October 29, 2008
-Fixed Indexed Annuities are excellent insurance products that give consumers guarantees, flexibility, tax deferral, death benefits, opportunity for growth without market risk,
opportunity for guaranteed life time income and many other advantages. (Peace of mind security)
Fixed Indexed Annuities are heavily regulated by state insurance departments just like all other insurance products. Appropriate suitability and disclosure requirements are in place.
Needless to say, there are marketing abuses of all financial products. Critics have focused on abuses of Fixed Indexed Annuity Products, which are regulated by state insurance departments and these abuses have been largely
corrected.
The recent plunge in the stock markets around the world and the weakening economy has caused turmoil and grief for millions of Americans. BUT, Fixed Indexed Annuity policy holders have not lost a single penny in savings. Fixed Indexed Annuity policy holders have peace of mind that market fluctuations do not adversely affect their account values.
Thank You for the opportunity to express my concerns.
Sincerely,
Richard G. Drisko