| Product Summary |
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Symetra's Custom 7 Fixed Annuity allows the Client to lock in a guaranteed interest rate for a THREE year period. This product is based on a seven year surrender schedule and is principal guarantteed. Please see notes below for the tiered rate schedule. |
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| Principal Guarantee* |
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| Principal Guarantee: |
yes |
| MVA: |
no |
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| Rate Lock Policy |
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Rate locks are based on the applicaton signature date. Paperwork must be received within 5 business days of the application signature date. Cash must be received witin 5 business days of the application signature date. Transfers must be completed within 60 business days of the application signatre date. |
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| Surrender Schedule |
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| Year |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
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8 |
8 |
7 |
7 |
6 |
5 |
4 |
0 |
0 |
0 |
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| Contributions |
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| Max.: |
$1,000,000 |
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| Min. NQ: |
$10,000 |
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TSA 403b: |
no |
| Min. IRA: |
$10,000 |
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401(k): |
no |
| Min. add.: |
$1,000 only in yr 1 |
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| Add. Extend Surr.: |
no |
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| All IRAs: |
yes |
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| Liquidity Features |
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| Annual Free WD: |
10% starting in year 1 |
| Earnings: |
yes |
| Cumulative: |
no |
| Systematic: |
yes |
| Loan Provision: |
no |
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| Waivers |
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| Nursing Care: |
yes, after 30 days |
| Terminal: |
no |
| Disability: |
no |
| Unemployment: |
no |
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| Notes |
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The 3 year lock is further broken up into seperate rate brackets based on the overall amount of funds being used. Please see below for more specific rate information:
10k-49k: 1st year rate of 2.50%
Base Rate years 2-3 of 2.00%
Effective 3-year rate of 2.17%
50k-99k: 1st year rate of 2.50%
Base Rate years 2-3 of 2.00%
Effective 3-year rate of 2.17%
100k-249k: 1st year rate of 2.60%
Base Rate years 2-3 of 2.10%
Effective 3-year rate of 2.27%
250k+: 1st year rate of 2.65%
Base Rate years 2-3 of 2.15%
Effective 3-year rate of 2.32% |
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| Company Ratings |
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| AM Best: |
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A |
| S&P: |
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A |
| Moodys: |
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A3 |
| Fitchs: |
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A+ |
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| Current Rates (effective 07/26/2010) |
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| Current first year rate: |
2.65% |
| Includes first year bonus of: |
0.50% |
| Base Rate: |
2.15% |
| Length of rate guarantee: |
3 Years |
| Minimum guaranteed rate: |
2.00% |
| Average Yield: |
2.32% |
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| State Approval |
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AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
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| Age Restrictions |
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| Owner qualified $: |
90 |
| Owner non-qualified $: |
90 |
| Annuitant qualified $: |
90 |
| Annuitant non-qualified $: |
90 |
| Maturity Age: |
101 |
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| Owner/Annuitant Driven |
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Owner |
| Mailing Address |
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Overnight Address:
777 108th Ave. NE
Suite 1200
Bellvue, WA 98004
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