Symetra Life Insurance Company
4.9
based on complex data
Annuity Educator Rating
Annuity review

Symetra Income Edge

The Symetra Income Edge is an excellent choice for those planning for a comforting retirement. Known for guaranteed lifetime income, it provides peace of mind as you'll never run out of money. It's a trusty safety net for your golden years!

On top of the reliable income, Symetra's annuity offers flexibility with access to cash when needed. Plus, protection against market volatility means your retirement income is secure. Experience a worry-free retirement with Symetra Income Edge!

Symetra Income Edge-brochure Symetra Income Edge-brochure

Symetra Income Edge

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About Product

Type
Fixed Index
Purpose
Lifetime Income
Term
7 Years
Surrender schedule
8%
8%
7%
7%
6%
5%
4%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$1,500,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and Inherited IRA
Launch Date
04/04/2016
The Symetra Income Edge is a single premium fixed indexed annuity with a 7 surrender charge period and a market value adjustment period. The Symetra Income Edge also offers a guaranteed lifetime withdrawal benefits (GLWBs) that, like annuitization, offer payments that can last a lifetime. Unlike annuitization, these features still allow access to your remaining contract value, if needed. The Symetra Income Edge can help protect your money and provide withdrawals for life, allowing you to focus on what matters—living the lifestyle you want in retirement. 

Before lifetime withdrawals begin, your Maximum Withdrawal Amount is guaranteed to grow each year for up to 10 years after issue. When you’re ready to begin lifetime withdrawals, you have two options: 
  1. Level withdrawals: A guaranteed, level amount for life.
  2. Index-linked withdrawals: Guaranteed withdrawals for life with potential for increases each year.
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
3.65% Fixed
1-Year JPMorgan ETF Efficient 5 PTP Cap
Point to Point
Annual
15.75% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
6.25% Cap
1-Year Fixed Account
Fixed
3.8% Fixed
1-Year JPMorgan ETF Efficient 5 PTP Cap
Point to Point
Annual
16% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
6.5% Cap

Surrender schedule

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

Hypothetical Projection

Comparison against S&P 500 using current rates
indexed chart
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Riders

Name Inbuilt Fee
Symetra GLWB Rider Level option Yes 1.20% annually
Symetra GLWB Rider with Increasing option Yes 1.20% annually

Waivers

Hospital

We’ll waive your surrender charges and any MVAs if you’re confined to a nursing home or hospital for at least 30 consecutive days and for up to 90 days after your release. Additional requirements are explained in the annuity contract.

Nursing Home

We’ll waive your surrender charges and any MVAs if you’re confined to a nursing home or hospital for at least 30 consecutive days and for up to 90 days after your release. Additional requirements are explained in the annuity contract. The nursing home waiver does not include home health care.

Withdrawal Provisions

Free Withdrawals Prior to Lifetime Withdrawals the Symetra Income Edge allows for a withdrawal of up to 10% of your contract value each contract year without having to pay any surrender charges or market value adjustments. If you withdraw more than 10% annually during the surrender charge period, a surrender charge and market value adjustment (MVA) will apply on the amount in excess of the 10%. Optional Features If a surviving spouse continues the contract, surrender charges and MVA will be waived going forward. A spouse may also continue the withdrawal benefit if lifetime withdrawals have not begun or lifetime withdrawals based on a joint life were underway. If lifetime withdrawals have not begun and a surviving spouse has elected to continue the withdrawal benefit, the surviving spouse may begin lifetime withdrawals once they reach the minimum start age. The spouse can also choose to continue the contract and terminate the withdrawal benefit (no charges will be refunded). If lifetime withdrawals based on a joint life were underway, the surviving spouse must choose to continue the contract in order to continue receiving lifetime withdrawals. 

Company Founded: 1957
Excellent Rated Company
Symetra Life Insurance Company
Company Ratings
4.4
  • A.M. Best A
  • S&P A
  • Moody's A1
  • Comdex 79
Assets: $44,755,072,193
Iowa

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