Novinsoft inc. adds Annuity products to AIG Life of Canada’s WAVE 15.0 Illustration System

Novinsoft announced today that the AIG Life of Canada WAVE 15.0 version of the Novinsoft Illustration System Framework now includes Single Premium Immediate Annuities (SPIA). AIG Life now illustrates single and joint-life SPIAs, as well as term certain annuities on both a registered and non-registered basis. These annuity quotations are now available using one simple, easy to use input screen. Advisors can now solve for income based on the single premium, or the single premium required for a desired income. Rate tables are easily and automatically updated daily via the internet.

Normand de la Chevrotiere, Marketing Director for AIG Life, noted, “We’ve received some very favorable reviews on our annuity illustration system, to the effect that it is best in class!”

Neil Menear, President, Novinsoft inc. commented, “We are known as more or less being the standard in Canada for Individual Life and Health Illustration Systems. We’re happy that our recent expansion into Annuity, RRIF/LIF, and Segregated Fund Illustrations has been so well received.”

AIG Life Insurance Company of Canada (AIG Life of Canada) with its head office in Toronto, Ontario, is a member company of American International Group, Inc. (AIG).

American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world.

The most prominent independent ratings agencies continue to recognize AIG Life of Canada in terms of insurer financial strength. For current insurer financial strength ratings, please consult our Internet Web site at www.aiglife.ca.

Novinsoft Inc. is a leading developer of new business and inforce illustration systems, needs analyses, sales concepts, and wealth management sales modules for the Canadian financial services industry.

 Novinsoft can be found on the internet at www.novinsoft.com.