History of advocacy success

Finseca represents and serves the entire financial security profession, regardless of role, marketplace, or experience. Since our inception in 2020, Finseca has orchestrated the consolidation of four pivotal organizations. Among them are GAMA, which represents career agency leadership, and AALU, formerly known as the advocacy organization for advisors. NAILBA, which represents independent distribution and the brokerage marketplace, and Forum 400, the bastion of excellence for top-tier life insurance agents, have also joined our ranks. Our members are licensed in all 50 states and provide life insurance and retirement planning solutions that protect the dreams and promote the prosperity of the American people.
Finseca brings an unparalleled history of advocacy successes on behalf of the financial security profession.

In 2025

President Trump signed H.R. 1, the most comprehensive tax legislation since 2017, extending key taxpayer-friendly provisions like the Section 199A deduction and the higher estate tax exemption—without adding new taxes on life insurance. Finseca mobilized our strongest tax coalition ever to defend what matters most—permanence, stability, and client certainty.

In 2024

Finseca won a major victory as the DOL’s fiduciary-only rule was halted by a federal court, following a unified push from industry leaders against the mandate that all financial professionals act as fiduciaries.

In 2023

Finseca, as part of an industry coalition, was able to address legislation that was introduced as a fiduciary-like standard of conduct for life insurance and annuities and ensure the final bill, as signed by Governor Newsom, aligned with the NAIC Best Interest Standard for Annuities.

In 2022

- Finseca helped usher SECURE 2.0 into law creating billions in new retirement savings.

- Finseca was able to eliminate a provision in legislation in Kentucky that would have assesed sales tax on the advice the profession provides to their clients.

In 2021

Congress embarked on an ambitious effort to rewrite the Federal Tax code in the Inflation Reduction Act.

Due to Finseca’s advocacy and the efforts of its volunteer Ambassadors, we:

In 2020

Finseca helped secure the change to 7702 ensuring that whole life products would continue to be available to Americans in a low-interest rate environment and leading to product innovation.

In 2019

- Treasury clarifies that life insurance professionals are eligible for the full 20% small business deduction under Section 199A.

- Finseca worked to enact The SECURE Act. Legislation that expanded retirement savings tools and opportunities for millions of Americans.

In 2018

Onerous Department of Labor Fiduciary Rule Vacated by 5th Circuit Court of Appeals.

In 2017

Inside Buildup of Life Insurance Taken off the Treasury Department’s Tax Expenditures List.

Tax Cuts and Jobs Act (TCJA) Key Results:

Read more on the legacy of AALU’s leadership in tax reform.

In 2015

Inside Buildup of Life Insurance Taken off the Joint Committee on Taxation’s Tax Expenditure List.

In 2014

Tax Reform Legislation Dies; Included $60 Billion in Taxes Against Carriers and Products.

In 2009-2013

Series of Taxes on COLI & DRD Rebuffed.

In 2012

Estate Tax Reform with Reunification Made Permanent.

In 2010

Reunification of Estate and Gift Tax and Exemptions Enacted.

Language in Dodd-Frank to Study and Safeguard Standards of Conduct at the SEC.

In 2003-2006

COLI “Best Practices” and Benefits Legislation Signed Into Law.

In 2002

Non-Qualified Deferred Compensation (NQDC) and COLI Attacks Repelled.

In 1998-2000

Attacks on COLI, Annuities, Variable Life, and More Defeated.

In 1992

Tax on Corporate Owned Life Insurance (COLI) and Annuities Defeated.

In 1990

Legislation to Change Treatment of Business Uses of Life Insurance Proposed; Does Not Advance.

In 1984-1985

Tax on Life Insurance Inside Buildup Defeated.

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