July 9, 2008
INDEXED ANNUITIES ARE NOT SECURITIES THE ONLY REASON THEY ARE BEING CLASSIFIED AS SUCH IS SO THE BROKERAGE HOUSES WILL GET A PIECE OF THE ACTION. THEY ARE LOSING MARKET SHARE BECAUSE INDEXED ANNUITIES ARE A BETTER PRODUCT THAN VARIABLE ANNUITIES. A PRODUCT THAT CANNOT LOSE MONEY IS NOT A SECURITY. I THINK IT IS INTERESTING THAT YOU HAVE NOT CHOSEN TO INCLUDE INDEXED LIFE INSURANCE OR INDEXED CERTIFICATES OF DEPOSIT. COULD IT BE THAT THE BUSINESS TO BE GOTTEN THERE IS NOT WHAT THE BROKERAGE HOUSES WANT?
SO MUCH OF THIS TYPE OF RULE MAKING IS UNDER THE GUISE OF PROTECTING SENIORS. THE FACT IS THEY ARE AMONG THE MOST ASTUTE WHEN IT COMES TO MONEY. THE IDEA THAT WHEN PEOPLE REACH A CERTAIN AGE THEY SOMEHOW BECOME MENTALLY DEFICIENT AND NEED THE PROTECTION OF GOVERNMENT IS NONSENSE.