Printer Friendly

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.
COPYRIGHT 2008 A.M. Best Company, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Life; Symetra Life Insurance Co.
Publication:Best's Review
Article Type:Brief article
Date:Aug 1, 2008
Previous Article:Income grows as years pass.
Next Article:AIG improves variable annuity.

Related Articles
Lincoln Upgrades Best-Selling Variable Universal Life Product.
A road less traveled: Symetra Financial, a spinoff bought by an investor group, exploits its advantages during its first two years.
Same stage, new roles: life reinsurers are being forced to find new roles, as direct life and annuity writers create new products, with or without...
Amazing race: designers of retirement products seek a competitive edge through product development.
Motivating the middle market: life insurers large and small have begun to crack the code on how to reach middle-income customers.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters