September 2, 2008
I am writing to oppose the ruling 151A, I feel this would be wrong to limit the sales of this product to only those with a Securities license since they would not offer the product to begin with and history of sales would prove this.
The design and sales of this product is regulated already by the state insurance department as well as it is heavily regulated by the companies that sell them. Suitability, recommendations, disclosure, advertising as well as many other quality control measures are already in place so this regulation would add little to no benefit from it's current protection.
Suitability and regulation are necessary issues but are already covered by the carriers themselves.
Again I feel this is an unnecessary ruling that will only harm both small businesses nationwide as well as hurt the consumer as well by limiting the availability.