MI Future stands for Michigan Future Foundation, a permanent, nonprofit 501(c)(3) educational foundation whose mission is to perpetuate the independent agency system by promoting and encouraging insurance careers. The impetus behind MI Future was a collective issue – the graying of the insurance industry. To put this in perspective, a 2006 release by the US Census Bureau estimated that over 7,900 people were turning 60 each day! The last of the “Baby Boomers” are expected to begin retiring by 2020. Currently, nearly 60 percent of the insurance industry’s employees are over the age of 45.
In response to discussions surrounding this very real need, the Michigan Association of Insurance Agent’s (MAIA) Board of Directors established the Michigan Future initiative in 2000. In 2001, the MAIA Board solidified their long-term commitment to the industry’s collective concern by establishing the Michigan Future Foundation (MI Future), a permanent, nonprofit, 501(c)(3).