August 4, 2008
Since I have been securities and insurance licensed, I have been invited to many seminars on Equity Indexed Annuities. It is my impression that most of the people who are being sold these products are being misled. They are told that they can participate in the market with a guarantee that they will not loose any of their investment. Most people think that by "participate in the market" they will get market returns when the insurance companies will get most of the market returns in a bull market. Sales of Indexed Annuities should be securities licensed and agents promoting them should be required to sell appropriate investments.
William L. Fulcher, Jr.