Permanent life insurance
Symetra Accumulator Ascent IUL
Symetra Accumulator Ascent IUL is an indexed universal life (IUL) insurance product designed to protect your loved ones or business and provide supplemental retirement income if you need it.
What do we mean by indexed universal life?
Indexed universal life is a type of policy that combines the protection of life insurance with the potential to grow [cash value] (policy value) through index strategies.
Index strategies are options within the policy in which growth is linked to the performance of a market [index]. You can experience the potential growth of a rising market, but not the losses of a negative one, as your money is not actually in the market.
Accumulator Ascent IUL can protect your family and help you prepare for your future.
I want to provide as much money as possible to my family if something happens to me.
• Accumulator Ascent IUL can provide a death benefit (the amount you leave to your beneficiaries) that is generally free of federal income tax to help preserve their lifestyle after you’re gone.
• If the policy is properly structured in a trust1 outside of your estate, the proceeds are generally free of federal estate taxes.
I want my money to grow.
• The portion of your premium not used to cover insurance costs, [riders] or charges can grow through several [index strategies], a [fixed account], or a combination.
• If the market [index] you choose goes up, your [policy value] will likely increase, but you will never lose money in an [index segment] because the index declines. This is because your money is not directly invested in the market, so you have no downside risk—only upside potential (which may be subject to a [cap]).
• Every eight-year period, the “lookback guarantee” means your policy value may increase if index segment returns are not at least the lookback guarantee rate that's defined in the policy per year, cumulatively.
I want to be prepared for the unexpected.
• We understand each person’s circumstances are unique. That’s why we offer an array of living benefits riders that can help you live confidently today by being more prepared for the unexpected tomorrow.
• Some riders are included in our policies at no additional cost. Others are optional and must be selected at application for an additional cost. This includes our industry-first Cancer Care CompassSM rider package.* Cancer Care Compass provides a lump-sum cash benefit with a qualifying cancer diagnosis. Additional value-added services include access to a multi-cancer early detection test that can detect a cancer signal across more than 50 types of cancer, health care advocacy services and nutrition intervention, guidance and support.
• Please discuss available riders with your insurance professional to determine if they’re a good fit for your needs.
*Cancer Care Compass is a rider package comprised of the Cancer Insurance and Value Added Services riders.
Important note: If you're a resident of Arizona, please click here for exclusions and limitations for the Cancer Insurance Rider.
I want access to my money when I need it.
• You can access your policy value through a combination of withdrawals and two types of loans.2 These withdrawals and loans are not generally subject to federal income tax as long as your policy remains [in force].
• Withdrawals are available after the first policy year. You should always consult with your attorney or tax advisor before taking loans or withdrawals.
What if my situation changes, but I still want to keep the policy active?
• If you don’t want to pay your premiums out of pocket, you can pay them with the [policy value] —provided there is enough money to cover them. However, this could reduce the death benefit.
• You can increase or decrease the death benefit to match your personal situation.
I’m a business owner and I’d like an easy way to transfer my business if I die.
• Accumulator Ascent IUL can help fund the efficient transfer of your business to a partner or family member.
I don’t want any surprises.
• The interest you earn may be limited by a “cap”—the top amount you can earn in an [index segment] term. Index caps may change, but once your money is allocated to an index segment, your index cap will not change for that [segment term].
• There may be years where you earn no interest if the [index] you choose doesn’t increase or it declines. But you will never lose money in an index segment due to market declines.
• There may be charges associated with various policy options (“[riders]”) you may decide to add.
• If you decide to cancel your policy, you will receive your [net cash surrender value].
• Skipping premiums, reducing the amount of premiums paid and taking loans and withdrawals may negatively affect your policy.
• Certain [index strategies] will incur an additional charge.
This is a high-level overview of Symetra Accumulator Ascent IUL so you can get a sense of whether it might work for you. This is not a complete description. Please ask your insurance professional for a more complete description of this product.
Next steps
Ask your insurance professional if life insurance is right for you.
Symetra Accumulator Ascent IUL is a flexible-premium adjustable life insurance policy with index-linked interest options issued by Symetra Life Insurance Company, located at 777 108th Ave NE, Suite 1200, Bellevue, WA 98004-5135. This policy is not available in all U.S. states or any U.S. territory; however, where available, it is usually issued under policy form number ICC17_LC1.
Cancer Care Compass is a rider package comprised of the Cancer Insurance and Value Added Services riders.
Policy riders are not available in all U.S. states or any U.S. territory, and terms and conditions may vary by state in which they are available.
A rider is a provision of the policy that may have additional costs, limitations, potential benefits and features that should never be confused with the base policy itself. Before evaluating the benefits of a rider, carefully examine the policy to which it is attached.
Life insurance policies contain exclusions, limitations, reductions of benefits and terms for keeping them in-force. Please contact your insurance professional for complete details.
Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.
The Cancer Insurance Rider is offered at application for an additional cost and is usually issued under rider form number L-10351. The rider is only available for insureds issue ages 20-80, and if elected, additional underwriting will be required. It's possible that the insured is approved for the base policy but declined for the rider based on the rider underwriting results. The rider is not available on policies with ratings worse than Table 4, with annual flat extras exceeding $5 per $1,000, or with both flat extras and table rates. The maximum cash benefit amount is selected at application and cannot be increased once the rider is issued. If the Cancer Insurance Rider is declined, the Value Added Services Rider is not available.
Cancer Care Compass includes the Value Added Services Rider for an additional cost and is usually issued under form number L-10358. The value-added services are provided by third-party providers that are independent of Symetra Life Insurance Company. Registering to use or using these services is optional.
The Galleri® multi-cancer early detection screening test is administered by GRAIL, LLC, and is available one time to insured's ages 50-89 under the rider after the benefit waiting period. The test is available through an independent telemedicine healthcare provider. The test results are provided to the insured. Access to the rider's nutrition or health advocacy services are available after the benefit waiting period and will remain available to the policyowner and their eligible family members through the insured's age 90 or at no additional cost for two years following the payment of the rider maximum cash benefit amount.
Products and services offered under the Value Added Services Rider are not insurance and are subject to change. For more information, please contact Symetra at www.symetra.com or by telephone at 1-800-796-3872. There are additional requirements associated with participation in the value-added services. Terms and conditions may vary and may not be available in all U.S. states or any U.S. territory. If any service is discontinued or if we elect to cease to offer a service, we may substitute a reasonably comparable service. If no reasonably comparable service is available, we may discontinue the specific service and cease charging for that service.
Certain benefits or riders may have tax implications. You should consult with your legal or tax advisor prior to purchasing.
Withdrawals or loans may not be allowed in certain situations. Amounts withdrawn will decrease the policy death benefit and may be subject to a withdrawal processing fee. Loans may have a permanent effect on the policy, even if repaid.
Withdrawals or loans on modified endowment contracts (MECs) may be subject to federal income tax and an additional 10% tax on amounts taken prior to age 59½.
Symetra Accumulator Ascent IUL has fixed and indexed accounts. Interest credited to the indexed accounts is affected by the value of outside indexes. Values based on the performance of any index are not guaranteed. The policy does not directly participate in any outside investment or index.
Allocations to the fixed account or index strategies are based on the allocation instructions provided at time of application, and may be subsequently changed in writing by the policyowner. When allocations occur, an index segment for each respective index strategy is created. Each index segment has its own index crediting method, index value, index cap, index floor, index participation rate, index segment term, and index start and maturity date. The index caps, floors and participation rates after the initial index segment term may be higher or lower than the initial rates, but will never be less than the guaranteed minimums shown in the policy.
An index segment represents the portion of the index account that credits interest based on a change in the indexes applicable to that index segment. Index credits are calculated and credited (if applicable) on the respective index segment’s maturity date. Amounts withdrawn from the index account before the index segment’s maturity date will not receive an index credit, if applicable, for that term.
Symetra reserves the right to add, modify or remove any index strategy or crediting method. If any index is discontinued or if the calculation of any index is changed substantially, Symetra reserves the right to substitute a comparable index.
An index may not include the payment or reinvestment of dividends in the calculation of its performance. It is not possible to invest in an index.
The death benefit is guaranteed provided certain conditions are met.
Although proceeds of life insurance are generally received free of federal income tax by beneficiaries, estate and local taxes may apply. Consult with your attorney or tax advisor for more information.
As of 3/24/2024, Cancer Care Compass is not available in the following states: AK, CA, CO, FL, HI, ID, IN, LA, MA, MD, MO, NH, NM, ND, NJ, NY, OH, OR, PA, SC, UT, VT, VA and WA.
1Trust should be drafted by an attorney familiar with such matters. Failure to properly structure could result in adverse treatment of trust proceeds. Symetra Life Insurance Company does not provide tax or legal advice.
2Withdrawals and loans may reduce or eliminate the death benefit payable to your beneficiaries. In general, policy loans are charged interest; they are usually not taxable. If a policy lapses or is surrendered, the loan becomes immediately taxable to the extent of the gain in your policy. Withdrawals are taxable only when you take more money out of the policy than you’ve paid in premiums. If your policy becomes a modified endowment contract (MEC), less advantageous tax provisions apply.
Cancer Care CompassSM is a service mark of Symetra Life Insurance Company.
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