September 5, 2008
To whom it may concern,
I am writing this note to voice my opposition to rule 151A regarding planned regulations on the fixed indexed annuity marketplace. I believe, first of all, that this is a totally unnecessary regulation that would adversely affect any consumers that desire to purchase fixed indexed annuities.
I do also believe that there is a prudent, valuable, and sensible place in many well diversified portfolios for properly positioned indexed fixed annuity products. These products are best used, in my opinion, to enhance the "safe", "no market risk" portion of the persons portfolio.
This product should certainly be used in appropriate situations (as should all products used by consumers) and the suitability requirements that are currently required by insurance companies are put in place to ensure the "appropriate" use of these products.
Making these products subject to SBC regulations would absolutely and unnecessarily adversely affect consumers who desire to use them to enhance their portfolios.
Sincerely,
Charles G. Linder CLU, ChFC