August 27, 2008
Greetings,
I am a licensed insurance professional an oppose Rule 151A and strongly urge you to withdraw the proposal.
I agree that people who promote unsuitable sales and engage in misleading sales practices should be aggressively prosecuted and subject to meaningful sanctions. This can be done by NAIC, the state insurance departments and the SEC working together.
Indexed annuities should continue to be treated as insurance products.
There are many agents & agencies that are honest and responsible. I am but one. I am also a member of NAIFA (National Association of Insurance and Financial Advisors) who is committed to working with NAIC and the state insurance commissioners towards the goal of having every state embrace the NAIC’s model regulations on annuity suitability and disclosure.
I also support NAIFA’s recommendation that standards be adopted and enforced for indexed annuity producs.
Please withdraw Rule 151A!
Thank you for your consideration.
Destiny Rodriguez
Rapid City, South Dakota