First Symetra Select Max

First Symetra's Select Max offers retirees a sound investment opportunity, ensuring guaranteed growth with stability. With a fixed interest rate, your money is free from market risk and accumulates tax-deferred. This annuity plan allows you to invest a lump sum and add additional payments throughout the year, resulting in compounding growth over time.

Not only does Select Max offer accumulation benefits, but it also provides lifetime income options. You maintain access to your money and can even withdraw portions of it without facing penalties. Additionally, this annuity plan includes a nursing home and hospitalization waiver, providing solid coverage during unexpected events. A dependable choice for a stress-free retirement!

First Symetra National Life Insurance Company of New York
First Symetra Select Max-brochure First Symetra Select Max-brochure

First Symetra Select Max

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Ratings:

  • A.M. Best A
  • S&P A
  • Comdex 74

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About Product

Premium Type
Single Premium with Additional
Fee withdrawal:
Interest only
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, and IRA-Roth
Launch Date
11/28/2023

MYGA Interest Rates

Term
Rate
Annual percentage yield (APY)
earned over the investment term
3 years 3.2%
5 years 3.4%
7 years 3.45%
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: 
  • 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. 
 
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. 

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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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