NU Online News Service, March 11, 3:30 p.m. – American Enterprise Life Insurance Company, Minneapolis, an affiliate of the American Express Company , has started selling a new annuity, the American Express FlexChoice Variable Annuity, through banks and other financial institutions.

The annuity offers 37 fixed and variable investment options, and a choice between a 0-year or a 4-year withdrawal charge schedule.

American Enterprise designed the product for baby boomers who need a flexible retirement planning product, the company says.