A fixed deferred annuity is a contract between you and a life insurance company. It’s funded either through a one-time lump sum purchase payment or through multiple purchase payments over time.
A fixed annuity offers a guaranteed interest rate of return over a fixed period of time and enables you to defer taxes on your earnings until you make a withdrawal.
Fixed deferred annuities offer the three things many people look for nowadays when purchasing an annuity:
Guaranteed income for life.
After the first contract year—and anytime before your 101st birthday—you can convert your annuity’s accumulated value
into a regular income stream that you’ll never outlive.
Protection against market risk. Your annuity never earns less than the guaranteed minimum interest rate stated on your contract. Earnings are guaranteed and not subject to market risk.
Convenient access. Fixed deferred annuities are designed for longer-term accumulation. But if you need to access some of your money, you can.
Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.
Withdrawals may be subject to federal income tax and 10% IRS early withdrawal tax penalty may also apply for amounts withdrawn prior to age 59 ½. Consult your attorney or tax advisor for more information.