New protection options, expanded index strategies offer retirement customers greater flexibility, choice and control
BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Life Insurance Company recently announced significant enhancements to its registered index-linked annuity (RILA) lineup with the introduction of Symetra Trek Destinations(SM), providing financial professionals and their clients with greater flexibility, expanded growth opportunities and a wider spectrum of downside protection options.
The enhancements reflect Symetra’s ongoing commitment to developing retirement solutions that help customers navigate changing market conditions while balancing growth potential and protection.
“Today’s retirement customers are looking for greater choice in how they participate in market opportunities while managing risk,” said Kevin Rabin, senior vice president, Retirement Products. “Trek Destinations offers financial professionals more ways to tailor solutions to their clients’ individual goals, risk tolerance and retirement timelines.”
Key enhancements include:
- New 6-Year 1% Buffer Option—A new 6-year account with a 1% buffer expands the range of protection choices. With buffer options now ranging from 1% to 100%, customers can select a level of downside protection that aligns with their preferences for growth potential and risk management.
- New Partial Return Lock Flexibility—A new Partial Return Lock feature gives customers additional control over gains with the ability to lock in a portion of an indexed account’s value while keeping the remaining balance positioned for potential growth opportunities. The partial locked amount will grow at a fixed rate and at the end of the term assets may be reallocated among available renewal options.
- Simplified Renewal Structure—Trek Destinations’ streamlined design updates renewal accounts so that all multi-year renewal accounts conclude at the end of year six, creating a more straightforward experience for customers and financial professionals.
- Expanded Index and Crediting Strategy Choices—New index and crediting strategy variations broaden the available indexed account options, allowing financial professionals and their clients to better align allocations with investment objectives, risk tolerance and market outlook.
- Lower First-Year Surrender Charge—The first-year surrender charge has been reduced to 8%, enhancing liquidity while maintaining access to annual free withdrawals equal to the greater of 15% of contract value or accumulated interest earned.
- More Frequent Allocation Opportunities—Allocation dates have increased from twice monthly to four times per month, enabling customers to put assets to work sooner after purchase.
“With Trek Destinations we have expanded the ways clients can customize their retirement strategy and take advantage of market opportunities with confidence. Equally important, we’ve redesigned our Financial Professional digital tools to make using these features and benefits even easier,” said Andrew Farrell, senior vice president, Retirement Marketing, Sales and Distribution.
About Symetra Trek Destinations
Symetra Trek Destinations is a registered index-linked annuity designed to provide growth potential tied to the performance of selected market indexes while offering a level of protection against market losses. Clients can choose from multiple indexed accounts and protection options and retain flexible access to their assets through annual withdrawals, annuitization options and beneficiary death benefit features.
About Symetra
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation, a diversified financial services company based in Bellevue, Washington. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent financial professionals and insurance producers. For more information, visit www.symetra.com.
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