Subject: File No. S7-14-08
From: John R Murray
Affiliation: NAIFA

October 28, 2008

Please leave indexed annuities alone. In these times, a product that can replicate market performance while eliminating downside risk should be made easier for the general public to obtain, not harder. Besides, indexed annuities are clearly not securities by any stretch of the imagination. To classify indexed annuities as securities would be an obvious political move motivated by a campaign from frightened securities dealers. Stand strong and stand firm on what is true...an indexed annuity is not a security. By the way, just so you know where I'm coming from, I already have my Series 7 license.