SwiftTerm® Life Insurance
What does SwiftTerm offer?
Symetra SwiftTerm offers affordable term life insurance protection that's fast, easy and online.
Pick from terms of 10, 15, 20 and 30 years—and get coverage in as little as 18 minutes.
SwiftTerm Facts
Basics
Term periods
10, 15, 20 or 30 years
Level premiums
Premiums are guaranteed not to change for the coverage term period.
Rate classes
Super Preferred Non-Nicotine
Preferred Non-Nicotine
Standard Non-Nicotine
Preferred Nicotine
Standard Nicotine
Minimum issue age
20 years old
Maximum issue age by term
10-year term: 60 years old
15-year term: 60 years old
20-year term: 60 years old
30-year term: 50 years old
Policy sizes
$100,000 - $3 million
Renewals
After the term period expires, the policy will automatically renew at annually increasing premiums until you are 95 years old, unless you cancel it.1
Premium paying period
Until age 95
Conversions
You can request to convert your SwiftTerm policy to a permanent policy that we offer in your state of residence. Conversions may be requested prior to the end of the 10th policy anniversary or the policy anniversary following your 70th birthday, whichever is earlier.
Included benefits
Accelerated Death Benefit for Terminal Illness
Up to 75% of the policy's death benefit ($500,000 maximum) can be accessed in advance if a licensed physician certifies that you are terminally ill with less than 12 months to live. The benefit is paid to you in a lump sum. There is no restriction on the use of proceeds of this accelerated death benefit.
Interested?
Key advantages
- Financial protection for your family
- Quick and easy online application process
- Affordable, predictable premiums
- Customizable to fit your needs
- Flexibility if your needs change
What else should I know?
Considering SwiftTerm®
What is the primary benefit of SwifTerm?
SwiftTerm helps protect your family if something happens to you. As long as you make your payments on time to keep your policy in force, your beneficiaries will receive the money promised in your policy (known as the death benefit). It’s generally free of federal income tax.
What other benefits are possible with SwiftTerm?
You may be able to access money from your policy early if you are diagnosed with a terminal illness. Up to 75% of the policy’s death benefit ($500,000 maximum) can be accessed in advance if a licensed physician certifies that you are terminally ill with less than 12 months to live. (24 months in some states.) The benefit is paid to you in a lump sum. This is included in your policy.
Will my payments stay the same?
With SwiftTerm, you’ll never have to guess what you have to pay. Once your coverage is in effect, your payments won’t change during the term period you choose.
What if my needs change?
You may pay via Automated Clearing House (ACH)--a network that transfers money between banks. (ACH payments typically come from checking accounts; if you want yours to come from a savings account, we recommend asking your bank first as not all banks accommodate this request.) Depending on your coverage amount, you also may have the option to pay by credit card.
If your financial situation changes, in most cases you can decrease your coverage amount.
If your needs change and you decide that you want permanent life insurance (which is insurance that could last your full lifetime and can accumulate cash value) you can request to convert your policy to a permanent product offered by Symetra.
SwiftTerm has a 30-day money-back guarantee, called a Free Look Period. If you change your mind within 30 days of getting the policy, just let us know and you can get a full refund.
You can cancel your coverage if for any reason during the life of the policy you decide you no longer want it.
What happens when my term ends? For instance, what if I buy a 20-year term policy and I am still living after 20 years?
You will be notified that the term period is ending and can continue your coverage or choose to cancel it. If you cancel, no further premiums will be charged and your coverage will end. If you don’t cancel, your policy will automatically renew until age 95 at annually increasing premiums.
Is there anything else that I should know?
You must be 60 or younger to purchase SwiftTerm.*
Skipping or missing premiums will result in a cancellation of your policy.
When you apply, you could be approved for coverage in as little as 18 minutes. However, depending on your answers to health questions, the approval process could take longer.
After the term period you select ends, you can continue your coverage but premiums will increase.
*Not all coverage term periods are available at all ages.
Who do I contact if I have questions?
Contact your Freedom insurance professional.
SwiftTerm application process
Can I change the date my premium is withdrawn (drafted) from my account?
No. The bank draft date is locked once the policy is active.
Can I increase or decrease the amount of coverage in the future?
You may decrease your coverage after you’ve had your policy for a year, subject to the minimum policy face amount. If you want to increase your coverage, you will need to buy a new policy.
What premium payment methods does Symetra accept?
Automated Clearing House (ACH) --a network that transfers money between banks (Note: ACH payments typically come from checking accounts; if you want yours to come from a savings account, we recommend asking your bank first as not all banks accommodate this request.)
Mastercard, Discover or Visa are available for policy face amounts under $500,000
Why is my premium amount different from the quote I got from my insurance professional?
When determining your premium payment, we look at a number of factors, including your health and finances. This process is referred to as underwriting and puts you in a particular rate class. The quote you were provided was developed by anticipating which class you might be in. But, based on the actual information you provided during the underwriting process, your premiums may end up higher or lower.
If I change my mind after I purchase insurance, can I get a refund?
If you cancel your coverage within 30 days, you will get a full refund. This is called your Policy Free Look Period.
Contact the SwiftTerm Customer Care Center within 30 days of policy issue if you want to cancel your coverage.
My name is misspelled on the application. What do I do?
Contact your Freedom insurance professional, who can help correct the error.
My birthdate is wrong on the application. What do I do?
Contact your Freedom insurance professional, who can help correct the error.
When does my coverage start?
Coverage starts immediately after we receive your first premium payment.
How and when will I receive my policy?
You will be notified when a PDF of your policy is available on our portal. This should happen within 2 days of receiving your payment.
What are my payment options?
We have a variety of payment schedules to suit your needs. You can choose to pay on a monthly, quarterly, semi-annual or annual basis. Depending on your coverage amount, you also have the option to pay by credit card or via Automated Clearing House (ACH) --a network that transfers money between banks. (ACH payments typically come from checking accounts; if you want yours to come from a savings account, we recommend asking your bank first as not all banks accommodate this request.) Paying on a monthly, quarterly or semi-annual schedule may cost a little more than if you pay annually, because of the increased collection costs associated with more frequent payments.
If your payment schedule is other than annual, your total premiums will be more than if you made a single, annual payment. Below are some examples of how that may break out using today's calculations. For policies already purchased, please refer to your policy.
Comparison of premium payment schedules and their additional yearly costs based on a hypothetical annual premium of $1,200
Annual premium payment schedule
1 premium payment per year
$1,200 premium payment
$1,200 total premium payment each year
$0 additional payment charges each year
Semi-annual premium payment schedule
2 premium payments per year
$612 each premium payment (including additional payment charges)
$1,224 total of premium payments each year (including additional payment charges)
$24 total additional payment charges each year
Quarterly premium payment schedule
4 premium payments per year
$306 each premium payment (including additional payment charges)
$1,224 total of premium payments each year (including additional payment charges)
$24 total additional payment charges each year
Monthly premium payment schedule
12 premium payments per year
$102 each premium payment (including additional payment charges)
$1,224 total of premium payments each year (including additional payment charges)
$24 total additional payment charges each year
What’s the difference between a primary and contingent beneficiary?
A primary beneficiary is the person you have elected to receive your death benefit. The contingent beneficiary will only receive your death benefit if the primary beneficiary is deceased when the insured passes away. You can name more than one person as a primary or contingent beneficiary.
Why can’t I change my beneficiaries online?
Many states require you to fill out a form to change your beneficiary. For more information, contact SwiftTerm Customer Care Center at 1-833-HiSwift (option 3) or contact@swifttermlife.com.
What is a secondary addressee?
You have the option to designate someone who will get copies of the same notices we send to you. The secondary addressee is someone you choose to receive copies of any grace, lapse or reinstatement notices.
How can I contact Symetra?
Call the SwiftTerm Customer Care Center at 1-833-HiSwift.
How do I log in to the SwiftTerm portal?
Click on the Log in button in the top right of the screen and follow the instructions.
What if I have problems logging into the portal?
Contact the SwiftTerm Customer Care Center at 1-833-HiSwift.
Already a SwiftTerm policyholder
My policy doesn't look right. What do I do?
Contact the SwiftTerm Customer Care Center at 1-833-HiSwift.
Can I grant someone else access to my policy?
Yes. You can set up a third-party authorization. Be sure any third party you grant access to is known and trusted by you.
How do I change my billing information?
Log in to our portal and go to the Payments and Billing tab to change your information.
Can I change ownership?
Yes. Please contact your Freedom insurance professional or the SwiftTerm Customer Care Center at 1-833-HiSwift.
How do I cancel my policy?
Contact the SwiftTerm Customer Care Center at 1-833-HiSwift.
If I cancel my policy, do I receive money back?
If the date you cancel is within your 30-day Free Look Period, you will receive a full refund.
If you are outside the 30-day Free Look Period and already paid premium that applies beyond the month of your cancellation, we will refund that unused premium. For example, if you decided to cancel in the second month of your policy, but already paid the annual mode of premium, we will refund you the excess amount.
Can I increase or decrease the amount of coverage in the future?
In most cases you can decrease your coverage after the first policy year (subject to the minimum policy face amount), but you will need to buy a new policy if you want to increase your coverage.
Can I take money out of my policy?
Sorry, no. Term life insurance does not have a cash value or an option for withdrawing or borrowing money.
How do I or my beneficiaries make a claim if the insured passes away?
Contact the SwiftTerm Customer Care Center at 1-833-HiSwift.
Can I change the Insured on the policy?
Sorry, no. You would need to buy a new policy if you want to insure someone else.
What does it mean when my policy is in a grace period?
It means you have missed or skipped a premium payment. We allow a 31-day grace period for payment of premiums. During this time you will still be covered by the policy. If your premium isn’t paid before the end of the grace period, your coverage will cease as of the premium due date.
If you have additional questions, contact the SwiftTerm Customer Care Center at 1-833-HiSwift.
Want to get started?
Insurance products are offered through the licensed insurance agency named in this material.
SwiftTerm® is a registered service mark of Symetra Life Insurance Company.
Symetra SwiftTerm is a term life insurance policy issued by Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004. Policy form number is ICC20_LC1 in most states. Not available in all U.S. states or any U.S. territory.
Policy riders are not available in all states, and terms and conditions may vary by state in which they are available. Where available, they are usually issued under the following form number: Accelerated Death Benefit for Terminal Illness form number ICC20_LE5.
A rider is a provision of the policy that may have additional costs, limitations, potential benefits and features that should never be confused with the base policy itself. Before evaluating the benefits of a rider, carefully examine the policy to which it is attached.
Policy rider availability may vary by distribution partner.
Life insurance policies contain exclusions, limitations, reductions of benefits and terms for keeping them in-force. Please contact your insurance professional for complete details.
Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.
Certain benefits or riders may have tax implications. Consult with your legal or tax professional prior to purchasing.
The Accelerated Death Benefit for Terminal Illness Rider is available for issue ages 20-60 and is not available on rated policies.
Receipt of an accelerated death benefit may be taxable. Consult with your personal tax or legal professional before exercising this rider. You may also lose your right to receive certain public funds such as Medicare, Medicaid, Social Security, Supplemental Security Income (SSI), and possibly others. The accelerated death benefit is intended to qualify under section 101(g) (26 U.S.C. 101(g)) of the Internal Revenue Code. The death benefit will be reduced if an accelerated death benefit is paid. There is no restriction on the use of proceeds of these accelerated death benefits.
Although proceeds of life insurance are generally received income-tax-free by beneficiaries, estate and local taxes may apply. Consult your attorney or tax professional for more information.
Conversion to a permanent product may not be available in all states. Conversion is also not available if an accelerated death benefit was exercised on the policy.
This is not a complete description of the Symetra SwiftTerm policy. For a more complete description, please ask your insurance professional.
1 The premium paying period will continue until age 95 if you choose to continue payments beyond your initial level term period.
The insurance distributor named in this document is an insurance agency who represents multiple companies.