BELLEVUE, Wash. — Symetra Life Insurance Company today rolled out new enhancements to its cash value universal life (UL) insurance product — Symetra Classic UL — including expanded death benefit options and a charitable giving benefit.
Symetra Classic UL now offers three death benefit options. The newest option pays a death benefit plus a return of the premiums paid — designed for individuals looking to maximize the amount of money passed on to their beneficiaries or for businesses that wish to cover key employees.
Also new to Symetra Classic’s line-up of options is a charitable giving benefit, which may be selected at issue. This option gives customers the ability to continue their charitable giving upon death by paying an additional benefit of 1 percent of their policy’s face amount to a selected, qualified charity, at no additional cost. Symetra also has expanded the age range for the product’s accelerated death benefit rider for limited activities of daily living and cognitive impairment. The rider now is available to insured persons ranging in age from 20 to 85 years old.
“Last fall, we introduced Symetra Classic with the aim of providing flexibility, cash accumulation and lifetime protection to meet clients’ needs at all stages of life. Now, we’re continuing to improve the product,” said Mike Tinsley, Symetra senior vice president of Life Product Development and Client Solutions. “Our new enhancements further our commitment to bring the value back to universal life insurance for customers by putting more of every premium dollar toward cash value build-up.”
Symetra Classic UL is tailored to customers seeking a life insurance policy that offers tax-advantaged growth and cash value accumulation, which can be accessed when unplanned needs arise or as a source of supplemental retirement income. The product offers flexible features and payment options, and multiple ways to access the policy’s accumulated cash value.
For more information about Symetra Classic Universal Life Insurance, contact the Symetra Sales Desk at 1-800-706-0700 or visit http://www.symetra.com/IndividualsFamilies/Products/LifeInsurance/Permanent/Pages/Classic-Universal-Life-Insurance.aspx
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.
Symetra Classic Universal Life Insurance is a flexible premium universal life insurance policy issued by Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004.
Policy form number is ICC11-LC5 or ICC11-LC6 in most states, and is not available in all U.S. states or any U.S. territory.
Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.
Premium payments are flexible but must be equal to or greater than the minimum monthly premium to guarantee coverage. The amount and timing of premiums will affect the death benefit, the accumulation fund and the duration of insurance. Changes in premium payments and payment schedule will affect the death benefit amount and duration as well as the accumulation value potential of the policy.
Although proceeds of life insurance are generally received income tax-free by beneficiaries, estate and local taxes may apply. Consult your attorney or tax advisor for more information.
Symetra® is a registered service mark of Symetra Life Insurance Company.