Subject: File No. S7-06-04
From: michael f dailey

March 17, 2004

A form is definitely needed to explain fees etc.

My mother last year 90 put 290,000 into variable annuities. She has very poor hearing and eyesight. She is unable to read the newspaper so I know she could not read forms she was given to sign by the bank manager who talked her into annuities. I doubt if she realizes that the bank manager did not do this out of the goodness of her heart, but to collect a commission.

Forms must be available with enlarged type for people like my mother.

One last note. I asked her if she was given a prospectus. She did not even know what I was talking about.