Symetra’s new indexed annuity offers rising lifetime payout rates

April 15, 2016 by Editorial Staff

Symetra Life Insurance Company has introduced Symetra Income Edge, a single premium fixed indexed annuity with a lifetime withdrawal benefit rider that offers growth potential during the accumulation and distribution periods. 

Instead of offering a “roll up” or increase in a notional “benefit base” each year, Income Edge increases the contract owner’s maximum withdrawal rate by half a percent (0.50%) in each of the first ten contract years. There is a 9% penalty for surrender in the first year, declining to zero penalty after eight contract years (excluding withdrawals up to 10% of the account value or withdrawals under the living benefit. Click HERE to view full article

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Originally Posted at Retirement Income Journal on April 15, 2016 by Editorial Staff.