Subject: File Number S7-14-08

September 22, 2008

I totally believe the effort by the SEC to classify indexed annuities as a security is wrong. Indexed annuities are a fixed investment. All my clients have comment the past months they were glad to be in an index annuity instead of the market or even in banks. Have some people been misled or not told about surrender charges, absolutely. There is corruption everywhere, including government and mortgage companies. Those agents need to be taken care of and not SEC regulations and cost. In what cases I've read about many times it was the beneficiaries that said the payout in an particular annuity was wrong, not the client that bought the annuity. The client probably knew and was not misled. I myself have bought a payout type annuity just so my beneficiaries could not get a full lump sum to misspend. Please do not put more regulations on a product designed to help maintain assets. Larry Gregory