Election Matters

Looking at the Big Picture

November is election month, which creates an atmosphere of scrutiny around policies that might be included in our President-elect’s administration.  While life insurance is regulated by the government on a state-by-state basis, the federal government can impact life insurance via legislation, economic challenges, or new regulations. 

Now that we know who will be taking over the Oval Office in January, we can monitor new or revised legislation that affects the insurance industry.  There are several insurance-related matters on the docket for this new administration.  Markedly, we expect to see radical changes to tax legislation in 2025.  However, it’s important to remember that most of this legislation will change again within our clients’ lifetimes.  For instance, tax law cannot be structured to avoid reconciliation.  Therefore, any tax legislation imposed in 2025 would expire no later than 2035.  Any plans for a financial portfolio that made sense before the election will most likely make sense now, except in cases where the life expectancy of the client is abbreviated.  We remain focused on helping our clients reach their goals with a focus on guiding them when allocating their assets according to their long-term needs.

Not to say that we do not have our finger on the pulse of any insurance-related legislation that is up for debate.  We are a member of Finseca and believe in aligning ourselves with organizations that can directly impact insurance-related legislation that will positively affect our clients.  Our membership in M Financial Group gives us power to have our voices heard in the political arena.  M Financial Group provides resources to Finseca when advocating for the insurance industry.  Additionally, the FIRE (Finance, Insurance, Real Estate) sector is considered by most as the “largest source of campaign contributions to federal candidates and parties.”  Insurance is an important component to the financial portfolio of many families and businesses, and we are happy to partner with influencers who advocate on behalf of our clients.

Since we spend much of our time working with advisors, many of our new client relationships come directly from attorneys, accountants, and wealth managers. We have gained the trust of these advisors, and in turn have earned the privilege to be of service to their clients.  Contact us with any questions or opportunities to help you or your clients achieve identified goals.  This is what we enjoy doing for only a select number of families, businesses, and charitable institutions each year, and we look forward to hearing from you.