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Symetra Launches Two New Income Annuity Products On Cannex

IBR Staff Writer Published 22 June 2010

Symetra Life Insurance Company, a subsidiary of Symetra Financial, has launched two of its new income annuity products on the Cannex Exchange.

Cannex distributes annuity surveys, quotations and illustrations on behalf of insurance companies in the US, providing services that allow brokers, agents and wirehouses to survey, quote and illustrate products from the income annuity providers they represent.

Symetra now offers its Advantage Income and Freedom Income annuities on the Cannex platform. The Symetra Advantage Income Annuity is a single-premium immediate annuity (SPIA) providing payments that begin within 12 months following purchase.

Pat McCormick, senior vice president of sales and distribution at Symetra’s life and annuities division, said: “Symetra has been an innovator in the income marketplace for decades, and we’re excited about the added convenience that the Cannex Exchange will deliver for financial advisors considering income products to complete their clients’ retirement portfolios.”