From: Ronald B. Lee
Sent: April 1, 2005
Subject: File No. S7-06-04

I have been an insurance and Variable product sales professional for almost thirty-four years. Your proposed Disclosure requirements are not only unnecessary, they are also likely to confuse most clients and distract them from the needs that they have and must fulfill. We have been required for years to present to all of our prospective clients a prospectus (which is designed to be easier to read than at any time in the past) and other full disclosure documents. Some of these disclosure forms must be read and signed by the buyer prior to purchase. The maze of paper is already confusing to many. In some states it may be easier to purchase a gun than it is to purchase much needed life insurance and retirement products. Please try to simplify the process for the consumer...let them concentrate on reading a carefully worded prospectus and let them not focus entirely on cost but rather on both cost and the benefits that they will receive. I urge you to withdraw your proposed rule. Thank you, Ronald B. Lee