August 4, 2008
I dont believe that the intervention from the SEC into the Equity Indexed Annuities is a wise move to benefit the consumer. While I have been in this business for 25 years I have seen both insurance agents and registered representatives do things in their best interest instead of the consumer. It is not a matter of regulation from yet another agency but should be a matter of letter the insurance industry police such abuses. It seems to me that any vehicle that does not have the potential for loss is not a security but is in fact still an insurance contract.