Subject: File No. S7-14-08
From: Daniel C Seibt
Affiliation: Owner, Seibt Insurance Agency

September 2, 2008

I have been an independent agent for over 20 years. I am very concerned about the issue at hand regarding Indexed Annuities. The securities regulation will add very little benefit to consumer protection. With the companies that I represent currently, they already require suitablility compliance besides the state departments regulations. They are fixed rate products that provide a minimum guaranteed interest rate with the potential to earn addtional return based on the investment portfolio. Their principle is guaranteed with the exception of early surrender penalties. What does the stock market or the mutual fund market guarantee. I do not think there needs to be any addtional regulation with the SEC on this product being that there is already enough by the states and insurance carriers in themselves. It will take away a potential product discusson with my clients. I was a series 6 licensed agent at one time and let my license lapse for the very reason of not wanting to put people at risk. Now you want to take this away and make it a controlled license product.
Leave it alone
Sincerly,
Daniel C. Seibt
Seibt Insurance Agency