Symetra Life Insurance Company announced today that two of its income annuity products are now available on the CANNEX Exchange. CANNEX distributes annuity surveys, quotations and illustrations on behalf of insurance companies in the U.S., 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. With the Symetra Freedom Income Annuity, annuity payments begin more than one year from purchase and can be used as “longevity insurance.” 1 Both products offer the owner income for a specified period or for life. "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,” said Pat McCormick, senior vice president of Sales and Distribution for Symetra’s Life and Annuities Division. “The addition of Symetra to our product exchange provides another quality income annuity option to the many financial advisors and institutions that use our service,” said Gary Baker, president of CANNEX USA. About Symetra Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation (NYSE: SYA), a diversified financial services company based in Bellevue, Wash. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent agents and advisors. For more information, visit www.symetra.com. About CANNEX CANNEX Financial Exchanges Limited is a privately held company that provides data and information services to the financial services industries in the U.S. and Canada. An independent third party, CANNEX gathers and compiles data and calculation values for financial products and services, then redistributes this information to financial advisors; financial institutions; print and electronic media; analytical services and consumers in the most efficient method for each client. CANNEX services in the U.S. include multi-carrier exchanges for income annuities and fixed deferred annuities; custom written algorithms and proprietary illustration systems for retirement income products; and retirement income educational tools and calculators. For more information, visit www.cannex.com. Annuities are issued by Symetra Life Insurance Company, 777 108 th Avenue NE, Suite 1200, Bellevue, WA 98004 and are not available in all U.S. states or any U.S. territory. Symetra Advantage Income Annuity is a single-premium immediate annuity, contract form numbers are LIA-26 7/00, LIA-27 7/00 in most states, LIA-27/OR 7/00 in Oregon. Symetra Freedom Income Annuity is a single-premium deferred payout annuity, contract form numbers are LIA-76 2/08, LIA-80 3/08 in most states, LIA-80/OR 3/08 in Oregon.
1The term “Longevity Insurance” refers to a concept, not the name of an insurance product. Some states define longevity insurance as an annuity with payout option only, with no death benefit.AOXP334 06/10