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.|
|Article Type:||Brief article|
|Date:||Aug 1, 2008|
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