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NAIFA-Texas Position on Healthcare Reform
NAIFA-Texas is committed to the preservation of the private delivery of health insurance. We oppose the creation of a public plan that would unfairly compete against private insurance companies in the health insurance marketplace. We oppose any plan that diminishes or eliminates the important role that agents perform in the marketing, selling and servicing of health insurance. NAIFA-Texas believes that we must build upon the strengths of the current system, reduce costs, insure coverage for more Texans, and improve value throughout our health-care system without resorting to new government programs or jeopardizing the high quality of care we enjoy and expect as Texas consumers. |
Celebrating 50 Years with NAIFA
Emory E. Clark, CLU, CFP, NAIFA - Fort Worth;
Robert A. Ehlers, NAIFA - Houston;
George M. Luhn, Jr., LUTCF, NAIFA - San Antonio;
James R. Mathis, CLU, ChFC, NAIFA - Waco;
R.G. Seeberger, CLU, NAIFA - Dallas; and
Jimmy S. Trimble, CLU, NAIFA - Greater East Texas |
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NAIFA-Texas and 360 Training have partnered together to bring members an unlimited amount of insurance continuing education courses for only $35.00. Click here to view the courses offered.
As you know, the Texas Department of Insurance requires that you complete 30 hours of continuing education every two years. Fifteen of the thirty hours must be completed in a classroom or classroom equivalent setting. Online courses through 360 Training qualify as "CLASSROOM EQUIVALENT" courses that can be completed in your office or home.
Click here for more information and requirements on Texas insurance continuing education. |
NAIFA Member Benefits
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Membership News
2nd Membership Benchmark Goal
The following local associations have met or
exceeded the December 31st goal as of 12/14/09
Large Local:
NAIFA-Austin
Medium Locals:
NAIFA-Pineywoods
NAIFA-TX Gulf Coast
Small Locals:
NAIFA-Texoma
NAIFA-Waco
Plainview AIFA
NAIFA-Wichita Falls
Local Associations that are close to the December 31st goal as of 12/14/09:
NAIFA-Abilene
NAIFA-Amarillo
NAIFA-Corpus Christi
NAIFA-Greater East Texas
NAIFA-Great Southwest
Heart of Texas AIFA
Mainland AIFA
Upper Valley AIFA
NAIFA-West Texas |
NAIFA-Texas IFAPAC News
***Congratulations***
Local Associations That are Ahead of Last Year in
Both Contributions and Contributors:
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NAIFA-Corpus
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NAIFA-Houston
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NAIFA-San Angelo
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NAIFA-West TX
Locals Ahead of Last Year in Contributions $$ Only:
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NAIFA-Beaumont
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NAIFA-Pineywoods
Locals Ahead of Last Year in Contributors Only:
Local Board Members
100% PAC Participation
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NAIFA-Amarillo
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NAIFA-Corpus Christi
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NAIFA-Houston
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Mainland AIFA
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NAIFA-Pineywoods
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NAIFA-TX Gulf Coast
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NAIFA-Texoma
Local Board Members
(Only Need 1 or 2 More Members)
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NAIFA-Austin
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NAIFA-Dallas
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NAIFA-El Paso
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NAIFA-GSW
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NAIFA-San Angelo
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NAIFA-San Antonio
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NAIFA-Waco
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NAIFA-Wichita Falls
All Board Members should contribute to the PAC!
Click here to view a complete list of contributors.
Mailing and Processing Deadlines
December 15th Deadline
(Regular Mail) Contributions to IFAPAC
IFAPAC
P.O. Box 759063
Baltimore, MD 21275-9063
After December 15th,
(Overnight Mail) Contributions to IFAPAC
IFAPAC
Attn: Magenta Ishak
2901 Telestar Court
Falls Church, VA 22042
703-770-8152
December 30th, Wednesday 10:00 a.m. Central Time
Deadline for Online Contributions @ www.naifa.org/advocacy/ifapac
All contributions must be deposited by December 30th to count for 2009. After this date, contributions will be counted for 2010.
Additional Questions? Contact Julie Moore at (512) 716-8800. |
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Endorsed Professional Liability Program |
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Errors & Omissions Insurance
The NAIFA-endorsed Professional Liability Insurance Program provides quality errors and omissions coverage (E&O) to NAIFA members. The program offers comprehensive professional liability insurance, superior customer service, an easy application process, and competitive rates. For information on all available coverage options and features, and/or how to apply, visit: www.naifainsurance.com | | |
House Passes Financial Services Overhaul
The U.S. House of Representatives on December 11 passed sweeping legislation, H.R. 4173, to overhaul the regulation of the financial services industry. The bill is known as the "Wall Street Reform and Consumer Protection Act of 2009." NAIFA has for months - and in some cases years - been actively involved with Members of Congress and their staff in the drafting, amending, and providing comment and testimony on the four sections of this bill that most impact financial professionals that focus their practice on life insurance, annuities, health insurance and employee benefits, multiline, and financial advising and investments. Click here to view the four key provisions of the bill.
The process now moves to the Senate where Senate Banking Committee Chairman Chris Dodd (D-CT) has introduced his version of comprehensive reform legislation. The Banking Committee members and staff are currently working through the Dodd bill and are preparing for a substantive markup which could begin in late January 2010. NAIFA is working collaboratively with its industry partners at AALU and NAILBA to address concerns with the Dodd bill.
To address the issue of a harmonized fiduciary standard, our collective organizations are united in advocating for a comprehensive study by the Securities and Exchange Commission-using its current statutory authority-to determine the appropriate obligations, regulations, examinations, and enforcement of brokers, dealers and investment advisers -- ultimately to ensure strong consumer protections. It is NAIFA's goal to ensure that such a study would result in a fact-based approach to address real problems rather than by adopting a "one-size fits all" fiduciary standard-the need for which is unsupported by any factual findings. NAIFA believes the Senate must first fully understand the unintended consequences of such an approach which, if not addressed correctly, could prove disastrous to consumers, particularly middle class consumers, as well as financial professionals. |
Indexed Annuity Battle Continues as SEC Agrees
to Two Year Delay of Implementation of Rule 151A
The U.S. Securities and Exchange Commission plans to provide a full 2-year implementation period for federal regulation of equity-indexed annuities under Rule 151A. The implementation period would begin after a final rule was issued, the SEC says in a court brief filed with the U.S. Court of Appeals for the D.C. Circuit.
The National Association For Fixed Annuities is warning supporters against using the SEC decision to delay enforcement of Rule 151A as a reason to relax. The decision to postpone enforcement of Rule 151A is viewed as a "positive development" but "NAFA is disappointed that the SEC also indicated that it may proceed with adoption of this rule," the group says.
The SEC told a panel of judges at the D.C. Circuit Court of Appeals in a brief that it wants the court to keep Rule 151A alive but is willing to push the effective date back two years. The regulation, which would classify indexed annuities as securities and put them under SEC jurisdiction, is now set to take effect in January 2011.
The appellate court is still deciding whether to throw out the rule, and the Coalition for Indexed Products, Washington, is pushing for passage of H.R. 2733 and S. 1389, bills that would define indexed annuities as insurance products. H.R. 2733 has 61 sponsors, and S. 1389 is sponsored by Sen. Ben Nelson, D-Nebraska.
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House Passes Estate Tax Extension
By a vote of 225 to 200, the U.S. House of Representatives on December 3 passed H.R. 4154, a bill sponsored by Rep. Earl Pomeroy (D-ND) that would extend 2009 estate tax rules into 2010 and beyond. The procedural rule under which the Pomeroy bill was debated requires the Pomeroy estate tax bill to be coupled with a statutory "Pay as You Go" budget rule. The ultimate inclusion of the "Pay-Go" rule will complicate negotiations with the Senate, according to NAIFA lobbyists. But, passage of H. R. 4154 in the House is considered the first of efforts to resolve the estate tax issue before the tax sunsets in 2010.
Unless Congress acts to stop it, the federal estate tax currently in force calls for the law to sunset in 2010, only to spring back to 2001 levels in 2011. Most members of Congress on both sides of the political aisle do not support that outcome. Finding a solution to this dilemma acceptable to both sides however has been elusive.
H.R. 4154 contains the following key estate tax provisions:
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Sets a $3,500,000 federal estate tax exemption in 2010 and beyond;
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Sets the maximum gift tax rate and estate tax rate at 45%;
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Maintains current step up in basis rules.
Missing from the bill is a provision reunifying gift tax and estate tax regimes and indexing of the exempt amount-provisions which are widely supported in Congress. Rumors swirling in Congress attribute the oversight to sensitivity in the House over the bill's impact on future budget deficits. Speaking to that issue, coupling the estate tax bill with a statutory "Pay as You Go" provision will require that future legislation that loses revenue must be matched up with cost cutting or revenue raising offsets.
No one expects the Senate to pass a similar estate tax fix combined with a Pay-Go statute, so the House exercise is not likely to succeed. However, most Senators also favor a fix to current estate tax law-some at higher limits some at lower. The House action may open the way for an ultimate compromise on the estate tax that will see something similar to current exempt amount limits and top tax rates in force for at least 2010. |
Rules Impact Agents Selling "Complex Products"
The Texas Department of Insurance (TDI) has published, for formal comment, proposed rules to implement legislation passed by the 81st regular session of the Texas Legislature and signed into law by Gov. Perry. The legislation relates to continuing education and/or certification requirements for the sale of annuities, Medicare advantage plans, and certification for agents marketing/selling small employer group health insurance. Click here to view the proposed rules in their entirety.
NAIFA-Texas is advised that the certification/examination and CE requirements will be applicable, if the rules are adopted, to individuals who obtain a current resident agent license issued by TDI on or after April 1, 2010, or who renew a resident agent license on or after April 1, 2010.
Licensees may count the hours required for certification and CE toward the completion of the continuing education requirements otherwise prescribed in the Insurance Code for the licensee. Licensees who may qualify for the longevity exemption (20 years or more continuous licensed) are not exempt from the provisions of the proposed rules to market or sell the so-called "complex products" as defined by statute.
Comments on these proposed rules should be submitted no later than 5:00 p.m. on Monday, December 21, 2009, to Gene C. Jamon, General Counsel and Chief Clerk, Mail Code 113-2A, Texas Department of Insurance, P.O. Box 149104, Austin, Texas 78714-9104. An additional copy of the comments must be simultaneously submitted to Matt Ray, Deputy Commissioner for the Licensing Program, Mail Code 107-1A, Texas Department of Insurance, P.O. Box 149104, Austin, Texas 78714-9104. |
NAIFA-Texas Advocacy in Action
Starting in December 2008, with the issuance of the Insurance Commissioner's Biennial Report to the 81st Texas Legislature, NAIFA-TX has endeavored to keep its members informed about the myriad issues at the state level impacting agents including proposals to add CE requirements for the marketing and selling of "complex products." Throughout the 81st Regular Session, NAIFA-TX issued alerts, updates, Capitol reports and e-newsletters to convey what the lawmakers were considering and what our positions/lobbying activities were on the issues. Following adjournment sine die June 1, 2009, and at the conclusion of the subsequent 20-day period for the Governor to sign, veto or allow legislation to become law, NAIFA-Texas sent a Report on the 81st Regular Session of the Texas Legislature to the membership on what the lawmakers did and what they did not do during the Session. Click here to view that report. |
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Houston Legislative Gala Features Top Lawmakers
Senator Tommy Williams (R-The Woodlands), Rep. Larry Taylor (R-Friendswood), and Rep. Ana Hernandez (D-Houston) participated in a panel discussion of key legislative issues of interest to agents/financial advisors during NAIFA-Houston's legislative gala December 10 at The Racquet Club, Houston. TDI sunset, Texas Windstorm Insurance Association (TWIA), Texas Guaranty Association protections for consumers and the business activity tax were among topics addressed by the area lawmakers who were joined for breakfast by nearly 100 members of NAIFA-Houston including NAIFA-Texas Trustee Joey Ussery, who served as facilitator for the panel; NAIFA-Texas Secretary-Treasurer Stephen Ehlers and CEO/Chief Legislative Officer Des Taylor.
Left to Right: Stephen M. Ehlers, LUTCF, CEP; Oscar L. Newton, Jr.; John N. Neighbors, CLU, LUTCF |
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Join the Ranks of Texas Leaders Today!
Texas Leaders Round Table (TLRT) is now accepting applications for membership in 2010. TLRT is Texas' own honor organization, recognizing top producers in the state and offering a great opportunity to network with other leaders.
As a member of TLRT, you'll receive a certificate recognizing your production achievement in 2009 and $100 off the registration to the Texas Leaders Round Table Roundup, held onJuly 15-16, 2010 at the Embassy Suites in San Marcos, Texas. The TLRT Roundup will feature MDRT-level educational and motivational speakers from across the country.
Become a member of TLRT today and join the ranks of Texas Leaders!
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2010 Leadership In Life Class Selected
The Leadership in Life Institute (LILI) selection committee has announced the selection of the 2010 class of candidates. Twelve students, selected from applicants across the state, will take part in the Institute, which is slated to begin in Austin on February 1, 2010. LILI is a six-month leadership development course offered exclusively to NAIFA members. The curriculum includes creating a business plan, exploring tools to improve your practice and techniques to enhance interpersonal relationships. The LILI curriculum is based on the leadership writings of Stephen Covey, John Maxwell, Jim Collins, and Kouzes & Posner. The following twelve (12) candidates were selected:
Christie D. Bonczek of NAIFA-TX Gulf Coast;
Cheri C. Stanwix of NAIFA Dallas;
Ruben D. Lozoya of NAIFA Beaumont;
Jenna M. Gasper of NAIFA-San Antonio;
Timothy J. Roels, Jr. of NAIFA-Fort Worth;
Nancy B. Britain of NAIFA-Austin;
Hagan J. Dial of NAIFA-Austin;
Theodore B. Erck of NAIFA-Houston;
Dawn A. Dickinson of NAIFA-Houston;
Belinda Kohutek of NAIFA-Abilene;
Rebecca Raeke of NAIFA-Wichita Falls;
Dale L. White, III of NAIFA-Dallas. | |
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