August 29, 2008
This is in regard to the SEC Proposed change of rules so that indexed annuities would become a security.
It is interesting that only a very small number of consumers are unhappy with their indexed annuities. THe last I heard, it was 2 tenths of one per cent. There isn't a security, mutual or stock fund which has any where near that high of a satisfaction rate. Why change something that is working better than what the SEC is doing. You could give away $100 bills on the street corner and have that much of a dis-satisfaction rate. SO, I maintain that the SEC should keep their hands off.