August 4, 2008
I have been involved in financial services for twenty plus years, and can see no advantage to allowing the SEC to have power over insurance products which inherently protect the clients from market loses, while allowing growth during bull markets. Perhaps the SEC should be exploring ways to protect the public in areas they currently regulate. I have one client who has both an indexed annuity and a mutual fund. His annuity has grown every year, while he has lost all gains made over the last five years in his mutual fund during this slow economy. Both vehicles are for his retirement. Indexed annuities are one of the best, safest investments ever devised.