4.8
based on complex data
Annuity Educator Rating
Annuity review
First Symetra Select Pro with ROP
First Symetra National Life Insurance Company of New York, a subsidiary of Symetra Life Insurance Company, was created to serve the life insurance and annuity needs of residents and businesses within the state of New York. Established in 1990, the company specializes in tailoring product offerings to the exclusive New York market, supplying investment tools like guaranteed income annuities, life insurance policies, stop-loss insurance, and group supplemental health and life insurance plans. Consistently rated with an “A” from A.M. Best, First Symetra NY has become known for its dependability in fulfilling its duties to clients.
First Symetra Select Pro with ROP
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About Product
Premium Type
Single Premium with Additional
Fee withdrawal:
15%
Market Value Adjustment
No
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
90
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, and IRA-Roth
Launch Date
01/01/2025
Symetra Select Pro is a modified single-premium fixed deferred annuity. Select Pro 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.
Minimum purchase payment
- $10,000
- You can add purchase payments of $1,000 or more throughout the first year of your contract. Payments are accepted in a lump sum or monthly payments up to $1mil without home office approval.
Free annual withdrawals
Withdrawals of up to 15% of the contract value per contract year are free of withdrawal charges.
Death benefit
When you purchase your annuity, you’ll also name primary and contingent beneficiaries for your contract. Upon your death, your beneficiaries will receive the greater of:
Withdrawals of up to 15% of the contract value per contract year are free of withdrawal charges.
Death benefit
When you purchase your annuity, you’ll also name primary and contingent beneficiaries for your contract. Upon your death, your beneficiaries will receive the greater of:
- The contract value (which does not reflect any current withdrawal charges); or
- The guaranteed minimum value.
Additional guarantees for more control
You also have the option to select a guaranteed return of purchase payment (GROPP), which ensures you will never receive less than what you contributed to your annuity, minus any prior withdrawals.
You also have the option to select a guaranteed return of purchase payment (GROPP), which ensures you will never receive less than what you contributed to your annuity, minus any prior withdrawals.
Riders
No Riders for First Symetra Select Pro with ROP annuity.
Waivers
Hospital
If you spend 30 consecutive days in a nursing home or hospital, all withdrawal charges 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 are waived. You have up to 90 days after leaving a facility to request a qualifying distribution.
Terminal Illness
After the first year, withdrawal charges are waived if you are diagnosed with a terminal illness.
Company Founded: 1990
Excellent Rated
Company
Company Ratings
4.5
- A.M. Best A
- S&P A
- Comdex 74
Assets: $3,923,269,245
New York
