September 9, 2008
If you sell mutual funds they are securities.
If you sell mutual funds in indexed annuities they are insurance.
It seems Lincoln’s riddle would apply: How many legs does a dog have if you call his tail a leg?" The answer: "Four, because calling a tail a leg does not make it a leg.
Putting investments inside an insurance product does not change what they are. It may modify the risk somewhat, at great expense, but it still is what it is.
Rick Mayhew
Fenton (St. Louis), MO