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Subject:  I dont like insurance companies Date:  2/2/2001  11:32 AM
Author:  JoJoJackson Number:  27634 of 88762

I participate in my companies 401-K plan administrated through American United Life. The only index fund available is a fund called SSgA S&P 500 Flagship Fund. This fund is proprietary to the insurance industry and is not listed like a normal mutual fund with a symbol followed by an "X".

I do not like the fact that I cannot follow the share price of the fund. I can only track "unit" value. I can't get a straight answer what a unit represents from my company or from A.U.L. The best explanation they gave me is that a unit represents a fraction of a share. They don't know what % the fraction is. They claim that the only expenses are what is covered in the .25% Portfolio Expense Ratio.

I have an inherent distrust of all insurance companies and I would never even think about using any insurance product as an investment or of using any insurance company's investment services unless I have no choice. I have no choice with my 401-K. If I want to participate, I use A.U.L.

What I need help with is what specific questions do I need to ask and to whom do I ask them? I know someone at A.U.L. can answer my questions if I ask the right person and avoid the rank and file employee who really doesn't know the answers.

Am I being prudent in my distrust of insurance companies? Or am I too paranoid?

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