September 8, 2008
At this point in time this seems like a ridiculous step to take.
I understand why Variable Annuities should be sold as securities as their is RISK involved. A person can lose part or all of his/her investment but Fixed Annuities are safe NO RISK investments. The initial investment is not at risk and if the underlying asset goes down the investor has no loss of invested capital. In fact their is even a minimum GUARANTEED interest paid to the account.
Gentelmen this is not a SECURITY, but instead a safe alternate investment.
Thank you,