Subject: File No. S7-14-08
From: Terrence O Morgan
Affiliation: AIF

July 10, 2008

The vast majority of index annuity sales are sold by life and health agents and property casualty agents that don't want to take the time to get a securities license and find this product a convenient arsenal in their product inventory to compete against quality investment products. And, the vast majority of recipients that purchase Index products think they are DIRECTLY participating in the stock market. Please get control of this product. People are getting taken advantage of seriously and the insurance industry won't step up to the plate.