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September 15, 2015

Symetra Introduces New Group Critical Illness Insurance Product

BELLEVUE, Wash.—Symetra Life Insurance Company today announced the expansion of their group benefits product suite to include a new, enhanced Symetra Critical Illness (CI) Insurance policy. This new group product allows employers to offer an added layer of financial protection in the event of a covered critical illness — with added flexibility for the employer and the employee and more covered conditions than traditional CI policies. The policy is available as standalone coverage or in conjunction with other Symetra group products, including stop loss, life, disability and Select Benefits fixed-payment medical insurance.
 
Symetra Critical Illness provides a lump-sum payment to the insured employee or family member upon diagnosis of a covered condition, after the policy is in effect. Covered conditions are divided into three primary categories, with each condition paying a fixed percentage of the benefit amount — between 25 percent and 100 percent. Benefits are paid directly to the insured, regardless of any other coverage they may have, and may be used for anything, including expenses like co-pays, child care and transportation. 
 
“A critical illness can happen to anyone. While most major medical plans cover hospital and medical expenses, there are many other associated costs that can add financial pressure to an already stressful situation. Symetra Critical Illness Insurance can help employers provide important financial protection to their employees when they need it most. Benefits can be used for anything so employees can concentrate on their recovery, rather than finances,” said Craig Raymond, Symetra senior vice president, Group Life, Disability and Select Benefits.
 
Available as an employee- or employer-paid benefit, Symetra Critical Illness offers a variety of custom options — family coverage, health screening, buy-up and recurrence benefits, as well as guaranteed issue amounts — to help meet the needs of different groups.
 
For more information about Symetra Critical Illness Insurance, including state availability, contact a Symetra Benefits representative at 1-800-706-0700.
 
About Symetra
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation (NYSE: SYA), a diversified financial services company based in Bellevue, Wash. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent agents and advisors. For more information, visit www.symetra.com.
 
Critical illness insurance policies are designed to provide benefits at a preselected, fixed dollar amount for specific critical illness conditions. Coverage may be subject to exclusions, limitations, reductions and termination of benefit provisions. Critical illness policies are insured by Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004. Root policy form number is SBC 00500 6/14 in most states and is not available in all U.S. states or any U.S. territory.
 


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Contact(s):
Media Relations:
Diana McSweeney
(425) 256-6167                                                                                                       
diana.mcsweeney@symetra.com
 



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