Striking a balance between risk and reward
March 26, 2019 — BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Life Insurance Company, a leading fixed annuity provider, has launched Symetra Treksm, an individual, single-premium deferred annuity with index-linked interest options, including the proprietary PIMCO Equity Fusion Index. The newest addition to Symetra’s broad product suite joins the fastest-growing category in the annuities space as Q4 sales of registered indexed-linked annuities topped $3 billion, an increase of more than 10 percent over the prior year.1
“Symetra Trek seeks to strike a balance between risk and reward for clients who want growth potential tied to equity returns, but with limited exposure to downside risk. It offers multiple features—no annual fees, strong liquidity features, two downside protection options and five index choices, including the exclusive PIMCO index—all packaged in a Symetra VTS2 way,” said Kevin Rabin, vice president of Retirement Products. “Symetra’s collaborative approach to product development to meet our partners’ evolving needs is one of our core strengths. Trek expands our commitment to offer registered representatives and their clients additional choices by providing transparent, flexible options that are designed to add value and fit the needs of today’s retirement marketplace.”
Symetra Trek features include:
- Growth potential—Opportunities for clients’ money to grow based on the performance of up to five market indexes, up to a cap.
- Downside protection—Two downside protection options — “buffer” and “floor” — provide limited protection from market losses.
- Access to money—Clients can make free annual withdrawals of up to 15 percent of their contract value or the total interest earned, whichever is greater, for the first six years.
- No surprises—There are no annual fees.
Symetra developed a microsite for financial professionals which includes a virtual reality feature. Symetra Trek Swift Notes offers a high-level product overview and links to additional resources, including rates and the prospectus.
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 agents and advisors. For more information, visit www.symetra.com.
1 LIMRA Secure Retirement Institute, Fourth Quarter 2018 U.S. Retail Annuity Sales Survey (Feb. 20, 2019) https://www.limra.com/Posts/PR/News_Releases/LIMRA_Secure_Retirement_Institute__Total_Annuity_Sales_Have_Best_Quarter_in_Nearly_10_Years.aspx
2 Symetra At-A-Glance, VTS, “Our success as a business is guided by the principles of Value, Transparency and Sustainability, or VTS.” https://www.symetra.com/globalassets/catalog/sym—1001.1.pdf