November 17, 2008

Subject: Equity Index Annuity Rule - File No. S7-14-08

I am in support of the rule regulating equity-index annuities through the SEC. It can only help the industry if people who now only sell fixed insurance products are forced to get their securities licenses to sell these. If they are forced to get licensed, they may take a more objective look at the options available.

A couple of times, insurance agents have approached my clients about purchasing equity index annuities. In one instance, the agent gave the client a handmade Excel spreadsheet to show her how it worked, and there were no disclosures! We are not even sure where the numbers came from. The product had a 15-year surrender charge on it, and the client is 76 years old.

I have been in this business for over 10 years and am a long-term member of the FPA, and most of what I have seen relating to these products has been negative due to the selling practices of these aggressive agents who know very little or nothing about securities markets. Thank you for your time!

David W. Hoffmann, CFP®

Financial Advisor
D.B. Root & Company