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Symetra debuts longevity product.

Symetra Life Insurance Co. has Munched a product that enables buyers to use a small portion of current savings to buy guaranteed income beginning late in life. The company said its Freedom Income Annuity would cost a 65-year-old client about $31,000 now to generate $2,500 monthly for life beginning 20 years later, but the single premium at age 85 would be $185,000 at today's rates. Optional features include a death benefit, an annual payment increase and an installment refund.
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Title Annotation:Life; Symetra Life Insurance Co.
Publication:Best's Review
Article Type:Brief article
Date:Aug 1, 2008
Words:82
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