July 10, 2008
In my experience, few consumers who look at Equity Indexed Life or Annuity products really understand the fine print. If it was better regulated and required better disclosure (like Registered equities) the consuming public might realize the true cost of these products.
The problem with treating them as Registed Products would be the public would think they are Separate Accounts and not be as concerned about the Claims Paying Ability of the insuring company.