August 9, 2008
I have read the information on what the SEC is attemping. I strongly feel this is wrong. When the Agent meets with a client and offers an indexed product, This is NOT by any means a SEC product. When the client earns money as market trends increase, but when the market is down, the client does NOT loose, Therefore this becomes a win for the client. WHAT'S next put controls over life insurance products TOO?
Put into place to ensure that the AGENT is giving the client ALL of the information on the Annunitie product being offered NOT just explaining the gains they would recieve, but having them sign off on where they are aware of the fact their would be pentilies for early withdrawl, just as there is with any CD's that someone may have.
This proposal is wrong