Symetra Life Insurance Company Expands Annuity Line in U.S. Bancorp Investments, Inc.
Redmond, Wash. — (May 24, 2005) — Symetra Life Insurance Company has expanded its annuity line in U.S. Bancorp Investments, Inc. As part of its platinum partnership with U.S. Bancorp Investments and U.S. Bancorp Insurance Services LLC, Symetra’s Custom and Select annuities have been added to the suite of annuity products, term life insurance and universal life insurance products already being sold through U.S. Bancorp — the sixth-largest financial holding company in the United States.
"U.S. Bancorp Investments is pleased to continue our relationship with Symetra with the addition of Symetra’s Custom and Select annuities to our offerings," said Melissa Gaustad, Chief Marketing Officer of U.S. Bancorp Investments. "We look forward to working with Symetra to deliver the benefits of these annuities to our clients."
Symetra’s annuities are simple, competitive products with sought-after guarantees for fixed income customers including annual free withdrawal provisions
1, a guarantee of principal, guaranteed minimum fixed interest rates for predictable minimum earnings levels
2 and the benefit of liquidity with tax deferral.
"With the addition of our Custom and Select annuities to the robust products Symetra already offers in U.S. Bancorp Investments, customers have a greater choice of consumer-friendly financial products to choose from as they structure their portfolios,” said Mike Korthaus, vice president and managing director of Symetra’s Financial Institutions Distribution. "As a U.S. Bancorp Investments platinum partner, we have full access to its nationwide network of financial consultants; this enhanced relationship enables us to provide higher levels of training and marketing for its sales force."
About U.S. Bancorp
U.S. Bank is a subsidiary of U.S. Bancorp (NYSE:USB). With $195 billion in assets, U.S. Bancorp is the 6th largest financial holding company in the United States. The company operates 2,370 banking offices and 4,620 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is home of the Five Star Service Guarantee in which the company pays customers if certain key banking benefits and services are not met. Visit U.S. Bancorp on the web at usbank.com.
About Symetra Financial
Symetra Financial works in partnership with agents, advisors and financial institutions providing annuities, life insurance, group employee benefits and retirement plans to customers throughout the United States. Symetra Life Insurance Co. (est. 1957), a wholly owned subsidiary, has grown to a company with 2 million customers and more than $21 billion in GAAP assets.
3 For more information, visit www.symetra.com. Life Insurance and annuities are issued by Symetra Life Insurance Co. 5069 154th Pl. NE Redmond, WA 98052.
1 Withdrawls may be subject to ordinary income tax and a 10% penalty may also apply to amounts withdrawn prior to age 59 ½.
2 Guarantees and benefits are subject to the claims paying ability of the underlying insurance company.
3 March 31, 2005 financial statements.
