SYMETRA INCOME EDGE FIXED INDEXED ANNUITY
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Multiple ways to access your money
While Income Edge is designed for the long term, we recognize that circumstances change and you may still need access to your money.
Nursing Home and Hospitalization Waiver 1 We’ll waive your surrender charges and any MVAs if you’re confined to a nursing home or hospital for at least 30 consecutive days and for up to 90 days after your release. Additional requirements are explained in the annuity contract. This waiver is not available in all states. Annuitization Anytime after the first contract year, you can convert all or part of your contract value into an income stream that pays you over a specific period of time or for your lifetime. This will terminate the withdrawal benefit, unless you already terminated it prior to annuitizing.
Free annual withdrawals Until you begin taking lifetime withdrawals, you can withdraw up to 10% of your contract value each contract year without paying surrender charges or market value adjustments. If you withdraw more than 10% annually during the surrender charge period, a surrender charge and MVA will apply on the amount over 10%. 1 Any amounts withdrawn from an indexed account before the end of the interest term will not receive interest for that term (indexed interest is only credited at the end of each annual interest term). The 10% penalty-free amount is no longer available after lifetime withdrawals begin.
Market value adjustments* If you withdraw money from your contract during the surrender charge period, a market value adjustment (MVA) will apply. The MVA does not apply to the 10% free withdrawal feature before you begin lifetime withdrawals or to the maximum withdrawal amount after payments begin. • The adjustment will be either positive (a credit) or negative (a charge)—meaning the amount you receive will increase or decrease. The adjustment is based on the change in the Bloomberg US Intermediate Corporate Bond Index Yield between the day the contract was issued and the day the withdrawal is taken. • The MVA applies only if you withdraw money from your contract during the surrender charge period. After the surrender charge period, the MVA no longer applies. It may also apply upon death or annuitization, but only if it results in a cash surrender value higher than the contract value that would otherwise be paid. • A negative adjustment will never result in receiving less than the guaranteed minimum value. Please review your Contract Summary and/or Statement of Benefit Information at the time of purchase for specific examples of how surrender charges and MVAs may affect contract and cash surrender values.
* MVA does not apply in California.
1 Not available in all states. Terms and conditions may vary.
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