
Symetra is a well-established insurance company with a long history of providing financial security to individuals and families. Founded in 1957, Symetra has been serving the insurance needs of its customers for over 60 years.
Symetra offers a range of insurance products, including life insurance, disability insurance, and annuities. Their life insurance policies provide coverage for individuals and families, with options for term life, whole life, and universal life insurance.
One of the key benefits of Symetra insurance is its financial stability. Symetra is a subsidiary of Sumitomo Life Insurance Company, a Japanese insurance company with over 100 years of experience. This partnership provides Symetra with a strong financial foundation and access to global resources.
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Products and Features
Symetra offers a range of life insurance products to suit different needs.
Term life insurance is one of the options available from Symetra, providing coverage for a specified period of time.
Universal life insurance is another product offered by Symetra, allowing policyholders to adjust their coverage and premiums as needed.
Symetra also offers single premium life insurance, a type of policy that can provide a lump sum payout to beneficiaries.
Here are the life insurance products offered by Symetra:
- Term life insurance
- Universal life insurance
- Single premium life insurance
Annuity Details

Symetra's fixed annuities have guaranteed interest rate periods of three years, five years, or seven years. Some annuities also have a market value adjustment (MVA) feature that affects withdrawals.
The Select Max fixed annuity has a $10,000 minimum initial premium, while the Select 3/5/7 fixed annuity has a $25,000 minimum initial premium for the three-year and five-year terms. The Custom 5/7 annuity has a $10,000 minimum initial premium for the seven-year term.
The Select Pro fixed annuity features an optional return of premium guarantee, which ensures owners receive their initial purchase payment, less any withdrawals. The Select 3/5/7 fixed annuity also includes this guarantee, but owners can access a higher interest rate if they don't opt for it.
Fixed Annuities
Fixed Annuities are a type of insurance product that can provide a steady income stream for a fixed period of time. They can be a great option for those looking for predictable returns on their investment.

Symetra offers four fixed annuities, each with its own unique features and benefits. The Select Max and Select Pro are two of the most popular options, both with a minimum initial premium of $10,000.
The Select Max has a market value adjustment (MVA) feature that can increase or decrease the amount withdrawn depending on changes in interest rates. This feature is designed to help owners avoid taking out more than the accumulated interest in the contract.
The Select Pro, on the other hand, features an optional return of premium guarantee, which ensures that owners will receive their initial purchase payment, less any withdrawals, if they surrender their annuity prematurely.
Here are some key features of Symetra's fixed annuities:
Some fixed annuities, like the Select 3/5/7, allow immediate free withdrawals of up to 10% of the contract value each year. This can be a great feature for those who need access to their money quickly.
Registered Index-Linked Annuity

A Registered Index-Linked Annuity (RILA) is a type of annuity that ties its growth to an index, but it does carry some risk of loss of principal.
You can choose from different indexes to influence your interest crediting, just like with the Symetra Trek Plus, which offers five options.
The Return Lock feature is a valuable tool that allows you to lock in the index value during the interest term, potentially preserving interest earned.
This can be a great way to minimize risk and ensure some level of protection for your investment.
Income Annuities
Income annuities can provide a predictable income stream for life, making it easier to budget and plan for the future.
Symetra offers two income annuities: Advantage Income and Freedom Income. Advantage Income is a single premium immediate annuity (SPIA) with a $10,000 minimum premium.
Advantage Income includes an Advance Access feature that allows owners to withdraw up to 30% of their future payments as often as every 36 months following the first three years of the contract.
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Freedom Income, on the other hand, is a deferred income annuity with a $10,000 minimum premium. This allows owners to choose how long they want to defer payments, up to 45 years or until they turn 90, whichever comes first.
Annuity owners can opt for annual payment increases of up to 6.5% to reduce the effects of inflation with Freedom Income.
Here are the key features of Symetra's income annuities:
Does Build Cash Value?
Symetra's permanent life insurance policies build cash value, allowing you to withdraw or borrow from it while you're still living. This can be a great way to access funds when you need them.
With a variable universal policy, you can use the cash value to change the amount and frequency of your premiums, and even increase the death benefit. This flexibility can be a huge advantage for those who want to adjust their policy as their needs change.
The cash value of Symetra's policies can be borrowed against, but it's essential to understand that borrowing from your policy's cash value can reduce the death benefit.
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Financial Information

Symetra is a leading provider of life insurance and employee benefits products. They offer a range of financial products and services to help individuals and businesses manage risk and achieve their financial goals.
Their financial products include life insurance, disability income insurance, and long-term care insurance. These products can provide a financial safety net for individuals and their loved ones in the event of unexpected events.
Symetra's financial strength is backed by their parent company, Sumitomo Life Insurance Company, which has a long history of stability and security.
Credit Ratings
Credit ratings are a crucial aspect of evaluating an annuity provider's financial stability. An independent credit rating agency like AM Best issues these ratings, which can indicate how likely the provider is to meet their end of an annuity contract.
An annuity provider's credit rating can be a strong indicator of their financial strength and stability. For example, Symetra has a credit rating of A from AM Best, which suggests a strong financial position.
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Symetra's credit ratings from other agencies are also worth noting. Fitch has withdrawn their rating, and Standard & Poor's (S&P) has given Symetra an A rating.
Here are Symetra's credit ratings from various agencies:
If you're considering purchasing an annuity, it's essential to research the provider's credit ratings and financial stability. This can help you make an informed decision and ensure your investment is secure.
What's the Cost?
When evaluating the cost of life insurance, it's essential to consider your age and health status. Symetra offers more affordable term life insurance policies compared to other insurance companies.
For young and healthy adults, term life insurance tends to be cheaper. For instance, a 30-year-old female can expect to pay around $14.38 per month for term life insurance.
As you get older, premiums increase. A 40-year-old female, for example, would pay about $22.69 per month for term life insurance.
The cost of term life insurance varies significantly based on age and gender. Here's a breakdown of Symetra's term life insurance premiums for different age groups:
These figures illustrate the importance of considering your age and health status when evaluating life insurance costs.
The Bottom Line

Symetra offers a maximum death benefit of up to $5 million for its no-exam policies.
This is one of the highest coverage limits for no-exam policies out there.
Symetra's no-exam policies have same-day approvals for eligible applicants, which is perfect for people who need coverage quickly.
It's a big advantage to get approved on the same day, especially if you're looking for a quick solution.
Symetra's product variety is a bit limited outside of no-exam coverage, and it doesn't sell whole life or regular universal life policies.
You may want to consider another company if you're looking for a more feature-rich permanent policy and are willing to take a medical exam.
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Customer Experience
Symetra has a strong track record of customer satisfaction, with a low complaint index of 0.337 over three years, significantly lower than the benchmark index of 1.0.
This suggests that Symetra receives far fewer complaints than expected for its size, indicating a high level of customer satisfaction.
Life insurance premiums do get more expensive with age, so it's worth noting that Symetra's pricing for older adults wasn't available for sampling, but you can contact an agent to get a quote.
Why Join a Company?

Joining a company is a personal decision that requires careful consideration. It's a choice that can have a significant impact on your career and overall well-being.
Companies that value their employees' opinions and experiences, such as Symetra Life Insurance Company, often create a positive work environment. This is evident from employee comments on the Trust Index survey.
A great workplace is one that makes employees feel valued and respected. Symetra Life Insurance Company employees describe their workplace as great, with words drawn from employee comments on the Trust Index survey.
To determine if a company is a good fit for you, consider the values and culture of the organization. For instance, Symetra Life Insurance Company employees say what makes their workplace great.
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Customer Feedback
Symetra receives far fewer complaints than expected for its size, with a three-year NAIC complaint index of 0.337, which is lower than the benchmark index of 1.0.
This suggests that Symetra is doing a great job of keeping its customers happy and resolving issues promptly.
Life insurance premiums with Symetra do get more expensive with age, even for people in good overall health, but specific rates for older adults couldn't be collected.
To get an accurate quote, you'll need to contact an agent directly.
Is Good at Paying Claims?

Symetra has an A rating from AM Best, which means it has an excellent ability to meet policyholder obligations and pay claims.
This is a great sign that Symetra is reliable and trustworthy.
Symetra also has a good NAIC index, showing that customers have made few complaints about claims or any other Symetra services.
In other words, Symetra's customers are generally happy with their experience.
After submitting a claim, you should receive your payout within three business days.
Product Specifics
Symetra offers two income annuities: Advantage Income and Freedom Income.
Advantage Income is a single premium immediate annuity with a $10,000 minimum premium. This product includes an Advance Access feature that allows owners to withdraw up to 30% of their future payments as often as every 36 months following the first three years of the contract. Freedom Income, on the other hand, is a deferred income annuity with a $10,000 minimum premium.
Freedom Income owners can choose to defer payments for up to 45 years or until they turn 90, whichever comes first. Annuity owners can also opt for annual payment increases of up to 6.5% to reduce the effects of inflation.
Symetra's income annuities offer flexible payment options, with Advantage Income providing immediate payments and Freedom Income offering deferred payments.
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Indexed Annuities

Indexed annuities from Symetra are a great option for those looking for a low-risk investment. They're protected from market losses with an interest rate floor of 0%.
These annuities have no downside risk and cannot lose the principal investment, which is a huge relief for investors. The Income Edge annuity, for example, comes with a guaranteed lifetime withdrawal benefit.
The Edge Elite annuity is highly customizable, offering 13 indexed account options to choose from. This means you can tailor your investment to suit your needs and preferences.
The Trek Plus annuity has a six-year surrender charge schedule and a $25,000 minimum premium. This is a bit higher than some other annuities, but it may be worth it for the peace of mind that comes with knowing your investment is secure.
Here are some key features of Symetra's indexed annuities:
- The Income Edge annuity has a seven-year surrender charge schedule and a $10,000 minimum premium.
- The Edge Elite annuity has two surrender charge schedules – five years and seven years – and a minimum premium of $25,000.
- The Trek Plus annuity has a six-year surrender charge schedule and a $25,000 minimum premium.
Requires Medical Exam?
Symetra offers two no-medical-exam life insurance policies: SwiftTerm and SwiftProtector. Eligible healthy applicants can get coverage online on the same day they apply.
Some applicants may be subject to additional accelerated health underwriting, which can take one to three days for approval.
Full underwriting, which takes about 30 days, is another option that may be considered for some applicants.
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Caul Universal

The Caul Universal life insurance policy from Symetra offers flexible premium payments and death benefit options. This means you can choose how much to pay in premiums and how much coverage you want.
You can pay premiums up to age 120, and coverage lasts for your entire lifetime. Symetra's Caul Universal policy also allows you to access cash value, which can be used as a financial cushion in the future.
Here are some key features of the Caul Universal policy:
- Flexible premium payments and death benefit options.
- Federal income tax is deferred while cash value grows.
- The potential to use cash value as a future financial cushion.
- Advance access to the death benefit for a chronic or terminal illness.
This policy is available for issue ages 15 days to 85 years old, giving you a wide range of options for coverage.
Pros
Symetra offers a range of life insurance policies with no-medical-exam options, including SwiftTerm and SwiftProtector, which can provide coverage with same-day approval for eligible applicants.
Symetra's SwiftTerm and SwiftProtector policies offer high coverage limits, up to $5 million, and can be applied for and approved on the same day. This is a convenient option for those who need life insurance quickly.
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Symetra's no-exam policies can be a good choice for those who are healthy and want to avoid the hassle of a medical exam. However, some applicants may be subject to additional underwriting, which can take a few days for approval.
Symetra's annuities come with various features, including optional withdrawal benefits, which can enhance liquidity. This can be a valuable feature for those who need access to their money in case of an emergency.
Symetra's annuities are available in 49 states and D.C., making it a widely available option. This can be a good choice for those who want to purchase an annuity from a reputable company.
Symetra's financial stability and customer satisfaction ratings are strong, according to industry metrics. This can provide peace of mind for those who are considering purchasing a Symetra annuity.
Here are some of the key features of Symetra's annuities:
Symetra's life insurance policies, including SwiftTerm and SwiftProtector, offer same-day approval decisions for eligible applicants. This can be a convenient option for those who need life insurance quickly.
Symetra's term policies are also affordable, with lower premiums quoted compared to many other insurers. This can be a good choice for those who want to purchase life insurance without breaking the bank.
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Accumulator Indexed Universal

The Accumulator Indexed Universal from Symetra is a flexible premium universal life insurance product with index-linked interest options. This means you can earn interest credits based on the performance of various market indexes.
Nine index crediting strategies are available, including the JPMorgan ETF Efficiente 5 Index, which is licensed exclusively to Symetra. These strategies lock in any interest earnings and help protect against losses in negative markets.
The policy value can be accessed through flexible, tax-free withdrawals and standard and participating loans. A persistency bonus is guaranteed by Symetra for maintaining the policy as planned.
Coverage is available for the insured's lifetime, with premiums payable up to age 120. Three death benefit options are available: Option A Level Specified Amount, Option B Specified Amount + Policy Value, and Option C Specified Amount + Return of Premiums.
Here are the index crediting strategies available with the Accumulator Indexed Universal:
- JPMorgan ETF Efficiente 5 Index
- Volatility control option
(other 7 strategies available)
Ul-G Universal

The Ul-G Universal is a flexible premium universal life insurance policy that offers guaranteed coverage and advance death benefit access in the event of a chronic illness. This policy is designed to provide peace of mind for those who want to ensure their loved ones are protected.
One of the key benefits of the Ul-G Universal is its Lapse Protection Benefit rider, which prevents policy lapses as long as premiums are paid exactly as illustrated. This ensures that coverage remains in place, even if you're unable to pay premiums due to unforeseen circumstances.
The Ul-G Universal also offers guaranteed death benefit protection, which means that your loved ones will receive a guaranteed payout in the event of your passing. This can provide a sense of security and financial stability for those who depend on you.
The policy's coverage period is customizable, allowing you to choose a specific time period or the insured's lifetime. This flexibility can be beneficial for those who want to ensure coverage for a specific period or for their entire lifetime.
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The minimum policy size for the Ul-G Universal is $100,000, making it a suitable option for those who want to purchase a larger policy. This can be a good option for those who want to ensure a significant payout for their loved ones.
Here are the key features of the Ul-G Universal:
- Lapse Protection Benefit rider to prevent policy lapses
- Guaranteed death benefit protection
- Accelerated death benefit riders available
- Customizable coverage period
- Minimum policy size: $100,000
The Ul-G Universal also has a 9-year decreasing surrender charge period, which means that the surrender charge will decrease over time. This can be beneficial for those who want to avoid paying high surrender charges in the early years of the policy.
Comparison and Evaluation
Symetra offers a range of annuity products, including Select Max and Select Pro, with varying interest rates and guarantee periods. The most up-to-date rates for these products can be found on their website.
One of the key factors to consider when choosing an annuity provider is their credit rating. Symetra has received an A rating from AM Best, indicating their financial strength and stability. This is a crucial factor to consider, as it can impact their ability to meet their end of an annuity contract.
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In terms of comparison, Symetra's credit rating is on par with other top-rated life insurance companies, such as Nationwide and Banner. However, their prices for term policies are slightly lower, at $27.98 compared to $31.50 for Nationwide.
Here's a brief comparison of Symetra's Select Max and Select Pro products:
Overall, Symetra's annuity products offer competitive interest rates and guarantee periods, making them a viable option for those considering an annuity purchase.
Compare Annuity Rates
When comparing annuity rates, it's essential to consider the different products offered by Symetra. Symetra's fixed annuity products, such as Select Max, offer competitive rates ranging from 3.60% to 4.85%.
One of the key factors to consider when choosing an annuity is the guarantee period. Symetra's Select Max product offers a 7-year guarantee period, which can provide peace of mind for annuity owners.
The surrender period is another critical aspect to consider. Symetra's Select Max product has a 7-year surrender period, which means that if you withdraw your money before the end of the guarantee period, you may face penalties.
Symetra's annuity products are also backed by a strong financial institution. The company has an AM Best rating, which indicates its financial stability and ability to pay claims.
Here's a comparison of some of Symetra's fixed annuity products:
This table provides a quick comparison of some of Symetra's fixed annuity products, including their rates, guarantee periods, surrender periods, and AM Best ratings.
What Does It Compare To Other Companies?
Symetra compares favorably to other life insurance companies in several key areas.
Their AM Best rating is A, which is a strong indicator of their financial stability. Nationwide and Banner also have A+ ratings, but Symetra's rating is still respectable.
In terms of complaints, Symetra has a NAIC complaint index of 0.337, which is much better than expected for a company of its size. Nationwide and Banner also have complaint indices that are much better than expected.
Symetra's term policies are priced competitively, with a quote of $27.98. Nationwide's term policies are slightly more expensive, at $31.50, while Banner's policies are similarly priced to Symetra's.
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Here's a comparison of Symetra, Nationwide, and Banner in key areas:
Overall, Symetra's strong financial stability, competitive pricing, and wide range of policy options make it a solid choice for those in the market for life insurance.
How to Buy
To buy life insurance from Symetra, you'll need to contact an agent. They'll help you get started with the application process.
If you're applying for a policy that offers instant approvals, such as SwiftTerm or SwiftProtector, the agent will guide you through the online application. You might even be able to get coverage the same day without taking a medical exam.
For all other policies, the agent will submit the application for you.
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Frequently Asked Questions
What does Symetra company do?
Symetra provides annuities, life insurance, and benefits products to individuals and businesses across the US. Our goal is to help people achieve financial freedom through our insurance and benefits solutions.
Is Symetra a good annuity?
Symetra has a relatively positive reputation for customer satisfaction, with few complaints filed with state insurance commissions. However, individual experiences may vary, and it's worth exploring more about their annuity products and services.
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