October 14, 2008
Dear Chairman Cox:
The indices have crashed. My indexed annuity allows me to sleep well at night. It should now be crystal clear that indexed annuities are insurance products and not securities.
In reference to the Securities and Exchange Commissions (SEC) recently proposed rule 151A, it
is important to understand that indexed annuities are insurance products effectively governed
today by state regulators. As a result, indexed annuities should not be subject to SEC regulation.
Thank you,
David