Fixed annuity review and rates
First Symetra Select 7 ROP
First Symetra Select 7 Fixed Deferred Annuity. Fixed deferred annuities offer a guaranteed interest rate over a fixed period of time—known as the accumulation phase—which enables you to defer taxes on your interest until you make a withdrawal. A deferred annuity also offers the option to convert your contract value into a guaranteed income stream—called the income phase—which can last a few years or a lifetime.
Purchase ages
Purchase ages
- 0–85
- 0–90 (if guaranteed return of purchase payment is selected)
Annual free withdrawals
You can withdraw up to 10% of your contract value each contract year free of surrender charges.
Convert to an income stream
Anytime after the first contract year and before your 101st birthday, you may convert to an income stream by electing to receive annuity payments during the income phase. (Upon your 101st birthday, you must choose to receive a lump sum or start the income phase.) You may apply all or a portion of your contract value to purchase one of our annuity payment options. You may choose to receive annuity payments for a specific number of months or years, or for your life or the joint lives of you and another person. Payments can be made monthly, quarterly or annually.
Annuity payments can have several advantages:
You can withdraw up to 10% of your contract value each contract year free of surrender charges.
Convert to an income stream
Anytime after the first contract year and before your 101st birthday, you may convert to an income stream by electing to receive annuity payments during the income phase. (Upon your 101st birthday, you must choose to receive a lump sum or start the income phase.) You may apply all or a portion of your contract value to purchase one of our annuity payment options. You may choose to receive annuity payments for a specific number of months or years, or for your life or the joint lives of you and another person. Payments can be made monthly, quarterly or annually.
Annuity payments can have several advantages:
- Stability and certainty
You can rely on regular, guaranteed payments for periods ranging from five years to a lifetime. - Inflation protection
You can choose to have your payments increase by specific amounts each year to help offset the impact of anticipated inflation. These increase amounts can range from 0.10% to 6.5% annually, subject to limitations for annuity payments taken to satisfy required minimum distributions. - Tax advantages
For nonqualified contracts, a portion of each annuity payment is a non-taxable return of your purchase payment for federal income tax purposes. - Flexibility
You may have all or only a portion of your contract value applied to the purchase of annuity payments.
Interest Rates
| Guaranteed Years | Surrender Years | Guaranteed Yield | Current Yield |
|---|---|---|---|
| 7 | 7 | 3.3% | 3.3% |
| 7 | 7 | 3.6% | 3.6% |
| 7 | 7 | 3.75% | 3.75% |
| 7 | 7 | 3.75% | 3.75% |
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First Symetra National Life Insurance Company of New York
Founded:
1990
A.M. Best:
A
S&P:
A
Brochure
Free withdrawal
10%
Types of funds
Non-Qualified, IRA, IRA-Roth, and Inherited IRA