U.S. Senators Chris Van Hollen (D-Md.), Tim Scott (R-S.C.), Raphael Warnock (D-Ga.), and Cynthia Lummis (R-Wyo.) introduced the Empowering States to Protect Seniors from Bad Actors Act, a bipartisan bill that would create a Securities and Exchange Commission program to work with state regulators to protect senior investors.
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NAIFA Policy Director Maeghan Gale and Director of Government Relations Michael Hedge made a presentation on senior financial protection at the annual meeting of the National Council of Insurance Legislators (NCOIL) in Scottsdale, AZ.
Gale and Hedge discussed the important role of insurance and financial professionals in providing guidance for retired individuals. When a person retires, their need for financial services doesn’t end. NAIFA members help senior clients with budgeting and estimating their expenses, developing effective retirement plan disbursement strategies, obtaining coverage for healthcare, finding limited and extended care solutions, and creating financial legacies to leave loved ones or charities. NAIFA members have expertise in retirement planning, long-term care, estate planning, Social Security, Medicare, Medicare supplements, and other topics important to the financial security of seniors.