August 3, 2008
As in independent agent, and owner of an insurance agency (Insurance Specialists Agency, LLC - Boca Raton), I strongly disagree with the possibility of make agents possess a securities license to sell EIA's. This will cause a tremendous potential loss of business, and cause a huge delay and expense in getting thousands of agents licensed. Nothing can be gained by this unnecessary tedious task, but possibly many hardships to agents. Getting the securities license is a time consuming, costly, job, that will not provide clients with any additional help in buying these excellent products. The products are very secure and unlike variable annuities, are safe from any loss of principle. The chaos that would come about might even encourage agents to stop selling them, which would cause a great loss for slients.
Sincerely,
Ronald I Schwartz
Insurance Specialists Agency, LLC