Subject: File No. S7-14-08
From: Jack c carini

September 6, 2008

Why isn't whole life insurance being reviewed for a security???? It pays over 160% commissions to GA's and it is presented to clients as along term vehicle with ror's and severe penalties for early w/d or cancellations...
Wake up and pay attention to the brokerage houses that are killing the pensions and IRA's for the majority of hard working Americans. The definition for a investment says that it must have the opportunity for growth and the risk of loss to principal. The FEIA is a contract that is gtd and the aspect of losing your hard earned savings doesn't exist, therefore...not an investment by any stretch of your wildess imagination...
We are truly regulated (in the insurance industry) more than any other industry. Oh, except the brokerage business for true risky investment products.