First Symetra Select Max

First Symetra Select Max is a modified single-premium fixed deferred annuity. Select Max Fixed Deferred Annuity can help serve as a foundation of stability for your retirement portfolio by providing both accumulation and lifetime income options, and also providing for loved ones. Features include: 

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. 

 

Minimum purchase payment
$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Accumulated interest earned (minus previous interest withdrawn) can be withdrawn free of charge.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.