DEFINITION of 'National Association Of Insurance And Financial Advisors - NAIFA'

The National Association Of Insurance And Financial Advisors - NAIFAA  is a nonprofit group that works on behalf of its members to promote a favorable regulative environment, provide professional education services and ensure ethical professional conduct for insurance and financial advisors.

The Falls Church, Va.-based NAIFA provides its members with sales training, networking facilities and other tools to help them succeed and build their practices. In addition, they lobby on Capitol Hill to promote favorable legislation for the insurance and financial advisory industry.

BREAKING DOWN 'National Association Of Insurance And Financial Advisors - NAIFA'

The NAIFA was originally founded in 1890 as the National Association of Life Underwriters. The organization believes that life insurance and other risk mitigation practices should be at the core of a solid financial plan. NAIFA has many endorsements from large insurance and financial corporations, who encourage their employees to join a local NAIFA chapter.

Strategic Plan

The group said that its members include: Insurance agents, financial advisors, multiline agents, health insurance and employee benefits specialists, both captive and independent advisors, those new to the business, industry leaders and everyone in between.

"Advancing diversity and inclusion in the insurance and financial services industry is at the forefront of NAIFA’s vision for the future, and a key component of the NAIFA 20/20 Strategic Plan.  The Diversity and Inclusion initiative supports NAIFA 20/20’s goal to empower members by broadening diversity, bolstering advocacy, developing top-notch training programs and increasing public awareness," the organization stated on its website.

Among the groups it supports are Save Our Savings, "an alliance of advocates and businesses dedicated to protecting Americans' retirement savings as Congress plans a comprehensive tax overhaul. The SOS Coalition is working to ensure Americans will continue to have access to the private sector retirement system and to meaningful savings incentives. The Partnership to Protect Workplace Opportunity (PPWO) consists of a diverse group of associations, businesses, and other stakeholders representing employers with millions of employees across the country in almost every industry. The Partnership is dedicated to advocating the interests of its members in the expected regulatory debate on potential changes to the Fair Labor Standards Act (FLSA) overtime regulations. Americans to Protect Family Security is a partnership of America's life insurance companies, agents, and financial advisors that is dedicated to educating policymakers about the role our products play in the financial lives of 75 million American families. These families turn to life insurance companies and trusted agents and advisors to protect their financial futures with life insurance, annuities, long-term care, and disability income insurance."

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