Good news for families struggling with autism and special needs care. Aetna has teamed up with ACES to offer its policyholders access to value-based autism care from ACES clinical providers. Aetna and ACES also announced the creation of Aetna’s first Applied Behavioral Analysis (ABA) Institute of Quality (IOQ). The IOQ will enable both parties to continue expanding access to quality autism care given ACES’ clinical model and Aetna and ACES’ shared commitment to reach and serve more individuals and their families affected by autism.
FINANCIAL PLANNING
MDRT Announces New Exec Committee
The Million Dollar Round Table announced that Randy Scritchfield, CFP, LUTCF will become the organization’s 96th President and Carol Kheng, ChFC, joins as Secretary.
Scritchfield, a 37-year member, succeeds 23-year member Ian Green, who will become the Immediate Past President. Peggy Tsai, RFP, CCFP, a 20-year member, and Gregory Gagne, ChFC, a 22-year member, will move into their new roles as First and Second Vice Presidents while Carol Kheng, ChFC, a 23-year member, will serve as Secretary.
According to MDRT: “The Executive Committee will empower financial services professionals to redefine the limits of success, equipping them to rise, excel and lead throughout the full cycle of their careers.” Godspeed to all!
CAL BROKER
We know it seems premature to many, but not to us: we’re gearing up for 2022 and want to add new ideas and new contributors to the editorial calendar. Do you have a brilliant idea for an article you’d like to write? Or even a series of articles? As long as they deal with health insurance, life insurance and financial planning, let’s talk! Please email us at editor@calbrokermagcom. Thanks and we hope to see you in our pages!!
LIFE
LIMRA: First Half of 2021 Had Highest U.S. Life Insurance Policy Sales Growth Since 1983
LIMRA’s Second Quarter U.S. Individual Life Insurance Sales Survey is pretty interesting. In the first six months of 2021, the total number of policies sold increased 8%, compared with prior year results. This is the highest policy sales growth recorded since 1983!
Total U.S. life insurance premium increased 21% in the second quarter 2021, the largest year-over-year increase since third quarter 1987. For the first half of 2021, total premium increased 18%, compared with the first six months of 2020.
“According to the 2021 Insurance Barometer study, 36% of Americans said they planned to purchase life insurance this year. For the second consecutive quarter, we see this purchase intent translate into strong sales results,” said David Levenson, president and CEO, LIMRA, LOMA and LL Global. “Following the record life insurance sales in the first quarter, most companies are reporting significant growth in premium and policy sales in the second quarter. Eight in 10 carriers reported positive premium growth, including each of the top 10 carriers.”
GAMBLE
IICF Announces Virtual Casino Night!
Mark Thursday, Sept. 9, from 4:30 – 6:30p.m. PT on your calendars. That’s when the 2021 IICF Western Division Virtual Casino Night will convene the insurance community for a live virtual gaming event including blackjack and roulette, along with industry networking, with the goal of raising more than $100,000 for nonprofit organizations supporting children at risk, education and human services. The top chip winner of the evening will be offered the opportunity to direct a $1,000 grant to the nonprofit of their choice. The event will also feature a Peloton Bike+ Raffle. Valued at $2,500, donations to win a Peloton Bike+ are: 10 for $100; 3 for $50; 1 for $20. Winner will be announced live at the event (individual need not be present). For tickets or sponsorship information, please contact Melissa-Anne Duncan, Insurance Industry Charitable Foundation Western Division Executive Director, at: maduncan@iicf.com or (714) 870-1084 or visit https://give.iicf.org/ge/casino21.
SOCIAL SECURITY
A New Report Says The COVID Recession Has Pushed Social Security Insolvency Up A Year
This is not the kind of news we like to pass along, but the latest intel says the pandemic and COVID recession has further damaged the financial outlook of social security:
The new projections in the annual Social Security and Medicare trustees reports indicate that Social Security’s massive trust fund will be unable to pay full benefits in 2034 instead of last year’s estimated exhaustion date of 2035. For the first time in 39 years the cost of delivering benefits will exceed the program’s total income from payroll tax collections and interest during this year. From here on, Social Security will be tapping its savings to pay full benefits.
It’s depressing and concerning! We think it’s best if you just read the whole article yourself.
M&A
Integrity Marketing Group, LLC the nation’s largest independent distributor of life and health insurance products, announced it has acquired Twardowski Insurance Agency, an independent marketing organization based in Denver, Colorado. As part of the acquisition, Zac Twardowski, President of Twardowski Insurance, will become a Managing Partner in Integrity. Financial terms of the transaction were not disclosed.
MEDICARE
Desert Cities Association of Healthcare Underwriters have announced they are back for their in-person medicare conference on September 16! The event will take place 9am-3:30pm a the Villa Portofino Clubhouse in Palm Desert. Lots of CE, networking, prizes and more! Register here.
The Los Angeles Association of Health Underwriters will hold its Medicare AEP Kick-off Summit in person Sept. 30 at Skirball Cultural Center. Guest speakers so far include: Paul Bauer – Region 9 CMS, Brad Miles, Barry Sikov and Paul Davis. Sponsorship info here. Register here.
FREE SCHOOL MONEY
NAAIA Scholarship Application Now Open
The National African American Insurance Association is accepting applications for its JL Tillman Endowed Scholarship Fund, which awards scholarships to help African-American students further their education in insurance, risk management, business, IT, actuarial science, finance or marketing. Deadline is October 1. Click here to learn more about this opportunity!
EVENTS
- American Association for Medicare Supplement Insurance, National Medicare Supplement Insurance Industry Summit, Sept 8-10, in person at Schaumburg Convention Center, Chicago area. Info here.
- DCAHU Senior Summit, in person September 16, Register here.
- LAAHU Medicare AEP Kickoff, in person September 30. Sponsorship info here. Register here.
- SIIA 41st Annual National Educational Conference & Expo, In-Person & Virtual, October 3 – 5, JW Marriott, Austin, TX. Register & secure room NOW! Hotel is nearly sold out. Info here.
