August 4, 2008
The proposal to treat indexed annuities as securities is not in the best interest of the public and should not be approved. The people buying these are looking for the insurance guarantees. By making them securities the agents who do not wish to market products like securities will be shut out and their clients will not have access to a valuable option. There already exist variable annuities with the characteristics of securities. The public can only be confused if index annuities become lumped in with variable annuities. Keep indexed annuities as they are.