November 13, 2008
To Whom It May Concern:
My name is Matt Page and I am a member of FPA. I support the Equity-Index Annuity Rule. I am both a Financial Planner and an Insurance agent. I cannot believe how poorly regulated the insurance world is comparison the mutual fund world. Most of the abusive behavior done to consumers is on the insurance side, specifically annuities. The cost structure of annuities is clear as mud, even to the people selling the products.
Please regulate insurance companies, their products and their sales force more heavily, especially in light of the current collapse of AIG. Clearly insurance companies can be trusted to manage risk as well as previously thought.
Sincerely,
Matt Page, CFP®