American General Life Companies’ SPIA Products Added to CANNEX SPIA Exchange

American General Life Companies’ SPIA Products Added
to CANNEX SPIA Exchange

HOUSTON, February 5, 2009 — American General Life Companies (American General) and CANNEX announced today the inclusion of American General’s income annuities, underwritten by American General Life Insurance Company (AGL) and The United States Life Insurance Company in the City of New York (USL), on the CANNEX SPIA Exchange, effective February 1, 2009. Advisors value the CANNEX SPIA Exchange because it provides the ability to quickly and conveniently compare and contrast the single premium immediate annuity (SPIA) products and rates of several different carriers, helping to instantly fulfill the due diligence requirements expected by clients and prospects.

“In this historically volatile market environment, the single premium immediate annuity offers tremendous value to retirees and their advisors seeking certainty in retirement income outcomes,” said Larry Nisenson , senior vice president of annuity sales for American General Life Companies. “CANNEX affords advisors the ability to rapidly and objectively identify the best SPIA value for their clients.”

For more information on American General’s SPIA products, contact the American General Annuity sales desk at 1-888-438-6933 or visit www.retirementraise.com.

American General Life Companies, www.americangeneral.com, is the marketing name for the insurance companies and affiliates comprising the domestic life operations of American International Group, Inc., including American General Life Insurance Company (AGL) and The United States Life Insurance Company in the City of New York (USL). American General Life Companies insurers offer a broad spectrum of fixed and variable life insurance, annuities and accident and health products to serve the financial and estate planning needs of customers throughout the United States.

CANNEX Financial Exchanges Limited (CANNEX) facilitates the purchase and sale of a variety of financial products in the United States and Canada.  One of the services CANNEX offers is a SPIA Exchange.  With this service, each participating insurance carrier provides CANNEX with its method of calculating SPIAs, which CANNEX reprograms onto its servers. For more information, please contact Lowell Aronoff, CEO at 1.800.387.1269 or [email protected].

Contact: Rhonda Sloan
Corporate Communications
American General Life Companies
(713) 831-8687
[email protected]