September 9, 2008
Dear Sir:
Please reconsider your proposal to make most equity indexed annuities fall under SEC jurisdiction. These products are not equities and the client has no market risk. These two facts alone should keep them from SEC jurisdiction. These products provide for the safety of people's lifetime savings like no other financial product available. Many seniors don't want to deal with a security broker to purchase their insurance products. Professional insurance agents like myself spend years developing these relationships with our clients. We are trusted advisors to thousands of clients and shouldn't be forced to become securities licensed to continue to provide the guidance that these people have come to expect from us.