SPRINGFIELD, Mass., Oct. 3, 2011 /PRNewswire/ -- Lincoln Benefit Life Company, a subsidiary of Allstate, has made its IncomeReady(SM) Single Premium Immediate Annuity available through the CANNEX SPIA Exchange, an industry-leading platform that enables financial institutions and more than 150,000 financial services professionals to comparison shop for income annuities, CANNEX announced today.
"Over the last several years, there has been a steady demand for the availability of Lincoln Benefit Life's products on our exchange from a large segment of the distributors and channels we support," said Gary Baker, who heads CANNEX's U.S. business. "Not only will this make a number of our clients happy, but will provide advisors an even broader choice of income annuities for their clients."
"We are always seeking ways to bring value to our distribution partners," said Larry Dahl, president, Lincoln Benefit Life. "We expect this listing to make it easier for financial professionals to recommend our IncomeReady annuity to their clients, based on immediate online access to our product, pricing and payout information."
With its data and calculations, CANNEX supports a variety of financial service providers in both the institutional and retail markets, including online services, planning and educational tools providers, as well as advisory firms. In the case of income annuities, CANNEX maintains the actuarial calculations of each carrier on its platform so that an advisor can get instantaneous access to client-specific income annuity rates in alignment with the clients' needs. Financial professionals also have access to product illustrations and educational tools that are linked to the specific results generated by the exchange.
For more information about the CANNEX exchange, visit www.cannex.com.
CANNEX Financial Exchanges Ltd. is an independent and privately held company that provides data and information services to the financial services industries in the U.S. and Canada. CANNEX compiles data and calculations about a variety of financial products and makes that information available to financial service providers, including the media, through a central exchange. In the U.S., the Retirement Income Product Exchange (RIPE)TM is a service through which financial advisors can obtain comparative pricing and data about fixed deferred and immediate annuity products from across the industry. The service also includes tools and educational material that helps position guarantees as an integral part of a client's retirement portfolio. The CANNEX SPIA Exchange is a part of the RIPE service.
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer known for its "You're In Good Hands With Allstate®" slogan. Now celebrating its 80th anniversary as an insurer, Allstate is reinventing protection and retirement to help nearly 16 million households insure what they have today and better prepare for tomorrow. Consumers access Allstate insurance products (auto, home, life and retirement) and services through Allstate agencies, independent agencies, and Allstate exclusive financial representatives in the U.S. and Canada, as well as via www.allstate.com and 1-800 Allstate®.
A subsidiary of Allstate, Lincoln Benefit Life Company has helped families obtain affordable insurance protection since 1938. The company offers life and annuity products through more than 61,000 agents in the United States.
Contacts: Madison Communications Patrick Collins, 617-553-0349 Kathleen Gilroy, 978-358-7282
SOURCE CANNEX Financial Exchanges Ltd.