August 25, 2008
I believe that indexed annuities should fall under registration and this proposal. These policies are not sold as insurance products. They are clearly sold as "you can invest in the stock market with no risk and a minimum return and you can never get less that you invest." This is what the public hears and reads over and over again in marketing these products. I think anything that is sold like this and generates returns based on the market should only be sold by properly licensed individuals who are required to provee full and adquate disclosure. Scott Dickerson, ChFC, President, Dickerson Financial Services, Inc.