November 17, 2008
To whom it may concern:
I find it hard to believe in these troubled times that anyone would think of harming the senior population by changing the annuity business in this manner. For the agents who have not been following the rules...eliminate them-don't eliminate a market that is so desperately necessary for all of our country.
Having the annuities regulated by the SEC would be as big of a disaster as the mess the SEC has made already with their own block of business. You have seen the corruption and waste and unnecessary expenses passed onto the clients.
If this were your family, would you do this to them?
Leave the annuity business where it is. Let the commissioner of Insurance in each state do their job. When a client files a complaint in WI, action is taken. Start with this first instead of destroying a good thing.
Thank you
Mary