From: Ken Butterfield
Sent: August 25, 2005
Subject: File No. SR-NASD-2004-183

After reading up to page 5 of 1794, I thought I'd just give my 2 cents on VAs. I believe they should be supervised and approved before use but I'm not convinced they should have an age limit - most of them already have a max. issue age set by the co. There are older people who want tax defferal and/or one simple statement with many investment options - these reasons may be most important to certain individuals. Also using VAs for IRAs may not be so terrible - again, certain individuals may like the death benefits and/or simplicity of statements for example, and these reasons alone may be the most important for these individuals. Unfortunately I do not have the time to read all of this rule, but it concerns me how many words are attached. I don't want to be afraid to use VAs when they might be the right thing. Ken Butterfield