September 4, 2008
I adamantly oppose Rule 151. I am a life insurance agent and have been for 16 years. I cannot understand why this action is even on the table for discussion. Clients are NOT investing in stock. I believe that this has come about is because the securities brokers want to "cash in" on the popular equity indexed annuities. The insurance companies I work with have set rigid "suitability" rules in place and enforce them. Equity indexed annuities are very popular with the senior market. I do not see any protections available in the proposal of Rule 151.