Product Glossary
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401(k), an employer-sponsored retirement savings program that allows employees to save pre-tax dollars for retirement, thereby reducing current federal taxable income.

403(b), a retirement savings tool that allows employees of certain employer groups, such as public education institutions, or nonprofit organizations to make contributions on a pretax basis through salary deferral.

Defined benefit plans, commonly known as pension plans, these are designed to distribute a specific monthly benefit at retirement.

Defined contribution plans, a retirement savings tool that includes 401(a), 401(k), 403(b) or 457(b) plans. The benefits to a participant depend on contributions made to, and the investment return on, the participant’s account.

Disability income insurance, provides a weekly or monthly income benefit for insured who are disabled due to a covered injury or sickness.

Deferred annuities, contracts used to accumulate funds for future use, normally in retirement. Earnings are not taxed until withdrawn.

Fixed annuities, contracts that guarantee accumulation interest rates (for deferred annuities) and/or specific benefit payment amounts (for immediate annuities). The amounts credited or paid will not fluctuate regardless of adverse changes in the insurance company’s mortality experience, investment return and expenses. They typically appeal to individuals with a conservative risk tolerance.

Group life insurance, life insurance coverage for a group of people under one insurance contract, such as employees of a business firm.

Income annuities (immediate annuities), contracts established with a one-time purchase payment intended to provide a guaranteed stream of income for a predetermined number of years or for life.

IRA, a tax-deferred retirement savings plan that is typically set up by the individual rather than as a company-sponsored plan.

Limited benefit medical insurance, a medical policy, contract, or certificate offered or marketed as supplemental medical insurance that pays specified amounts according to a schedule of benefits.

Longevity insurance, a form of fixed deferred annuity that enables customers to use a small portion of current savings to buy guaranteed income for their later years of retirement.

Roth IRA, contributions to this type of retirement savings account are made with after-tax dollars, however it grows income-tax free.

Section 457, a retirement savings tool that allows employees of certain employer groups such as state governments, churches and nonprofit organizations to save pretax dollars for retirement.

Stop loss insurance, protects companies with self-funded health plans against large, potentially catastrophic medical claims.

Structured settlement annuities, typically purchased by property and casualty insurance companies for the benefit of an injured claimant with benefits scheduled to be paid throughout a fixed period or for the life of the claimant. They provide an alternative to a lump sum settlement generally in a personal injury lawsuit.

Term life insurance, stays in effect for only a specified, limited period. It provides a death benefit if the insured dies during the specified period in the policy. Term is typically a less expensive form of life insurance.

Universal life insurance, permanent insurance that is characterized by flexible premiums, flexible face amounts and unbundled pricing factors. A key benefit is the ability to withdraw the cash value or borrow against it at a low-to-zero net cost.

Variable annuities, either deferred or immediate contracts where the annuitant’s contributions are invested by the insurance company in one or more securities portfolios. A variable annuity offers a range of investment options. For deferred annuities, the accumulation interest rate and the value of the account will vary depending on the performance of the investment options that are chosen. For immediate annuities, the benefit payment amounts may vary depending on the performance of the underlying investment options.

Variable life insurance, an investment-oriented life insurance policy that provides a return linked to an underlying portfolio of securities. The policyholder has discretion in choosing among available subaccounts, such as a common stock fund, bond fund, or money market fund.

Variable universal life insurance, combines permanent insurance with investment flexibility. The death benefit and cash value can fluctuate, either up or down, based on the performance of the investments.

Whole life insurance, permanent insurance with fixed premiums for the life of the policy. It provides guaranteed cash value that can be borrowed against.

Worksite life insurance, individual life insurance policies available through employers, on a voluntary, payroll-deduction basis.

About Symetra Financial
Symetra Financial Corporation (NYSE: SYA) is 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 benefits consultants, financial institutions and independent agents and advisors.

Securities are offered through Symetra Securities, Inc. ("SSI"), member SIPC. Annuities and life insurance are issued and employee benefits are insured by Symetra Life Insurance Company and are not available in all U.S. states or any U.S. territories. SSI and SLIC are affliliates and both are located at 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004-5135.

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