November 13, 2008
To whom it may concern:
I am in complete support of the Equity-Indexed Annuity Rule. I have been insurance licensed for over 18 years and have seen to many people sold an annuity for the wrong reasons especially equity index annuities.
The insurance companies need to be regulated as they sell these products as investments without oversight and most of the agents do not understand the products. The only reason for the transaction is the high commissions.
Ted