First Symetra Select Max
Highlights
Premium Type
|
Single Premium with Additional
|
---|---|
Max age Qualified
|
85
|
Minimum Contribution
|
$10,000
|
Maximum Contribution
|
$1,000,000
|
Market value adjustment
|
|
Return of premium
|
|
Free withdrawal
|
-100% |
Launch date
|
11/28/2023 |
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, and IRA-Roth |
Brochure
|
Open brochure |
- The reliability of an interest rate with no exposure to market risk.
- The ability to accumulate more through tax-deferred and compounding interest.
- The ability to access a portion or, in certain cases, all of the money in your contract without withdrawal charges.
Stability
Select Max is guaranteed to earn an interest rate regardless of market conditions. You’ll select a time period for your contract (3, 5, or 7 years), and First Symetra will pay a guaranteed interest rate for that entire period. If you remain in your contract at the end of your selected time period, your interest rate can reset annually but will never be less than the Guaranteed Minimum Interest Rate stated in your contract. The GMIR is between 1-3%, declared at issue.
$10,000
You can add purchase payments of $1,000 or more throughout the first year of your contract.
Free annual withdrawals
Accumulated interest earned (minus previous interest withdrawn) can be withdrawn free of charge.
Market Value Adjustments (MVA)
In some circumstances, an MVA may apply when you withdraw money from your contract, because changes in the interest rate environment may alter the amount you withdraw. Adjustments are based on the change in the Bloomberg US Non-Financials BBB Bond Yield Index. The MVA is based on the difference between the initial MVA reference rate on the date Purchase Payment(s) is/are received and the remaining MVA reference rate on the date of your withdrawal. The adjustment to the amount you withdraw will either be a credit (resulting in an increased amount) or a charge (resulting in a decreased amount) paid to you.
Find out if the First Symetra Select Max is the right product for you.
MYGA Interest Rates
Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
---|---|
3 years | 3.35% |
5 years | 3.4% |
7 years | 3.45% |
Riders
No Riders for First Symetra Select Max annuity.
Waivers
Hospital
If you spend 30 consecutive days in a nursing home or hospital, all withdrawal charges and market value adjustments (MVAs) are waived. You have up to 90 days after leaving a facility to request a qualifying distribution.
Nursing Home
If you spend 30 consecutive days in a nursing home or hospital, all withdrawal charges and market value adjustments (MVAs) are waived. You have up to 90 days after leaving a facility to request a qualifying distribution.
Terminal Illness
After the first contract year, withdrawal charges and MVAs are waived if you are diagnosed with a terminal illness.
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