Symetra Select Pro with ROP

The Symetra Life Insurance Company finds itself in the financial service and insurance sector ever since its inception in 1957. Serving as a subsidiary of Symetra Financial Corporation, the company is known for its broad scope of life insurance policies and annuity types available. Striving to meet the ever-changing needs of its customer base, Symetra delivers customizable insurance solutions through not only its variety of offerings but also its riders and add-ons to give additional coverage and flexibility to clients. With an ongoing investment in technology and digital reform to enhance customer experience and streamline operations, Symetra has recently introduced its Symetra SwiftTerm term life insurance which offers instant coverage for eligible applicants.

Symetra Life Insurance Company
15 customer reviews
Symetra Select Pro with ROP-brochure Symetra Select Pro with ROP-brochure

Symetra Select Pro with ROP

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Ratings:

  • A.M. Best A
  • S&P A
  • Moody's A1
  • Comdex 79

About Product

Premium Type
Single Premium with Additional
Fee withdrawal:
15%
Market Value Adjustment
No x
Return Of Premium
Yes
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
90
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, and Inherited IRA
Launch Date
02/15/2022

MYGA Interest Rates

Term
Rate
Annual percentage yield (APY)
earned over the investment term
3 years 3.2%
5 years 3.5%
7 years 3.5%
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: 
  • 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. 

Riders

No Riders for Symetra Select Pro with ROP annuity.

Waivers

Hospital

Unavailable in states: CA

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

Unavailable in states: CA

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. The nursing home waiver does not include home health care.

Terminal Illness

Unavailable in states: CA

After the first year, withdrawal charges are waived if you are diagnosed with a terminal illness.

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