Permanent life insurance

 

Symetra UL-G

 

Symetra UL-G is a universal life (UL) insurance product with a no-lapse guarantee (G).

What exactly does this mean?

Universal life: This type of policy provides permanent life insurance coverage that can help efficiently transfer wealth to your beneficiaries.

No-lapse guarantee: As long as you pay your premiums exactly as [illustrated] and no unscheduled loans or withdrawals are taken, your benefits are guaranteed by us and your coverage will remain in place as you planned—regardless of interest rate changes or other factors.

Symetra UL-G can preserve and potentially create greater wealth for your beneficiaries.

How can I provide as much money to my family as possible if something happens to me?

•  Symetra UL-G can provide a death benefit to your beneficiaries that is generally free of federal income-tax to help preserve their lifestyle after you’re gone.

•  If properly structured as part of a trust,1 the proceeds are also generally free of federal estate taxes.

How can I make sure my coverage won’t lapse?

•  Symetra UL-G's lapse-protection benefit guarantees that your policy will stay in-force as long as premiums are paid on time, exactly as illustrated, no unscheduled loans or withdrawals are taken, no increases are made to the face amount and the death benefit option isn't changed.

•  Protection is guaranteed by us regardless of interest rate changes and other factors beyond your control.

Can I access my money if my needs change?

•  If chosen when you buy the policy and for an additional cost, the optional Return of Premium (ROP) [rider] allows you to get up to 100% of your paid premiums back at the end of the 20th or 25th policy year if you no longer need coverage. We’ll even send you a reminder when the option becomes available.

•  If you’re facing a terminal illness or cognitive impairment, you can access a portion of your death benefit in advance to cover medical expenses or other costs—or to simply make the most of your remaining time.

Can I leave additional money to a favorite charity?

•  If selected at the time of application, the Charitable Giving Benefit [rider] provides an additional 1% of your policy’s death benefit (up to $100,000) to a qualified charity2 of your choice.

I don’t want any surprises.

•  Symetra UL-G is designed more for efficient wealth transfer than [cash value] accumulation. Accessing your cash value could reduce or eliminate the benefit of the lapse-protection benefit.

•  If you are unable to make premium payments, your death benefit may no longer be guaranteed (loans and withdrawals will also negatively affect these guarantees).

•  [Riders] you select may include additional charges.

•  If you cancel your policy, any surrender or other charges will be subtracted from the money you receive. These charges could be substantial, so talk to your insurance professional before deciding.

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

Next steps

Ask your insurance professional if life insurance is right for you.

Symetra UL-G is a flexible-premium universal life insurance policy issued by Symetra Life Insurance Company, 777 108th Ave NE, Suite 1200, Bellevue, WA 98004. This policy is not available in all U.S. states or any U.S. territory; however, where available, it is usually issued under policy form number ICC14_LC2.
The Lapse Protection Benefit, form number ICC13_LE5 or ICC14_LE7, is not available in all states and terms and conditions may vary by state in which it is available. Insurance coverage will continue as long as the Lapse Protection Benefit remains in effect. Note that any increase in the policy’s face amount after issue will terminate the Lapse Protection Benefit.
The Return of Premium (ROP) Rider, form number ICC15_LE5, is an optional rider offered at an additional charge. Under this Rider, if a full surrender is requested during an ROP Access Period, we will pay an amount equal to the greater of the Net Cash Surrender Value and the ROP Value. In order to qualify for the benefit, the Rider must be in effect an in a ROP Access Period and all eligibility requirements must be met.
Policy riders are not available in all U.S. states or any U.S. territory; where available, they are usually issued under the following policy form numbers: Chronic Illness Rider form number ICC15_LE1, Terminal Illness Rider form number ICC15_LE2, Chronic Illness Plus Rider form number ICC15_LE4, Accidental Death Benefit form number ICC11_LE2, Additional Term Rider form number ICC11_LE3, and Charitable Giving Benefit form number ICC11_LE5.
Prior to the start of any ROP Access Period, we will send a communication with available options. The Return of Premium (ROP) Rider is available for all insured at age 70 and under that are rated no more than Table 4, flat extra of $3 for 5 years, or have any combination of table rating and flat extra. The ROP benefit is designed to return 100% of the cumulative paid premiums reduced by any withdrawals, loans and outstanding loan interest. The ROP benefit will not exceed the face amount of the policy. For Nicotine users and rated policies, the ROP benefit will not exceed 50% of the face amount of the policy. The Return of Premium (ROP) Rider is not available without the Lapse Protection Benefit (LPB) Rider. If the LPB is terminated or any portion of the death benefit is accelerated, the ROP will also terminate.
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.
Life insurance policies contain exclusions, limitations, reductions of benefits and terms for keeping them in-force. Please call your insurance professional for complete details.
Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.
The death benefit is guaranteed provided certain conditions are met.
Although proceeds of life insurance are generally received free of federal income-tax by beneficiaries, estate and local taxes may apply. Consult with your attorney or tax advisor for more information.
1The trust must have a provision to purchase life insurance as a trust investment and the trustee should have authority to purchase insurance on the life of the grantor(s).
2Only available on policies with a face amount of $100,000 or more. Payment is 1% of the original base policy face amount, to a maximum of $100,000, regardless of whether or not the policy face amount has been increased. If the policy face amount has been decreased, 1% of the remaining base policy face amount is paid. The charity must be designated at the time of policy issue and qualify under federal tax code sections 170(c) and 501(c). If the charity is not operating at the time of the insured’s death, we may allow the estate to direct proceeds to another qualified charity.