November 14, 2008
Dear Sir or Madam,
I am writing as a CERTIFIED FINANCIAL PLANNER certificant and member of the Financial Planning Association (FPA) to support the proposed rule regarding SEC oversight of indexed annuity sales in addition to state oversight by insurance commissioners. Such oversight is highly important in order to help curb abusive sales practices, particularly aggressive and misleading sales tactics targeting the elderly. Consumers are often misled regarding the benefits of an indexed annuity, particular the elderly, and liquidity risks, surrender charges and other suitability factors are not always clearly disclosed.
I strongly urge you to enforce this rule.
Susan Veligor, CFP®