of each of these leaders, and to openly discuss the direction of our industry, is priceless.

A few take away items from the meeting include: Governor Dirk Kempthorne sharing from a recent meeting he attended where discussions of possible riders in the future on life insurance policies might include provisions for such things like cancer treatment, stem cell treatment or other potential life cures.  The thought of viewing Life Insurance as Life Assurance is forward thinking. 

Updated statistics like the total life insurance in force in California as of 2015 was $3.6 Trillion, total insurance premiums paid in California in 2015 were $66.1 Billion, benefits paid out by Life and Annuity contracts (including dividends) was $18.2 Billion, for Property and Casualty/Commercial insurance California insureds paid over $69.9 Billion in premiums and claims paid out were over $39.6 Billion ($1.2 B in Catastrophic loss, and had 8,745 wildfires). Insurance companies invested back over $3.7 Trillion into investments, stocks, bonds, Muni’s etc. in California and employ over 297,000 with a payroll over $22 Billion. Not to mention the California General fund received over $2.3 billion in insurance tax.  All of the slides and data are available if you want them, just let me know and I will be happy to send them to you.  Request them from by emailing me at Shane@GFAinvestments.com or from our State office.  There are many slides and facts you may find of value for your local meetings.

Local Leaders: We are now five months into our NAIFA year.  Where do you stand as a local?  Are you on track with your goals and strategic plan?  How are you tracking with the AAA Award?  This is the month to do a check and balance to ensure you have your goals on track.

This month, think about what you can do at a local level not only for your members, but for the non-members and the general public.  Think of ways to reach out to our clients, through Life Happens Educational Night (using Life Happens Videos and Testimonies), Social Security Educational Workshops (which we can provide at no cost to you), or other means to engage your members to bring clients to a workshop, helping make them the expert and NAIFA the third party provider of great information. Let’s grow membership by focusing on value-add opportunities at the local level.

Lastly, I challenge each of you as members to dig a little deeper into your pockets and make a PAC contribution by year end.  I challenge each member to give a minimum of $50 to the PAC.  If each of our 3,000 members simply gave at least $50 we would raise over $150,000, and if we each gave at least $100 we would go over $300,000.  That is not much to ask, especially as we enter into the time of year where giving is all around us.  Let’s give back to the PAC to ensure continued protection going forward for our profession and our clients.  Please give at least $50 to PAC this month. Click here to contribute. 


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