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.1
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: 55 years old, Non-Nicotine
50 years old, Nicotine
Policy sizes
$100,000 - $5 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.2
Premium paying period
Until age 95
Conversions3
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 are no restrictions on the use of proceeds of this accelerated death benefit.
Value Added Benefit4
Because we know how difficult losing a loved one can be, Symetra has partnered with Empathy to offer your beneficiaries help after you’re gone. On-demand, personalized services include guidance with grief, closing accounts, probate and estate questions, and more.
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
FAQ
Product and process questions
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 your customer portal. This should happen within five minutes of receiving your first [rpayment.
How do I update my beneficiaries?
Many states require you to fill out a form to change your beneficiary. For more information, contact the SwiftTerm Customer Care Center at 1-833-447-9438 or send us a message.
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. For more information, click the links below, or contact the SwiftTerm Customer Care Center at 1-833-447-9438 or send us a message.
Secondary addressee
NJ Secondary addressee
NY Secondary addressee
Can I grant someone else access to my policy?
Yes. You can set up a third-party authorization and grant a trusted third-party access to your account. For more information, contact the SwiftTerm Customer Care Center at 1-833-447-9438 or send us a message.
Can I change ownership?
Yes. Please contact your insurance professional or the SwiftTerm Customer Care Center at 1-833-447-9438 or send us a message.
How do I cancel my policy?
You can cancel your coverage for any reason during the life of the policy if you decide you no longer want it. Contact the SwiftTerm Customer Care Center at 1-833-447-9438 or send us a message.
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 a minimum face amount), but you will need to buy a new policy if you want to increase your coverage. Optional for-cost riders are only available for purchase at policy issuance.
What happens when my term ends? For instance, what if I buy a 20-year term policy and am still living after 20 years?
You will be notified that the term period is ending and you 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.
Can I take money out of my policy?
Sorry, no. Term life insurance does not have cash value or an option for withdrawing or borrowing money.
Billing and payment questions
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. You may pay via Automated Clearing House (ACH) (a network that transfers money between banks). You may also pay by credit card if your policy’s face amount is $500,000 or less. 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.
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 in 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 in 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 in premium payments each year (including additional payment charges)
$24 total additional payment charges each year
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. The policy effective date is your draft date.
How do I change my billing information?
Log in to our portal and go to the Payments and Billing tab to change your bank or credit card information.
Why is my premium amount different from the estimate 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 it puts you in a particular rate class. The estimate your insurance professional 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. Ask your insurance professional to review the difference with you.
What does it mean when my policy is in a grace period?
It means you have missed or skipped a premium payment. In most states, 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.
Customer service
How do I file a claim?
Contact the SwiftTerm Customer Care Center at 1-833-447-9438.
What if I can't log in or access my account?
Click on the log in button in the top right of the screen and follow the instructions.
What changes can I make to my account online?
- Address changes
- Secondary addressee updates
- Phone number changes
- Billing and payment method changes
Contact your insurance professional if:
- Things change.
- If your financial situation changes, talking to your insurance professional may be a great place to start. Our Customer Care Center is also available to assist.
- 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. Our Customer Care Center is available to assist at 1-833-447-9438 or send us a message.
- If your premium differs from the estimate you received from your financial professional.
- Some of your information is wrong on your application.
- You have additional questions.
Need additional assistance?
If you have additional questions, contact the SwiftTerm Customer Care Center at 1-833-447-9438.
Want to get started?
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 numbers: Accelerated Death Benefit for Terminal Illness form number ICC20_LE5 and Value Added Benefit Endorsement form number ICC22_LE8.
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.
Services and/or benefits offered under the Value Added Benefit Endorsement are not insurance and are subject to change. For more information, please contact Symetra at www.symetra.com or by telephone at 1-800-796-3872. There are additional requirements associated with participation in any non-insurance services and/or benefits. Terms and conditions may vary, and it may not be available in all U.S. states or any U.S. territory. If any service is discontinued or if we cease to offer a service, we may in some instances substitute a reasonably comparable service. If we deem that there is no reasonably comparable service, we may discontinue the specific service.
This is not a complete description of the Symetra SwiftTerm policy. For a more complete description, please ask your insurance professional.
1 Depending on your answers during the application process, you may travel down one of three underwriting paths—instant coverage, accelerated underwriting or full underwriting. The typical coverage turnaround time is about 18 minutes for instant coverage, 24-72 hours for accelerated underwriting and 30 days for full underwriting.
2 The premium paying period will continue until age 95 if you choose to continue payments beyond your initial level term period.
3 Partial conversions are allowed, but please note the remaining term coverage will terminate.
4 Services offered through an agreement with Empathy. Empathy is not a part of Symetra. Empathy's bereavement services and platform are provided through an agreement with The Empathy Project, Inc., (doing business as Empathy). Empathy is not an affiliate of Symetra Life Insurance Company (Symetra), and the services Empathy provides are separate and apart from the insurance provided by Symetra. This program is available to beneficiaries. Not available on all policy forms or in all jurisdictions. Empathy is only available to beneficiaries who are U.S. residents. Information disclosed directly to Empathy is not disclosed to Symetra, and therefore is not covered by Symetra's privacy policy.
SwiftTerm® is a registered service mark of Symetra Life Insurance Company.
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