November 17, 2008
This ruling would adversly affect my clients as well as many others approaching retirement or already retired. Fixed index annuities are an ideal tool that regular, ordinary, folks use to limit risk while still being able to have additional upside potential. It is an ideal diversification tool that allows people to sleep at night especially when there is market turmoil such as what weare currently experiencing. Also, it helps people maintain their investment asset allocation by not panicking when things go badly in the markets.
I urge you not to pass this ruling for my clients' good. If passed, it will hurt my clients as well as many ordinary middle class people.
Les Moshinsky
Licenced Insurance Agent
State of IL