Subject: File No. S7-14-08
From: Kenneth D Stephenson, ChFC®
Affiliation: NAIFA

October 14, 2008

After all the recent events that have unfolded regarding our economy, I don't understand why we would change one of the few financial products that has not had problems during this turmoil. The EIA has guaranteed protections from any losses. I have had many calls from policyholders of these products that are so thankful that their money has been protected. The states have done a wonderful job at regulating this product and have recently made great strides in protecting the consumer. The complaint ratio on this product is very low. The bottom line is that we don't need the federal government regulating a guaranteed product. It's not a security and never should be regulated as such. If we regulate the product then it will only hurt the consumer by having the EIA be less competitive in the marketplace. After recent events don't we (for once)need to think about the consumer and what they need. With all the other problems that Washington has, I can't understand why this isn't just thrown out permanently.