U.S. Congress - S.1389 Fixed Indexed Annuities and Insurance Products Classification Act of 2009
S.1389 - Fixed Indexed Annuities and Insurance Products Classification Act of 2009
A bill to clarify the exemption for certain annuity contracts and insurance policies from Federal regulation under the Securities Act of 1933. view all titles (2)
All Bill Titles
- Official: A bill to clarify the exemption for certain annuity contracts and insurance policies from Federal regulation under the Securities Act of 1933. as introduced.
- Short: Fixed Indexed Annuities and Insurance Products Classification Act of 2009 as introduced.
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This bill needs to be passed. There is no need for dual regulation for Fixed index annuities. The States Dept of Insurance has been doing a great job regulating them. The SEC can’t keep watch over their own people. Good job watching over Bernie Madoff! What a joke! The bottom line is Fixed Index Annuities are Not securities. You cannot loose money, as your principal is guaranteed, plus interest earned. Consumers need safe places to put their money. I am glad to have put my retirement money into fixed annuities, and not into the market! I like knowing that I don’t have to worry everyday about the downside of the market.