Subject: File No. S7-14-08
From: Roger Fuller, CFP®

September 2, 2008

I think index linked annuities should be regulated by the SEC and sold only through registered representatives of broker/dealers.

I have seen and heard numerous advertisements on these products that pitch them as investing in the stock market with no chance of losses. Also, many of the insurance agents that are selling these are attempting to give investment advice by advising clients on which indexes will do the best.
It is obvious to me, when talking with one of my clients who has been solicited by an insurance agent to purchase an indexed-linked annuity, that they don't understand what they are purchasing.

Most of these products have really high commissions and long holding periods with large penalties if not held to maturity.