September 2, 2008
I know that this proposal is a product of the securities industry lobbying. They want me, as a life and health licensed agent to have to spend the many dollars on training and licensing to market a product that cannot lose money, and the funds, of which, are not at risk in the market, but are contractually safeguarded. I have NO interest in marketing ANY product that can lose money for my clients, and will never be a "securities" agent, so this whole thing is just designed to force people like me to have to pay a lot of money to support securities regulatory agencies, with NO beneficial effect on those I serve.
This proposal would put me out of the Fixed Indexed Annuity business.