August 8, 2008
I am in agreement with the proposal that EIA's be sold only by reps holding a variable license. I am aware of several seniors who have tied up their life savings in these products due to the fact that an insurance agent is not being required to follow suitability requirements. The product is complex and most seniors are not aware of these complexities nor can they understand the product. We need to hold those who are selling EIA's to a higher degree of accountability.