November 13, 2008
I believe it is very important for the SEC to provide oversight on indexed annuities. Insurance agents mislead customers and sell these contracts to people that they are not appropriate for. The States do not do an adequate job in protecting the public, especially the elderly. These contracts are incomprehensible to all but a few people. They should be regulated by the SEC.
James N. Thomas, CFP
Financial Planner and Insurance Agent