Permanent life insurance
Symetra Accumulator VUL
Symetra Accumulator VUL is a variable universal life (VUL) insurance product that can help provide for your family or business—and protect your future.
What do we mean by variable universal life?
This type of policy combines the protection of life insurance with the potential to accumulate [policy value] for future financial goals through a variety of professionally managed [portfolio options].
Portfolio options are designed to focus on specific investment objectives or to duplicate the performance of specific market [indexes]. The policy value in your portfolio options has the potential to increase or decrease based on daily movements of the market.
Accumulator VUL provides flexibility and control to help meet several needs.
Why consider Accumulator VUL?
The foundation of a sound financial strategy includes the protection of life insurance.
With Accumulator VUL, you can help protect your family or business—and your own financial future.
• Insurance protection: When you die, the death benefit Accumulator VUL pays to your beneficiaries is generally free of federal income and estate taxes,1,2 which preserves more for their future needs.
• Wealth building potential: You have control over your policy’s portfolio options based on your financial objectives, timeframes and risk preference. The growth potential of your portfolio options is only limited by the market performance of the options you choose.
• Flexibility: Included and optional riders allow you to customize your policy to your personal or business needs. Riders can provide living benefits if the insured becomes unexpectedly ill or becomes totally disabled and unable to work.
I want protection for my family or business.
• Accumulator VUL pays death benefit proceeds to help preserve your family’s lifestyle, enhance your legacy, or ensure an efficient transfer of your business.
• You can choose a level death benefit throughout the policy or an increasing death benefit that can help protect against the effects of inflation on your beneficiaries’ benefit over time.
• The policy includes a guarantee that can prevent your policy from lapsing. The duration of the no-lapse guarantee varies by the insured’s age at issue.3
I want options that can help me build wealth.
• A portion of each premium payment goes into professionally managed portfolio options that you select and have potential to grow. Any growth is generally tax-deferred,4 which helps you keep more of what you accumulate.
• You and your registered representative can determine the asset allocation that you feel is right for you and adjust them as your priorities change.
• Dollar-cost averaging and [automatic account rebalancing] are available at no cost to help manage the impact of market fluctuations and keep your financial strategy on track.
I want flexibility in case my needs change.
• You can adjust your coverage amount and premium payments to fit your family or business needs.5
• You can access your money now or in the future through withdrawals and loans—usually income-tax-free.6
• Accelerated death benefit riders can provide access to the policy’s death benefit, with no restrictions on the use of proceeds.
I don’t want any surprises. What else should I know?
• Your initial and subsequent net premium payments (the balance after charges are deducted) are used to purchase units at the current market price and comprise a portion of your policy value. The policy value in your accounts has the potential to increase or decrease based on daily market fluctuations.
• Various policy riders you elect may include charges. Some riders may be included at no additional cost.
• Skipping premiums, reducing the amount of premiums paid, and taking loans and withdrawals may reduce or eliminate the death benefit payable to your beneficiaries.
• The policy contains a free-look period in which you can examine your policy and cancel it for a refund. If you decide to cancel your policy anytime after the free-look period, you will receive your [net cash surrender value].
This is a high-level overview of Symetra Accumulator VUL so you can get a sense of whether it might work for you. This is not a complete description. Please ask your registered representative for a more complete description of the product.
Next steps
Talk with your registered representative to see if Symetra Accumulator VUL is right for you.
Before investing, carefully consider the investment objectives, risks, charges, and expenses. The policy’s value allocated to the subaccounts will fluctuate. Variable life insurance involves fees and charges such as administrative charges, expense charges, cost of insurance charges, variable policy value charges, premium charges, surrender charges, underlying fund expenses, and, if applicable, transfer processing fees or withdrawal processing fees, which are explained in the prospectus. This and other information are contained in the policy prospectus and the underlying portfolio prospectuses. Please contact a registered representative or Symetra for free copies of the prospectuses or visit www.symetra.com for an online copy. Please read them carefully before investing.
Past performance is no guarantee of future returns. The investment return and principal value of an investment will fluctuate, and units, when redeemed, may be worth more or less than their original cost.
Securities are offered through Symetra Securities, Inc. (SSI). Member, FINRA.
Symetra Accumulator VUL is a flexible-premium adjustable variable life insurance policy issued by Symetra Life Insurance Company (SLIC). SSI and SLIC are affiliates and are located at 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004-5135. Each company is responsible for its own financial obligations. This policy is not available in all U.S. states or any U.S. territory; where available, it is usually issued under policy form number ICC21_LC1.
Policy riders are not available in all U.S. states or any U.S. territory, and terms and conditions may vary by state in which they are available.
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.
Certain benefits or riders may have tax implications. You should consult with your legal or tax professional prior to purchasing.
Life insurance policies contain exclusions, limitations, reductions of benefits and terms for keeping them in-force. Please contact your registered representative for complete details.
Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.
Withdrawals or loans on modified endowment contracts (MECs) may be subject to federal income tax and an additional 10% tax on amounts taken prior to age 59½.
Withdrawals or loans may not be allowed in certain situations. Amounts withdrawn will decrease the policy death benefit and may be subject to a withdrawal processing fee. Loans may have a permanent effect on the policy, even if repaid.
Variable policy value, monthly administrative and monthly expense charges are subject to change without notice.
The terms “portfolio option” and “subaccount” are used interchangeably in Symetra Accumulator VUL marketing pieces.
This is not a complete description of the Symetra Accumulator VUL policy. For a more complete description, please ask your registered representative.
1In most instances, life insurance proceeds are not subject to federal income taxes.
2If the policy is properly structured in a trust outside of an estate, the proceeds are also free of federal estate taxes. A trust should be drafted by an attorney familiar with such matters. Failure to properly structure could result in adverse treatment of trust proceeds. Symetra Life Insurance Company does not provide tax advice.
3As long as total premiums paid to date, less any withdrawals made and loan indebtedness is at least greater than the accumulated no-lapse guarantee premium, the policy will not terminate before the no-lapse guarantee expiry date, even if the net surrender value is insufficient to cover the monthly deductions.
4Tax-deferred growth is subject to taxation when withdrawn. Units may be worth more or less upon withdrawal than when purchased. Please refer to your policy prospectus.
5Increases are available after year one and will incur policy charges. Decreases may be requested after the first policy year. The specified amount may not be decreased below 25% of the initial specified amount and may not be less than the minimum specified amount for the rate class. If issued at $100,000, no reduction in specified amount is allowed.
6Withdrawals and loans may reduce or eliminate the death benefit payable to your beneficiaries. In general, policy loans are charged interest; they are usually not taxable. If a policy lapses or is surrendered, the loan becomes immediately taxable to the extent of the gain in your policy. Withdrawals are taxable only when you take more money out of the policy than you’ve paid in premiums. If your policy becomes a Modified Endowment Contract (MEC), less advantageous tax provisions apply. The tax treatment of a loan with a net charge of zero is unclear and could be averse to the policyowner.
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