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Annuity review

Symetra Edge Elite 5

The Symetra Edge Elite 5 offers a guaranteed income stream for retirement which is perfect for peace of mind. Its range of growth potentials is very inclusive, ensuring a comfortable and secure future for anyone.

What's more, this annuity stands out with its no annual fee feature. It also values transparency, clearly outlining all the details in the brochure. This product certainly promises a bright and worry-free retirement period.

Symetra Edge Elite 5

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Investment

Your Gender

Your Age

Retire At

No agent will call you

About Product

Type

Fixed Index

Purpose

Accumulation

Term

5 Years

Surrender schedule

Fee withdrawal:

10%

Market Value Adjustment

Yes

Return Of Premium

Yes

Minimum Contribution

$25,000

Maximum Contribution

$1,000,000

Max Age Qualified

Types Of Funds

Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, 1035 Exchange, and Inherited IRA

Launch Date

03/31/2021

Symetra Edge Elite is a single-premium fixed indexed annuity. Edge Elite offers potential to take your retirement to a higher level. Growth potential based on the JPMorgan ETF Efficiente 5 Index, the Putnam Dynamic Low Volatility Excess Return Index and the S&P 500 Index.
Our enhanced accounts offer higher participation rates in exchange for an annual charge. With higher participation rates, your accounts have potential to grow at a higher rate than our other account options.

Guardrail
Enhanced accounts are available for renewal or transfer as long as your contract value is greater than 97% of your purchase payment (less any withdrawals). This helps protect your contract value from declining due to the charge if the index does not experience positive growth.
If the contract value drops below the 97% threshold, any amount allocated to these accounts will be automatically transferred to the traditional indexed account with the same index, but without a charge. If the traditional indexed account is not available, the amount will be transferred to the fixed account. Once the contract value returns to an amount above the 97% threshold, the enhanced accounts will again be available for allocations at the end of the interest term after any interest is credited upon request.

Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name	Type	Rates
1-Year Fixed Account	Fixed	4.1% Fixed
1-Year JP Morgan ETF Efficiente 5 PTP Cap	Point to Point Annual	16% Cap
2-Year Putnam Dynamic Low Volatility ER PTP Enhanced Participation Rate Guaranteed for Term	Point to Point Biennial	325% Participation
1-Year Putnam Dynamic Low Volatility ER PTP Enhanced Participation Rate Guaranteed for Term	Point to Point Annual	215% Participation
2-Year JP Morgan ETF Efficiente 5 PTP Enhanced Participation Rate Guaranteed for Term	Point to Point Biennial	260% Participation
1-Year JP Morgan ETF Efficiente 5 PTP Enhanced Participation Rate Guaranteed for Term	Point to Point Annual	170% Participation
2-Year JP Morgan ETF Efficiente 5 PTP Participation Rate	Point to Point Biennial	215% Participation
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	50% Participation
1-Year JP Morgan ETF Efficiente 5 PTP Participation Rate	Point to Point Annual	140% Participation
2-Year Putnam Dynamic Low Volatility ER PTP Participation Rate	Point to Point Biennial	265% Participation
1-Year Putnam Dynamic Low Volatility ER PTP Participation Rate	Point to Point Annual	180% Participation
1-Year S&P 500 PTP Cap	Point to Point Annual	9% Cap
1-Year Putnam Dynamic Low Volatility ER PTP Cap	Point to Point Annual	16% Cap
2-Year S&P 500 PTP Participation Rate	Point to Point Biennial	65% Participation
1-Year Fixed Account	Fixed	4.25% Fixed
2-Year JP Morgan ETF Efficiente 5 PTP Participation Rate	Point to Point Biennial	235% Participation
2-Year Putnam Dynamic Low Volatility ER PTP Enhanced Participation Rate Guaranteed for Term	Point to Point Biennial	345% Participation
1-Year S&P 500 PTP Cap	Point to Point Annual	9.5% Cap
1-Year Putnam Dynamic Low Volatility ER PTP Enhanced Participation Rate Guaranteed for Term	Point to Point Annual	235% Participation
2-Year S&P 500 PTP Participation Rate	Point to Point Biennial	75% Participation
2-Year JP Morgan ETF Efficiente 5 PTP Enhanced Participation Rate Guaranteed for Term	Point to Point Biennial	280% Participation
1-Year JP Morgan ETF Efficiente 5 PTP Enhanced Participation Rate Guaranteed for Term	Point to Point Annual	185% Participation
1-Year Putnam Dynamic Low Volatility ER PTP Cap	Point to Point Annual	18% Cap
1-Year JP Morgan ETF Efficiente 5 PTP Participation Rate	Point to Point Annual	155% Participation
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	55% Participation
1-Year JP Morgan ETF Efficiente 5 PTP Cap	Point to Point Annual	18% Cap
1-Year Putnam Dynamic Low Volatility ER PTP Participation Rate	Point to Point Annual	200% Participation
2-Year Putnam Dynamic Low Volatility ER PTP Participation Rate	Point to Point Biennial	290% Participation
1-Year Nasdaq-100 PTP Cap	Point to Point Annual	9.75% Cap
1-Year S&P 500 Performance Trigger	Performance Triggered Annual	7.5% Performance triggered
1-Year Nasdaq-100 Performance Trigger	Performance Triggered Annual	8.25% Performance triggered
1-Year Nasdaq-100 PTP Cap	Point to Point Annual	10.25% Cap
1-Year S&P 500 Performance Trigger	Performance Triggered Annual	7.75% Performance triggered
1-Year Nasdaq-100 Performance Trigger	Performance Triggered Annual	8.5% Performance triggered

Surrender schedule

Year	1	2	3	4	5
Penalty	9%	9%	8%	7%	6%

Hypothetical Projection

Comparison against S&P 500 using current rates

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Investment Amount

Riders

No Riders for Symetra Edge Elite 5 annuity.

Waivers

Hospital

Unavailable in states: CA

If clients are confined to a nursing home and/or hospital for at least 30 consecutive days, Symetra will waive withdrawal charges and applicable MVAs. This waiver must be requested during confinement or within 90 days after confinement ends. If confined on the contract issue date, a 12-month exclusion period applies.

Nursing Home

Unavailable in states: CA

Terminal Illness

Unavailable in states: CA

If clients are diagnosed with a terminal illness after the first contract year, Symetra will waive withdrawal charges and applicable MVAs. Additional requirements are explained in the contract.

Annuitization

Anytime after your first contract year and before your 96th birthday, you may convert your contract value to an income stream that pays you over a specific period of time or for your lifetime.

Premium Notes

Note:
Inherited IRA’s: the Beneficiary must either be a Spouse or an EDB (Eligible Designated Beneficiary).

Withdrawal Provisions

Free Annual withdrawalsClients can withdraw up to 10% of their contract value each contract year without paying withdrawal charges or applicable market value adjustments (MVAs). If they withdraw more than 10% during the withdrawal charge period, a withdrawal charge and MVA may apply on the amount over 10%. Any amounts withdrawn from an indexed account before the end of the interest term will not receive interest for that term (since indexed interest is only credited at the end of each interest term).

Company Founded: 1957

Excellent Rated Company

Symetra Life Insurance Company

Company Ratings

4.4