July 24, 2008
It does not take a rocket scientist to interpret the definition of " investment ". The principal in an indexed annuity is never at risk There are charges if surrendered early, just like a CD. If all insurance companies went belly-up and all Guarantee Associations did the same, Then there could be risk. There are a lot of safety seeking retirees who have transferred money into indexed annuities. They have put billions of dollars into these annuities. They know the definition of investment Using the KISS formula, there is no valid or definitive reason to treat indexed annuities as securities. If the SEC reasoning is approved, then a special examination for agents selling indexed annuities should be set up since thousands of agents ( including me ) do not want to sell securities. I have been in this business 44 years without having to apologize for losing someone's money. I will keep it that way.I am 72 and do not look forward to completing Series 6 63. I trust the SEC will look at this matter as a two-way street, not just one way Jim H.