Fixed indexed annuities

 

Symetra Edge Plus®

 

Edge Plus is a fixed indexed annuity (FIA) designed to help grow and protect your retirement savings. It is meant to be a long-term product and comes in versions with five- or seven-year [surrender charge periods].

Edge Plus can help with your retirement goals.

I want my money to grow.

•  Any interest you earn is determined each year and will grow through [compounding] over time.

•  If the market [index] you choose goes up, your indexed account can be credited interest.1

•  The minimum amount you can get back from your annuity is guaranteed to grow at least 1% per year if held through the [surrender charge period] without withdrawals.

•  Your money grows tax-deferred (it’s not taxed until you take it out).

I want my money sooner than expected.

•  You can take out up to 10% of the money in your contract each year for the first five or seven years (depending on whether you selected a five- or seven-year surrender charge period) free of [surrender charge].

•  You can take out more than 10% in the surrender charge period, but the amount you take out will be subject to a [market value adjustment (MVA)] and a surrender charge. A market value adjustment can be a positive or negative adjustment to the amount taken out.

•  You can also surrender your contract during the surrender charge period and get your money back (subject to MVA and surrender charges, and minus any previous withdrawals).

•  After the five- or seven-year [surrender charge period], MVA and surrender charges no longer apply.

I don’t want to lose money.

We guarantee that you will get back the money you put in, plus any interest paid (subject to [MVA] and [surrender charges], and minus any previous charges or withdrawals).

•  If you die, your beneficiaries will receive any remaining money in your contract.

•  Because you are not actually invested in the market, you will never lose money due to market declines.

I don’t want any surprises.

•  Any interest you earn based on a [market index] is limited by a “cap” (the top percentage you can earn in any given year) or a “margin” (a deduction from the amount of interest you earned). Fixed interest rates, caps and margins are reset annually, so the interest you earn will vary each [interest term].

•  There may be years where you earn no interest if the index you choose doesn’t increase or it declines.

•  You have a “free-look period,” which means you can cancel your contract and receive a full refund within 30 days of receiving your contract.

•  There are tax consequences for certain withdrawals. Check with your tax advisor before taking any withdrawals.

This is a high-level overview of Symetra Edge Plus so you can get a sense of whether it might work for you. This is not a complete description. Please ask your financial professional or insurance producer for a complete description of this product.

Next Steps

Symetra offers a variety of annuities. Ask your financial professional or [insurance producer] if an annuity is right for you.

Symetra Edge Plus is an individual single-premium fixed indexed deferred annuity with a market value adjustment feature. Annuities are issued by Symetra Life Insurance Company, 777 108th Ave NE, Suite 1200, Bellevue, WA 98004. Contract form number is ICC14_RC1 in most states. Product is not available in all U.S. states or any U.S. territory. Terms and conditions may vary.
Market value adjustment feature does not apply in all states.
Annuity contracts have terms and limitations for keeping them in force. Contact your financial professional or insurance producer for complete details.
Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.
Symetra Edge Plus Fixed Indexed Annuity has fixed and indexed accounts. Interest credited to the indexed accounts is affected by the value of outside indexes. Values based on the performance of any index are not guaranteed. The contract does not directly participate in any outside investment.
Indexed interest is calculated and credited (if applicable) at the end of an annual interest term. Amounts withdrawn from the indexed account before the end of an annual interest term will not receive indexed interest for that term.
If the contract is being funded with multiple purchase payments, e.g., 1035 exchanges, funds will be held and the contract will not be issued until all purchase payments have been received. Interest is not credited between the dates the purchase payments are received and the date the contract is issued.
An index may not include payment or reinvestment of dividends in the calculation of performance.
It is not possible to invest in an index.
Symetra reserves the right to add or remove any index or indexed interest crediting method options. If any index is discontinued or if the calculation of any index is changed substantially, Symetra reserves the right to substitute a comparable index.
A market value adjustment (MVA) is a positive or negative adjustment that may apply when all or a portion of the contract value is withdrawn. An MVA will apply to a withdrawal of more than 10% of the contract value in a contract year during the surrender charge period. It may also apply upon death or annuitization, but only if it results in a cash surrender value higher than the contract value that would otherwise be paid. A negative MVA can never cause cash surrender value to be less than the guaranteed minimum value. After the surrender charge period, no MVA applies.
If the MVA reference rate is not published for a particular day, Symetra will use the MVA reference rate as of the prior business day. If the MVA reference rate is no longer available or discontinued, Symetra may substitute another comparable method for determining the MVA reference rate.
Withdrawals may be subject to federal income taxes, and a 10% IRS early withdrawal tax penalty may also apply for amounts taken prior to age 59½. Consult your attorney or tax advisor for more information.
Tax-qualified accounts such as IRAs, 401(k)s, etc., are tax-deferred regardless of whether or not they are funded with an annuity. If you are considering funding a tax-qualified retirement plan or account with an annuity, you should know that an annuity does not provide any additional tax-deferred treatment of earnings beyond the tax-qualified plan or program itself. However, annuities do provide other features and benefits such as death benefits and annuity payment options.
Products and services vary by distributor.
1Interest paid is generally subject to either a cap (upper limit) or margin (deduction).