Symetras New Annuity Opens the Door to a Lifetime of Retirement Income
BELLEVUE, Wash. — (November 17, 2005) — Symetra
SM Life Insurance Co. has introduced a new annuity for a retirement planning model designed to help retirees reduce the danger of outliving their retirement savings. The new
Symetra Income Builder Annuity, a 10-year period certain annuity, features guaranteed payments for 10 years and an automatic one-time payment increase beginning in payment year six. As part of
The Income for Life ModelTM, the product can help ensure stable, inflation-adjusted income that lasts a lifetime.
The
Symetra Income Builder Annuity forms the foundation of
The Income for Life ModelTM, a simple money management solution that enables retirees to turn a portion of their savings into income they can depend on over the course of retirement. This model takes a 25 plus year forward view of retirement that includes asset allocation and strategic investment recommendations with the objective to provide a lifetime of inflation-adjusted income.
As an annuity, the product’s set payments offer a secure source of income that, unlike many other products, are not subject to the effects of market volatility and are guaranteed not to decrease in value. The reliability of returns in
The Income for Life ModelTM is particularly important, given that inflation threatens to diminish the savings of today’s retirees.
Over the past 30 years, the consumer price index—a key inflation indicator—increased by an average of 4.6 percent a year
1. Using historical returns,
The Income for Life ModelTM has an 83 percent probability of achieving an average rate of return of 7.07 percent over a 25-year period
2. With some 95 percent of employees currently taking lump-sum distributions from their 401(k) accounts when they retire
3, retirees need an alternative for ensuring their savings last over the course of retirement. The
Symetra Income Builder Annuity and The Income for Life Model
TM give retirees the ability to convert their savings into a predictable, steady income stream that they can count on in the future.
More information about the
Symetra Income Builder Annuity is available online at www.symetra.com or by calling
1-800-706-0700.
About Symetra Financial
Symetra Financial is a family of companies with nearly a half-century of experience providing retirement plans, employee benefits, annuities and life insurance through independent distributors nationwide. The company has more than $20 billion in assets
4 and is owned by an investor group led by White Mountains Insurance Group, Ltd. and Berkshire Hathaway Inc.
For more information, visit Symetra Financial's Web site at www.symetra.com.
1 Federal Reserve Bank of Minneapolis, Consumer Price Index (Estimate) 1800-2005, Economic Research and Data page: http://minneapolisfed.org/Research/data/us/calc/hist1800.cfm
2 Income for Life Model Probability 1955-2004, Ibbotson 2005 Yearbook.
3 From the article entitled: “Making 401(k)s Last by Offering Annuities”, By Jessica Marquez, in the August 2005 edition of Workforce magazine, which can be found at this link: http://www.workforce.com/section/02/feature/24/13/64/241369.html
4 Source: Total GAAP assets per closing statements of December 31, 2004
Guarantees and benefits are subject to the claims-paying ability of the underlying insurance company. Symetra Income Builder Annuity is issued by Symetra Life Insurance Company, 777 108th Ave NE, Suite 1200, Bellevue, WA 98004. Contract form number in most states is LIA-47 12/04 or LIA-61MR 7/05. Not available in all states.
Symetra® and the Symetra Financial logo are registered service marks of Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004.
The Income For Life ModelTM is a trademark of Wealth2k, Inc. and Philip G. Lubinski, LLC. © Copyright 2005. All rights reserved.
