NAIFA Fly-In Spotlights Women’s Financial Security in Meetings With Members of Congress

The National Association of Insurance and Financial Advisors (NAIFA) hosted its second Women’s Financial Security Fly-In March 6-7 in Washington, D.C. The event, designed to encourage the political involvement of women financial professionals, featured a day of grassroots advocacy training, policy briefings, inspirational discussions, and networking. On the second day of the event, attendees from 15 different states went to Capitol Hill for meetings with lawmakers representing their home states and districts.

Women in the United States face an array of financial challenges, many of which can be shaped by federal laws and regulations.

• Less than 50% of women feel financially secure and financially prepared for retirement.
• LIMRA research reveals women who own life insurance are more likely than those who don’t have coverage to feel financially secure.
• 4 in 10 women say their families would face financial hardship within six months should the primary wage earner die.
• Over a quarter (26%) expect their family to struggle financially within one month.

Women who work with financial professionals are more likely to achieve positive financial situations according to research by LIMRA, and they often prefer to be served by women financial professionals who have had similar financial, career, and family experiences. By encouraging women financial professionals to advocate on behalf of their clients, NAIFA is ensuring that there is a unified voice for women’s financial security on Capitol Hill.

“Just as women financial professionals make a meaningful difference in the financial wellbeing of their clients, they can be very influential with lawmakers on financial security issues,” said NAIFA Senior Vice President for Government Relations Diane Boyle. “Their unique stories resonate within Congressional offices and paint vivid pictures of how policies created in Washington, D.C., impact women, families, and everyone across the country. Things like potential tax hikes on insurance consumers, the Department of Labor’s proposal that would limit access to financial guidance, and anticipated tax- and retirement-reform efforts are very important to women financial professionals and their clients. NAIFA’s Women’s Financial Security Fly-In is making sure Congress gets the message.”

On the first day of the fly-in, attendees learned some of the ins and out of Washington, D.C., advocacy. Presenters included a panel of experienced government relations experts:

• Susan Callanan, Vice President, Public Policy and Operations/Government and Community Relations at Northwestern Mutual
• Jill Brown, Lead, Federal Government Relations at Mass Mutual
• Kerry Cole, Corporate Vice President, Office of Government Affairs at New York Life
• Diane Boyle, Senior Vice President, Government Relations at NAIFA

The keynote speaker was Christine Hale, Assistant Administrator of the U.S. Small Business Administration’s Office of Women’s Business Ownership.

The 2024 event follows NAIFA’s highly successful inaugural Women’s Financial Security Fly-In last March. These invitation-only fly-ins bring together successful women financial professionals from across the country. The 2024 NAIFA Women’s Financial Security Fly-In was made possible by NAIFA’s company sponsors, MassMutual, New York Life, and Northwestern Mutual, and advocacy partner the American Council of Life Insurers.