September 5, 2008
To whom it may concern,
I am a licensed agent in PA. My business and sales would be greatly impacted by the proposed rule 151A. I always comply with suitability guidelines in the sale of all annuity products. Although, there are some producers who may not follow these guidelines, I oppose rule 151A. The rule does not add any more protection to the consumer than what the states already have in place. Besides, they are fixed annuity(insurance) products and the risk lies with the issuer, not the consumer. Propose a rule that cracks down harder on unsuitable sales practices and I may support it. Until then, I am in opposition to this rule.
Alan Spotts
Watsontown, PA