Subject: File No. S7-14-08
From: Sarah M Fuller, CFP(R)

August 5, 2008

I am definitely for the index annuity to be classified as a security. I see insurance sales people giving investment advice using the index annuity. They get very high commissions and misrepresent the product. I had a client, 68 years old that went to a seminar for "seniors" and the presenter was an insurance guy who classifies himself as a Chartered Senior Financial Advisor (3 day course). The client was contemplating a 20 year index annuity at age 68
It is a shame what I see happening with these index annuity sit down dinner seminars. It is sold by these people as an investment. They are told they can make more than on a fixed product, but can never lose a cent. They make it sound too good to be true. This practice needs to be stopped. Sincerely , Sarah Fuller , CFP(R)