October 29, 2008
Fixed indexed annuities are not securities. The value does not decrease when the stock market goes down like it has the last year. Many of my client’s are very pleased they are in this product due to the recent market volatility. I’m sure the department of insurance can handle these products without FINRA interfering. The only reason the securities people want this to be listed as a security is because it’s costing them in their pocket book.
Gary Emory