Symetra Life Insurance Company Review

Symetra Insurance CompanyLaunched the company's first model in 2017Index insuranceProducts are put into the market. In 2019, Symetra announced its entry into the foreigner market.

How about the insurance company Symetra?What products are there?Most importantly, can this company meet the various financial needs of you and your family?

Next,American Life Insurance GuideWe will evaluate Symetra Life Insurance Company from our perspective to help you understand whether this company has a reasonable price and whether it is a good choice.We once again emphasize that when considering important financial decisions for individuals and families-such as applying for a whole life insurance policy-please do your research.

Below isAmerican Life Insurance Guide© ️for Symetra Life Company reviews and product introductions, I hope to provide consumers with some supplementary reference before purchasing and comparing insurance policies.

History of Symetra Life Insurance Company

The headquarters of Symetra Insurance Company is located in Bellevue, Seattle, Washington, and its main business islife insurance, Annuities, and company employee benefit plans.

Show on Wikipedia,Symetra Was established in 2004.But in 1957, Symetra existed.At the timeSymetra , Is a subsidiary of Safeco Insurance Company.And Safeco Insurance Company is a subsidiary of Liberty Mutual Insurance.By 2004, Safeco Insurance Company willSymetraSold to Baishan Insurance Group and Berkshire Hathaway.

Symetra With the financial assistance of Baishan Insurance Group and Berkshire Hathaway, it established its own door in 2004 and started independent development.

2010 years,Symetra Listed on the New York Stock Exchange, stock code: SYA.

At the end of 2015, the Japanese insurance giant Sumitomo Life bought it for $38 billionSymetra.

Symetra Of products and services are entirely through independent financial advisors andIndependent brokerIt has more than 170 million customers.

Symetra insurance company's financial status and credit rating

afterAmerican Life Insurance GuideAccording to the online editor's query, Symetra ranked 2017 out of 200 insurance companies in the 39 Bayes Life and Health Insurance Company rankings.According to the company publicly released2018 financial reportIt shows that as of December 2018, 12, the company's total assets were $31 billion and total revenue was $492 billion.

Annuity products are the main business segment of Symetra and are mainly sold through bank channels.

AM Best.giveSymetraLife insurance companyA'Credit rating, Standard & Poor’s gives "A'Fitch’s credit rating has also been maintained "A'Credit rating, and Moody’s gave "A1'Rating.

The following is a list of ratings:

• A – AM Best.
• AT - Standard & Poor/Standard & Poor』s
• AT - Fitch/Fit
• AT - Moody/Moody's

>Recommended reading:How to see if an insurance company is good?How to interpret the credit rating?

At last,SymetraLife insurance company inComdexThe overall rating score is79Minute.inBBB(Better Business Bureau) website has an "A+" rating.If you have comments and suggestions for Symetra, you can also passBBB online complaintGet the treatment.

Life insurance products of Symetra Insurance Company

Symetra provides multiple types of life insurance products, divided intoTerm insurance和Life insurance.

• Term Life Insurance/ Term
• Whole Life Insurance/ Perm
  • Accumulator IUL Indexed Universal Life / Index insurance
  • UL-G Universal Life Insurance / Universal insurance
  • CAUL Universal Life Insurance / Universal insurance
  • Successor Single Premium Life Insurance / Lump-sum life insurance

>Recommended reading:What are the types of American life insurance?Probably premium and pros and cons evaluation

Symetra Term Life Insurance/ Term

SymetraTerm life insurance產品提供固定的保費和固定的身故賠償，該產品提供10年，15年，20年和30年的定期選擇。投保年齡範圍是20-75歲。

SymetraTerm life insuranceCan be upgraded to whole life insurance products.If the upgrade is not implemented, after the policy expires, you can continue to renew the insurance year by year, the premium will increase significantly, and there is a limit on the maximum renewal age of 95 years.

The additional clauses of this insurance type Rider are the same as other companies' insurance types. There areEarly payment for terminal illnessRider.Additional childrenRider.Premium reductionRiderand so on.

Symetra Whole Life Insurance/ Perm

Symetra Insurance's main product line in the field of life insurance is universal insurance (UL). In 2019, the company withdrew from the first index insurance (IUL).

Symetra Insurance Company’s universal insurance (UL) products cover everything from traditional universal lines to one-off universal insurance. The last universal insurance product can be used for estate planning.

Universal Insurance (UL) insurance policies usually have oneGuaranteed policy interest rate,withInterest rate announced by a company, Which is a bit likeSavings insurance products(Whole Life).The guaranteed interest rate is the interest rate that the policyholder will definitely get, and the interest rate announced by the company every year is the additional income that the insurance company gives to the policyholder.

Symetra Accumulator IUL / Index Insurance

As the market acceptance of index insurance types has steadily increased, Symetra has also launched its ownIndex insurance.How the product works and otherIUL insuranceSimilar to small differences, while providing part of "Welfare".The policyholder can calculate the index growth by depositing the premium, and finally get the tax-free cash value.

In general, this product is suitable for individuals or families seeking lifetime protection and additional tax-free income.

Free of chargeadditional termsRidersinclude:

1. Overloan Lapse Protection Rider
2. Guaranteed Policy Value on Surrender
3. Chronic disease advance payment clause
4. Early Payment Clause for Terminal Illness

Extra optionaladditional termsThere are: chronic diseases + advance payment clause, additional clauses for charitable donations.

Symetra UL-G Universal Insurance

This product has great flexibility in the payment of premiums, and it also comes with a "break-out protection additional clause", which is mainly for customers who want to "guarantee death compensation".

You can apply between the ages of 16-85, with a minimum coverage of $50,000.With part "Welfare"additional terms.

Symetra CAUL Universal Insurance

This is a universal insurance product that balances cash value and premiums. It is mainly provided to customers who wish to configure lifetime insurance.

In this policy, there is a certain amount of cash value that can be withdrawn as income by delaying tax payment. If it is not withdrawn, the cash value will gradually accumulate.

If the policyholder has a "chronic disease" or is diagnosed with a "terminally ill" that is eligible for compensation, he can withdraw part of the death benefit in advance.The policy also provides optional chronic diseases + early payment clauses, and additional regular coverage additional clauses.

Symetra Successor Lump-sum Life Insurance

As the name of "Successor", the holder of this product can leave a tax-free money to the beneficiary, and there is no federal tax at all as income.At the same time, from the moment the product is insured, the total value of the insured's assets (legacy) is calculated immediately.This is a product that guarantees death compensation up to the age of 120, and the insured does not have to worry about breaking the insurance.

The policy allows annual withdrawals not exceeding 10% of the accumulated cash value, and no payment is requiredSurrender fee.

Symetra's Annuity Products / Annuities

On the official website of Symetra Insurance Company, the annuity product line is ranked before the life insurance product line, which represents the company's core business. Symetra provides different types of annuity products, focusing on helping individuals or families to carry outRetirement income planning.

Symetra's annuity products include:

• Deferred Annuities/Fixed Deferred Annuities
• Fixed Indexed Annuities
• Investment annuity/Variable Deferred Annuities
• Income Annuities

insurGuru©️ Final Evaluation

According to calculations in 1957, the history of Symetra Insurance Company in the life insurance field is not too long.However, young companies often have some competitive points that can help certain insured groups.American Life Insurance GuideIt is believed that the following two groups can benefit from:

• Policyholders who have just quit smoking: Symetra can give a standard health rating after quitting smoking for more than 12 months, which far exceeds the industry standard, and the benefit to policyholders is a significant reduction in premiums.
• Foreigners without strong U.S. connections: Symetra accepts insurance applications from foreigners. Although the procedures are relatively complicated, foreigners who want to insure overseas have one more choice.

In the universal insurance sector, Symetra Insurance guarantees coverage up to age 120 for GUL products, offering competitive rates.

通過American Life Insurance Guide insurGuru©️Insurance CollegeIntroduction, learned aboutSymetraAfter the characteristics, can and professionalInsurance Financial AdvisorCommunicate the plan to see if it meets your needs.We advise consumers to carefully consider and compare before purchasing insurance.

Official website: symetra.com

Symetra is a life insurance company that provides retirement plans, employee benefits, annuities, and life insurance. It mainly sells through independent issuers in the United States. After 1957, Symetra Financial Group became a subsidiary of Safeco and was subsequently acquired by Japan's Sumitomo Life Insurance Company.

Company headquarters: Bellevue, Seattle
Number of employees: 1,250
Parent company: Sumitomo Life (Sumitomo Life)
Subsidiary: Symetra Life Insurance Company

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