AALU Urges Congress to Retain Tax Treatment of Life Insurance Products


Association for Advanced Life UnderwritingAssociation for Advanced Life Underwriting pic

Association for Advanced Life Underwriting
Image: allu.org

Experienced in establishing strategic partnerships for the purpose of distributing life insurance products, Michael Wodchis serves as vice president at Windsor Insurance Associates. Actively engaged in his profession, Michael Wodchis holds memberships with the Society of Financial Service Professionals and the Association for Advanced Life Underwriting.

As part of its mission to represent the interests of its members and the entire life insurance community, the Association for Advanced Life Underwriting (AALU) maintains a government affairs team at its office in Washington, D.C. From this office, AALU focuses on advocating in three areas, including the taxation of life insurance products.

According to AALU, two-thirds of American families depend on life insurance products. In addition, companies rely on these plans to finance employee benefits and to remain operational in the event of the death of key organizational figures.

AALU recognizes the efforts of Congress to address the fiscal issues of the United States and acknowledges the desire of some in government to reform the tax code. However, AALU advises Congress that any changes to the tax code should not extend to life insurance products. According to AALU, retaining the current tax treatment of these products is important not only to those families and businesses that rely on them, but also to the health of the overall US economy.