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Symetra Life Insurance

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Symetra Life Insurance

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Highlights
Financial Strength Rating A

Symetra Life Insurance Review

Symetra Life Insurance is a life insurance carrier based in Bellevue, WA. The company was founded in 1957 and offers life insurance products in 50 states (and Washington, DC).

Symetra Life Insurance FAQ

What types of life insurance products does Symetra Life Insurance offer?

Life insurance companies typically offer a wide variety of life insurance options. One of the best ways to save money on life insurance products is to avoid unnecessary coverage. Only purchase life insurance policies and riders you actually need.

Here is a brief description of life insurance options Symetra Life Insurance offers.

  • Term Life Insurance - This is the simplest type of life insurance policy. Term life insurance policies are payable if the insured person dies within a specific period of time, such as 5, 10, or 30 years. Symetra Life Insurance offers term lengths ranging from 10 to 30 years. Death benefit amounts range from $250,000 to $500,000.
  • Level Term Life Insurance - These are term life insurance policies that have the same fixed premium and payment amount through the duration of the life insurance policy.
  • Annual Renewable Term Life Insurance - Annual renewable term life insurance policies provide a constant death benefit for the duration of the term life insurance policy but the premiums are reassessed every year.
  • Variable Life Insurance - Variable life insurance are types of whole life insurance policies where the entire cash value of the life insurance policy is invested in several accounts. Therefore, the cash value of these whole life insurance policies rises and falls depending on the performance of the investments.
  • Universal Life Insurance - This type of universal life insurance policy guarantees a fixed death benefit and an investment account. The cash value of the investment account will vary depending on the portfolio's performance.
  • Variable Universal Life Insurance - These types of universal life insurance policies provides the most flexibility when it comes to investing the cash value of a universal life policy in separate accounts with "variable" values.
  • Indexed Universal Life Insurance - These types of universal life insurance policies allows policyholders to place the cash value of the life insurance policy in a fixed account or an equity index account, such as the S&P 500 or the Nasdaq 100.
  • Single Premium Whole Life Insurance - These types of whole life insurance policies lets the policyholder makes one large payment that guarantees a death benefit without the need of further premiums.

As well as the basic coverage types mentioned above, Symetra Life Insurance company also offers the following life insurance policies:

  • Group Life Insurance - Symetra Life Insurance offers some of its life insurance policies as a group benefit to employees who meet certain eligibility requirements, such as having worked for a month in the company. Typically, these term life insurance policies can only be adjusted or purchased after a qualifying life event, such as marriage or the birth of a child, or during an open enrollment period.
  • Survivorship Life Insurance - These types of joint universal life insurance policies cover two individuals and pays a death benefit to a beneficiary after both have died.

What is the financial strength rating of Symetra Life Insurance?

The financial strength rating of life insurance companies scores its ability to pay contracts and life insurance policies. SuperMoney gives Symetra Life Insurance an A or excellent, which is SuperMoney's second highest available score for life insurance companies.

SuperMoney's financial strength rating is primarily based on the average score from insurance rating agencies.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   777 108th Ave NE
    Suite 1200
    Bellevue, WA 98004 USA
  •   Visit Site

Other Services by Symetra

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Financial Strength Rating A
Life Insurance Features
  • Cash Value Loans
  • No Medical Exam Policies
Term Length 10 - 30
Term Life Age Range 20 - 80
Term Life Death Benefit Range $250,000 - $500,000
Term Options
  • Term Life
  • Level Term
  • Annual Renewable
Whole / Permanent Life Options
  • Variable Life
  • Universal Life
  • Universal (Variable)
  • Universal (Indexed)
  • Single Premium
Group Life Options
  • Group Basic Term Life Benefit
  • Group Supplemental Term Life Benefit
Life Insurance Riders
  • Accelerated Death Benefit (Critical or Chronic Illnesses)
  • Accelerated Death Benefit (Terminal Illnesses)
  • Accidental Death or Dismemberment / Double Indemnity
  • Additional Term Rider
  • Child Term Rider
  • Guaranteed Insurability / Renewability
  • Overloan Protection
  • Paid-Up Additions
  • Return of Premium
  • Term Conversion
  • Waiver of Premium Due to Illness / Disability

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