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Life Insurance Frequently Asked Questions

What is Life Insurance?

In its basic form a life insurance policy is a contract between the policy owner and the insurance company which states that in exchange for premiums, the company will pay a benefit when the insured person dies. Benefits will be paid to the beneficiary(ies) named by the policy owner.

What Life Insurance coverage is right for me?

There are many types of life insurance products and it is important that you select the right fit for your needs. Types of coverages include:
  • Term Life
  • Permanent (Whole, Universal or Variable)
Term Life Insurance
Term Life Insurance provides pure insurance coverage for a stated period of time.
  • It is the least expensive form of insurance.
  • Term insurance provides no cash accumulation.
  • As your needs change, Term coverage may be converted to permanent forms of insurance.
  • Insurance will terminate when the term of coverage expires.
Whole Life Insurance
Whole Life Insurance will remain in effect the entire life of the insured as long as required premium payments are made.
  • Whole Life can provide a lifetime of protection.
  • The premium amount remains the same throughout the life of the policy.
  • The policy accumulates cash value on a tax deferred basis until withdrawn.
  • The policy cash value will earn interest at a guaranteed fixed interest rate.
Universal Life Insurance
Universal Life (UL) Insurance is also permanent insurance that offers protection throughout the insured person's lifetime as long as required premium payments are made.
  • UL can provide a lifetime of protection and offers a flexible premium payment structure.
  • Premium payment schedules are flexible so that you can pay as much or as little premium as you desire so long as the payments comply with policy minimums and maximums.
  • The policy accumulates cash value on a tax deferred basis until withdrawn. The accumulated cash value will earn interest at a varying rate and the interest rate will never decrease below the contractually guaranteed rate of return.
  • UL coverage offers a level or increasing death benefit option and provides the policy owner choices and flexibility throughout the duration of the policy.
Important Note: Flexible interest rates and insurance rates mean you can benefit if interest rates go up or insurance costs stay low. However, if these rates do not turn out favorable, it is possible that your policy could terminate even though you have paid your planned premiums.

Variable Universal Life
Variable Universal Life (VUL) is also permanent insurance that offers protection throughout the insured's lifetime as long as required premium payments are made.
  • VUL is similar to Universal Life coverage in that it offers a lifetime of protection and offers a flexible premium structure.
  • Premium payment schedules are flexible so that you can pay as much or as little premium as you desire so long as the payments comply with policy minimums and maximums.
  • The policy accumulates cash value on a tax deferred basis.
  • You may invest the policy accumulation value in a variety of investment options. There are many options available so that you may select the best ones to suit your needs including stocks, bonds, a money market account and an interest bearing fixed account.
Important Note: Flexible interest rates and insurance rates mean you can benefit if interest rates go up or insurance costs stay low. However, if these rates do not turn out favorable, it is possible that your policy could terminate even though you have paid your planned premiums.

Customer Service Questions:

Who can make changes to my policy?
Only the policy owner(s) has the contractual right to make any changes to the policy or have any access to any information relating to the policy.

How frequently can I be billed?
You may instruct us to bill your policy on a variety of payment schedules including:
  • Monthly
  • Quarterly
  • Semi-Annually
  • Annually
What billing methods are available?
You can instruct us to bill your policy in a variety of different ways including:
  • Direct mailing of premium notices to the payor of record on a monthly, quarterly, semiannual, or annual basis.
  • Convenient electronic funds transfer (EFT). With your authorization we are able to automatically draft premiums from your checking or savings account. You may instruct us to bill for policy premiums on a monthly, quarterly, semiannual, or annual basis.
  • We also accept credit card payments on many of types of life policies with the exception of Variable Universal Life policies. With your authorization we are able use your MasterCard or Visa to make a one time premium payment or bill for premiums on a repetitive payment schedule such as monthly, quarterly, semiannually, or annually.
How can I make changes to my policy?
You can request many types of policy changes by utilizing one of our convenient online change forms and either mailing or faxing us your completed request for change. Unfortunately we are unable to accept your policy change request via email. To use our online forms, just choose the type of policy change you would like to make from our selection menu and print the appropriate form. Some of the online forms we provide include forms for changing your beneficiary, policy ownership, request for duplicate policy, changing the investment allocations to your VUL policy, or request for policy loan. Please see our complete list for all the available forms and change options.

If you would like to request a change on your policy but you don't see a form listed for that change, please contact our Customer Service Department. We can be reached by email or toll free at 1-800-SYMETRA (1-800-796-3872), option 1. We can also be reached by Fax at 1-866-532-1361. Our Customer Service Representatives are available Monday-Friday, 7:00 AM - 4:30 PM Pacific Time.

How do I file a claim for policy benefits?
Should you wish to file a claim or have any questions regarding a claim, please contact our Individual Claims department at 1-800-SYMETRA (1-800-796-3872) ext.65745. Our Claims Representatives are available to help you Monday-Friday 7:00 AM - 4:00 PM Pacific Time.

What do I do if I have forgotten or "locked" my PIN (Personal Identification Number) or forgotten my User ID?
If you have any problems with your PIN or User ID, please call us toll-free at 1-800-SYMETRA Option 8 or 1-800-796-3872 Option 8. Customer service representatives are available weekdays from 7:00 a.m. to 4:30 p.m. (Pacific Time). You may also send comments and questions to csmail@symetra.com (life insurance) or retser@symetra.com (annuities and retirement plans).

Can you accept requests for changes to my policy via email?
For your own protection we do not act on requests for policy changes received via email. The primary reason is there are difficulties in confirming the identity of the sender. We will gladly accept your email request for general information or other non-policy specific information.

What is available to me on this web site?
Symetra.com and our Individual Life site are constantly evolving and we plan on bringing you more convenient features in the near future. Currently you are able to utilize a variety user friendly transactions on this site including:
  • Current Cash Value of Whole Life, Universal Life, and Variable Universal Life policies.
  • View the previous three months of transactions for
    • Premium payment history.
    • UL and VUL monthly Cost of Insurance charges.
    • Premium and Policy Loan history.
    • Cash value withdraws and partial surrender history.
    • VUL fund transfers and ,
    • Current VUL fund allocations and distributions.
  • Many of our online forms for making changes to your policy.
You may contact us by email or call 1-800-SYMETRA (1-800-796-3872), option 1. Customer Service Representatives are available Monday - Friday, 7:00 a.m. - 4:30 p.m., Pacific Time.