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NAVA 2008 Annual Meeting Focuses On Helping Americans Achieve Retirement Security in Turbulent Economic Times

Posted on: Monday, 6 October 2008, 09:00 CDT

NAVA, Inc., the Association for Insured Retirement Solutions, today kicked-off its annual meeting in Philadelphia, Pa., with a central focus: enhancing the insurance industry's ongoing efforts to provide the information, guidance and solutions necessary to help Americans achieve financial security in retirement.

The NAVA Annual Meeting brings together the nation's insurance, distributor and financial advisor organizations that develop and market retirement income and insurance solutions for Americans, including annuities and variable life products. The meeting is an opportunity for the insurance industry's top experts, visionaries and thought leaders to address the key issues, challenges and opportunities facing the industry, and to develop strategies to better serve the public.

"Today, the effects of deteriorating consumer confidence in the financial markets and many financial service providers is having a direct impact on the tens of millions of Americans planning for or living in retirement," said Cathy Weatherford, president and CEO of NAVA. "I believe that it is our responsibility, as an industry, to do everything in our power to ensure that the financial products and services we provide meet our customers' needs today and tomorrow. Every sector of the financial services industry is now facing a much higher standard of proof in their efforts to help the understandably skittish retirement-minded Americans. This includes the insurance business, which as many business analysts often point out, remains strong."

"One of my goals for this Annual Meeting and the year ahead is to work closely with the industry to cut through the angst, skepticism and mis-information that is derailing consumers' retirement planning efforts. The reality is that annuities and the insurance guarantees they offer are safe, prudent and valuable for potentially millions of Americans, particularly in these difficult economic times, and I look forward to working with the NAVA membership to get the word out," added Weatherford.

This year's Annual Meeting will include the following sessions:

-- Clash of the Titans - A debate on the country's current financial, economic and political issues featuring Karl Rove, former Deputy Chief of Staff for President George W. Bush, and Max Cleland, former Democratic Senator from Georgia

-- Meeting Tomorrow's Needs Today Through Innovative Retirement Income Solutions - Representatives from Genworth Financial, AIG/SunAmerica/VALIC and Charles Schwab & Co. will outline the latest annuity product innovations to help the baby boomers meet their retirement income needs

-- Election 2008 and the Future of The United States Economy - Noted economist and policy analyst, Stephen Moore, will discuss the how the election will shape the future of the nation's economy

As the industry's trade association, NAVA addresses the need and importance of retirement income preparation and management for retirement-focused Americans, and provides educational and informational resources to its members and the public. NAVA also helps protect consumers by encouraging adherence to the highest ethical standards by insurers, distributors and all other participants in its diverse industry. For more information on the 2008 NAVA Annual Meeting, download the final schedule at: http://www.navanet.org/conf/pdf/NAVA_Annual_final%20program_schedule 2008.pdf (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

An annuity is a long-term retirement vehicle offering a combination of insurance benefits, tax-deferred savings and guaranteed lifetime income payments. Variable annuities allow individuals to invest in a variety of underlying fixed and equity funds, and provide returns based on the performance of these funds. Valuable annuity insurance features include beneficiary protection in the form of the guaranteed minimum death benefit, and living benefits which protect against downside market risk. A variable annuity also offers the ability to convert retirement savings into a steady "paycheck" for life, similar to pension plan payments.

About NAVA

NAVA, Inc., the Association for Insured Retirement Solutions, is a non-profit trade association located in suburban Washington D.C. NAVA provides a variety of services to the industry, including educational forums, research, and conferences aimed at furthering the development and understanding of fixed and variable annuities, income annuities and variable life insurance. NAVA also maintains and supports an educational website for consumers at www.RetireOnYourTerms.com.

Source: Business Wire

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