July 2, 2008
I would ask the SEC NOT to bring Index annuities under it's arm in the way that it requires only registered representatives be the only agent who can offer this product to the public.
I have been in the insurance business for 38 years and this product is one my clients enjoy because of it's guarantees and additional potential above the standard fixed rate annuity. They understand what they have purchased because I take the time to explain it to them.
I propose stricter requirements of disclosurer for sale of the product but NOT removal of this valuable financial tool from the hands of insurance agents such as myself.
Thank you for your time.
Henry Morgan