Subject: File No. S7-14-08
From: Willard R Brumbaugh, LUTCF
Affiliation: National Associstion of Insurance and Financial Advisors

August 23, 2008

Fixed Indexed Annuities are attractive because people have become wary of stock market risk. The proposal to call FIAs securities is merely an attempt by FINRA (NASD) to squelch competition.