8-K

                      SECURITIES AND EXCHANGE COMMISSION

                            WASHINGTON, D.C.  20549



                                  __________



                                   FORM 8-K


                                CURRENT REPORT



                    Pursuant to Section 13 or 15(d) of the

                        Securities Exchange Act of 1934



      Date of Report (Date of earliest event reported) November 14, 1996


                                SUNAMERICA INC.
              (Exact name of registrant as specified in charter)


          Maryland                   1-4618            86-0176061
(State or other jurisdiction         (Commission       (IRS Employer
  of incorporation)                  File Number)      Identification No.)


           1 SunAmerica Center, Los Angeles, California  90067-6022
            (Address of principal executive offices)     (Zip Code)

       Registrant's telephone number, including area code (310) 772-6000

ITEM 5.        Other Events.

               See Exhibit 99 to this Form 8-K

ITEM 7.        Financial Statements, Pro Forma Financial Information and
               Exhibits.


         (c) Exhibits

         Exhibit 99   SunAmerica Inc. Press Release issued November 14, 1996





                                  SIGNATURES



         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.



                                       SUNAMERICA INC.



Date: November 14, 1996

                                       By: /s/ Susan L. Harris
                                          ----------------------------
                                             Susan L. Harris
                                             Senior Vice President and
                                             Secretary

EX-99

                                                                    Exhibit 99

                    SUNAMERICA SIGNS PRELIMINARY AGREEMENT
              TO ACQUIRE JOHN ALDEN'S $5 BILLION ANNUITY BUSINESS


LOS ANGELES -- November 14, 1996 -- SunAmerica Inc. (NYSE: SAI) today
announced that it has signed an exclusive letter of intent regarding the
acquisition of John Alden Financial Corporation's annuity operations by
SunAmerica Inc.'s wholly owned subsidiary, SunAmerica Life Insurance Company.
The intended transaction would include a total of approximately $5 billion of
annuity reserves, including about $3.8 billion of reserves from John Alden
Life Insurance Company under a reinsurance contract and the purchase of John
Alden's New York life insurance company, John Alden Life Insurance Company of
New York, which has approximately $1.2 billion of annuity reserves.

The transaction is subject to the negotiation and execution of definitive
contracts that will include customary closing conditions, including all
required regulatory approvals.

John Alden Financial Corporation is an insurance holding company based in
Miami, Florida that, through its subsidiaries, is principally engaged in
providing group life and health insurance and managed care services.

SunAmerica Inc. is a diversified financial services company specializing in
retirement savings and investment products and services.  At September 30,
1996, it held approximately $37 billion of assets, including $24 billion on
its balance sheet, more than $2 billion managed in mutual funds and private
accounts, and $11 billion under custody in retirement trust accounts.
SunAmerica Life Insurance Company is rated "A+" (Superior) by A.M. Best, "AA-"
(Excellent) by Standard & Poor's, "AA" (Very High) by Duff & Phelps, and "A2"
(Good) by Moody's.