Symetra Edge Elite 7
Symetra Edge Elite 7
About Product
With the option to allocate across different indexed accounts, each with multiple crediting options, Edge Elite provides you with the flexibility to choose the crediting method available to you—all with the peace of mind of a zero floor, so your retirement savings never lose ground.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.15%
Fixed
|
| 1-Year Nasdaq-100 PTP Cap |
Point to Point
Annual
|
9.25%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.75%
Cap
|
| 1-Year JP Morgan ETF Efficiente 5 PTP Participation Rate with Cap |
Point to Point
Annual
|
130%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year Franklin Large Cap Value 15% ER PTP Cap |
Point to Point
Annual
|
13%
Cap
|
| 1-Year Nasdaq-100 Performance Trigger |
Performance Triggered
Annual
|
7.5%
Performance triggered
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
7%
Performance triggered
|
| 1-Year JP Morgan ETF Efficiente 5 Performance Trigger |
Performance Triggered
Annual
|
8.5%
Performance triggered
|
| 1-Year Franklin Large Cap Value 15% ER Performance Trigger |
Performance Triggered
Annual
|
8.5%
Performance triggered
|
| 1-Year Fixed Account |
Fixed
|
4.3%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
50%
Participation
|
| 1-Year Franklin Large Cap Value 15% ER PTP Cap |
Point to Point
Annual
|
14%
Cap
|
| 1-Year JP Morgan ETF Efficiente 5 PTP Participation Rate with Cap |
Point to Point
Annual
|
145%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.25%
Cap
|
| 1-Year Nasdaq-100 PTP Cap |
Point to Point
Annual
|
9.75%
Cap
|
| 1-Year Nasdaq-100 Performance Trigger |
Performance Triggered
Annual
|
7.75%
Performance triggered
|
| 1-Year S&P 500 Performance Trigger |
Performance Triggered
Annual
|
7.25%
Performance triggered
|
| 1-Year Franklin Large Cap Value 15% ER Performance Trigger |
Performance Triggered
Annual
|
9%
Performance triggered
|
| 1-Year JP Morgan ETF Efficiente 5 Performance Trigger |
Performance Triggered
Annual
|
9%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% |
Riders
No Riders for Symetra Edge Elite 7 annuity.
Waivers
Hospital
Unavailable in states: CA
If you are confined to a nursing home and/or hospital for at least 30 consecutive days, Symetra will waive withdrawal charges and applicable Market Value Adjustment (MVA). 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
If you are confined to a nursing home and/or hospital for at least 30 consecutive days, Symetra will waive withdrawal charges and applicable Market Value Adjustment (MVA). 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.
Terminal Illness
Unavailable in states: CA
If you 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 the first contract year, you can convert all or part of your contract value into an income stream that pays you over a specific period of time or for your lifetime.
RMD
The Withdrawal Charge and MVA do not apply to withdrawals taken to satisfy required minimum distributions based on the Contract Value.
Premium Notes
Minimum purchase payment: $25,000
Purchase age: 0-85
Product types: Nonqualified, IRA (including Custodial IRA), Roth IRA
Interest term length: 1 year
You can choose one or more accounts at issue and transfer between accounts at the end of the account’s interest term. No minimum transfer amount required.
Withdrawal Provisions
Withdrawal charge schedule The first five or seven years of your contract are called the “withdrawal charge period.” During this time, if you withdraw more than the 15% free withdrawal amount, you will pay a withdrawal charge on the excess amount, unless a waiver applies. The withdrawal charge decreases during your contract term. Free annual withdrawals You can withdraw up to 15% of your contract value each contract year without paying the withdrawal charge or market value adjustment (MVA). If you withdraw more than 15% during the withdrawal charge period, a withdrawal charge and MVA may apply to the amount over 15%. Market value adjustments If you withdraw money from your contract during the withdrawal charge period, a market value adjustment (MVA) may apply. The MVA does not apply to the 15% free withdrawal feature. The adjustment will be either positive (a credit) or negative (a charge)—meaning the amount you receive will increase or decrease. The adjustment is based on the change in the Bloomberg U.S. Corporate Bond Index yield between the contract effective date and the day the withdrawal is taken. After the withdrawal charge period, the MVA no longer applies. It may apply upon death or annuitization, but only if it results in a cash surrender value that is higher than the contract value that would otherwise be paid. A negative adjustment will never result in receiving less than the guaranteed minimum value. Please review your Contract Summary and/or Statement of Benefit Information at the time of purchase for specific examples of how withdrawal charges and MVAs may affect contract and cash surrender values.
- A.M. Best A
- S&P A
- Moody's A1
- Comdex 81
