Symetra Prestige
The Symetra Prestige annuity is a fantastic product for retirees eying a secure financial future. It promises steady income, meaning peace of mind in your golden years. Plus, it adapts to your needs, allowing flexibility!
Reading through their brochure, it's obvious that Symetra cares about your retirement. Their annuity offers potential for growth, and safeguards against market downturns. Truly, a great product for those planning for life's next great adventure!
Symetra Prestige
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.85%
Fixed
|
| 2-Year SG Columbia Global Market States PTP Participation Rate |
Point to Point
Biennial
|
230%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10.5%
Cap
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year SG Columbia Global Market States PTP Participation Rate |
Point to Point
Annual
|
155%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
No Riders for Symetra Prestige annuity.
Waivers
Hospital
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
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. The nursing home waiver does not include home health care.
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.
Premium Notes
Inherited IRA’s can only be issued without the GLWB rider and the Beneficiary must either be a Spouse or an EDB (Eligible Designated Beneficiary).
Withdrawal Provisions
Free annual withdrawalsAfter the first contract year, clients can withdraw up to 7% of their contract value each contract year without paying withdrawal charges or applicable market value adjustments (MVA's). If they withdrawal more than 7% during the withdrawal charge period, a withdrawal charge and an MVA may apply on the amount over 7%. The 7% penalty-free amount is no longer available after lifetime withdrawals begin if the withdrawal benefit is elected at purchase. 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).
- A.M. Best A
- S&P A
- Moody's A1
- Comdex 79
