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Symetra Life Insurance Company
Protection and growth potential for your retirement
Symetra Edge Elite SM Fixed Indexed Annuity WITH OPTIONAL ENHANCED PARTICIPATION RATE ACCOUNTS
Not a bank or credit union deposit, obligation or guarantee May lose value Not FDIC or NCUA/NCUSIF insured Not insured by any federal government agency
FAM 1565
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A quick product overview
Edge Elite offers potential to take your retirement to a higher level.
What is Edge Elite? Let’s break it down.
Edge Elite is a single-premium fixed indexed annuity.
Let’s take a closer look at what this means.
Growth potential based on the JPMorgan ETF Efficiente® 5 Index, the Putnam Dynamic Low Volatility Excess Return Index TM and the S&P 500® Index.
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Annuity
An annuity is a contract between you and an insurance company. The idea is pretty simple. You put money in. It accumulates interest. It pays you back later. “Paying you back” can happen in several ways. One option is to take money out as a monthly payment for the rest of your life.
Your money can grow over time
And pays you back later
Fixed indexed
“Fixed indexed” describes how the annuity’s interest is calculated. This interest can be a fixed rate or based on the performance of a market index .
Fixed rate
Market index
Single-premium
You purchase the annuity with a single payment .
You make a single payment
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Edge Elite can help you with your retirement goals.
I want my money to have the potential to grow.
• Credited interest is based on a fixed rate or a market index, subject to a participation rate or cap. • The participation rate is a percentage of the index’s performance, and the cap is the highest percentage you can earn in any given interest term. • Any interest you earn is determined at the end of each interest term and will grow through compounding. • Enhanced participation indexed rate accounts (“enhanced accounts”) provide more growth potential through higher participation rates (but an annual charge applies). • Your money grows tax-deferred (it’s not taxed until you take it out).
I want access to my money if I need it.
• During the initial contract period (the “withdrawal charge” period), you can withdraw up to 10% of your contract value each contract year without being charged. • You can surrender your contract at any time and get your money back (subject to market value adjustments or “MVAs” and withdrawal charges, and minus any previous charges or withdrawals). 1 • Any withdrawals taken from the indexed account before the end of an interest term will not earn interest. • After the withdrawal charge period, MVAs and withdrawal charges no longer apply. • There may be other ways to access your money if your health changes. See page 13 for details.
1 Market Value Adjustment does not apply in CA.
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A quick product overview
I don’t want to lose money.
Principal protection
• Your contract value won’t decline due to market performance.
• We guarantee that you’ll get back at least the money you put in at the end of the withdrawal charge period (minus any withdrawals or taxes). • If you die, your beneficiaries will receive any remaining contract value.
Growth potential
I don’t want any surprises. What else should I know?
• Fixed interest rates, participation rates and caps are reset at the end of each account’s interest term, so they may vary from term to term. • Participation rates for the enhanced accounts are guaranteed for the withdrawal charge period. • There may be interest terms where you earn no interest if the index you choose doesn’t increase or if it declines. • Federal income taxes may apply to withdrawals, including an additional 10% tax if you withdraw money before age 59½. If you have questions, you should consult with an attorney or tax professional. • Edge Elite provides a “free-look period,” which means you can cancel your contract and receive a full refund within 30 days of receiving the contract.
Tax deferral
Built for the long-term Fixed indexed annuities (FIAs) are designed to be long-term insurance products. They’re built for people who want to protect and grow their retirement savings.
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SYMETRA EDGE ELITE FIXED INDEXED ANNUITY
You worked for your retirement. Now let it work for you.
SYMETRA EDGE ELITE FIXED INDEXED ANNUITY
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Protect it, grow it, and fund your lifestyle
As your retirement approaches, you want to ensure that the savings you’ve worked for will support the retirement you envision.
Edge Elite can help you resolve these questions:
Can my money continue to grow in retirement?
What if I need to access my money sooner than expected?
Let’s learn more.
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SYMETRA EDGE ELITE FIXED INDEXED ANNUITY
How can Edge Elite help my money grow?
Your account choices Edge Elite allows you to choose from accounts linked to market indexes and an optional fixed account. This provides opportunities to grow your money and maintain the lifestyle you want.
Indexed accounts earn interest based on the performance of a market index. An index is a financial tool that tracks the value of a specific collection of securities. In other words, it is a measurement of investment value—not an investment itself. If the index value goes up from the beginning to the end of the interest term, you’ll receive interest based on a participation rate or up to a declared cap (upper limit). The participation rate credits your contract a percentage of the total index’s performance over a specified interest term.
Indexed accounts
1
Indexed accounts with enhanced participation rates
For an additional charge, these indexed accounts provide higher participation rates that are guaranteed not to change during the withdrawal charge period.
2
See page 10 for more information about the charge.
Fixed account
The fixed account earns interest at a fixed rate that is declared at the beginning of each interest term.
3
Flexibility to transfer between accounts: You can transfer money between your fixed account and/or any indexed accounts at the end of each 1- or 2-year interest term. Indexed Account availability may vary by Distributor. Additional Indexed Account options may be available to you at the end of your interest term. Consult with your Financial Professional or Registered Representative for more information.
Hypothetical participation rates and caps in action
How the participation rate works: Index performance
How the cap works:
Interest credited
Participation rate
Interest credited
Index performance
Cap
Index performance greater than cap Index performance less than cap
Positive index performance Positive index performance Negative index performance
10%
50%
5%
10%
4%
4%
7%
50% 3.5%
2%
4%
2%
Negative index performance
-5%
50%
0%
-5%
4%
0%
Indexed interest is calculated and credited (if applicable) at the end of each interest term. Any amounts withdrawn from an indexed account before the end of the interest term will not receive interest for that term.
SYMETRA EDGE ELITE FIXED INDEXED ANNUITY
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Your index choices
This industry-leading, multi-asset-class index seeks to generate returns by utilizing a diverse array of exchange-traded funds (ETFs) and a cash index. In an attempt to dampen its up and down movements, the index rebalances monthly to create an asset mix with the best recent returns for a given level of risk. This dynamic index pursues attractive returns with a focus on managing volatility and avoiding unwanted surprises. It combines three kinds of asset classes: U.S. stocks with better risk-adjusted return potential than the market average, U.S. Treasury bonds for stability and diversification, and cash to mitigate downside risk. The index has rules that seek to manage risk. On a daily basis the index can flex and rebalance, targeting volatility centered around 5%. Widely regarded as the best single gauge of large-cap U.S. equities, this world-renowned index includes 500 of the top companies in leading industries of the U.S. economy.
JPMorgan ETF E iciente® 5 Index
1
Putnam Dynamic Low Volatility Excess Return Index™
2
S&P 500 Index®
3
Indexed interest crediting Interest credited to indexed accounts is determined by comparing the value of the index at the beginning of the 1- or 2-year interest term to its value at the end of the interest term. Interest is credited based on a participation rate or up to a cap, depending on which index you choose.
End date
Interest term start date
Chart is for illustrative purposes only.
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SYMETRA EDGE ELITE FIXED INDEXED ANNUITY
Looking for additional growth potential?
Enhanced participation rate accounts
Our enhanced accounts o er higher participation rates in exchange for an annual charge. With higher participation rates, your accounts have potential to grow at a higher rate than our other account options.
Hypothetical indexed account crediting – traditional and enhanced
Annual charge The annual charge is a percentage of the starting indexed account value and is deducted at the end of the interest term after any interest has been credited. Renewal participation rates Enhanced account participation rates are guaranteed not to change for the withdrawal charge period, leaving no surprises when your interest term renews. Guardrail Enhanced accounts are available for renewal or transfer as long as your contract value is greater than 97% of your purchase payment (less any withdrawals). This helps protect your contract value from declining due to the charge if the index does not experience positive growth. If the contract value drops below the 97% threshold, any amount allocated to these accounts will be automatically transferred to the traditional indexed account with the same index, but without a charge. If the traditional indexed account is not available, the amount will be transferred to the fixed account. Once the contract value returns to an amount above the 97% threshold, the enhanced accounts will again be available for allocations at the end of the interest term after any interest is credited upon request. Return of purchase payment* At the end of the withdrawal charge period, we guarantee that your contract value will at least equal your original purchase payment, minus any withdrawals and applicable withdrawal charges. If your contract value is lower than your purchase payment, we will add additional funds to the fixed account.
Putnam 2-year enhanced account
Putnam 2-year account
Annual charge
0%
1%
Participation rate
150%
200%
Hypothetical average annual return
7.3%
8.63%
Growth of $100,000 purchase payment
$202,356.78 $228,737.83
Hypothetical chart assumes no withdrawals and the last 10 calendar years (through 2022) of Putnam Low Volatility Excess Return Index performance. It is not intended to project or predict the future performance of any specific investment. Participation rates are subject to change. Please see a current Edge Elite rate sheet or ask your financial professional for a list of available enhanced accounts and associated rates and charges.
* Provided by the Guaranteed Minimum Accumulation Benefit Rider in your contract.
SYMETRA EDGE ELITE FIXED INDEXED ANNUITY
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Putting your choices together
You have a total of 14 account options: 13 indexed account options and a fixed account. You’ll tell us exactly how you want your money allocated at the time of purchase.
Allocating your purchase payment You’ll decide the percentage to allocate to each account, adding up to 100%. Choose between any combination of the 13 indexed accounts and the fixed account.
Indexed options
Fixed option
JPMorgan ETF E iciente® 5 1-year
2-year
%
Cap
Fixed Account
%
%
Participation rate
Enhanced participation rate
%
%
%
• Your initial fixed account interest rate is declared for one year and is subject to change in subsequent years. • Your interest rate will never be lower than the minimum interest rate stated in your contract. Indexed Account availability may vary by Distributor. Additional Indexed Account options may be available to you at the end of your interest term. Consult with your Financial Professional or Registered Representative for more information.
Putnam Dynamic Low Volatility Excess Return™ 1-year 2-year Cap %
Total 100% Minimum purchase payment: $25,000
%
%
Participation rate
Enhanced participation rate
%
%
S&P 500®
1-year
2-year
%
Cap
%
%
Participation rate
• Your initial cap or participation rate is declared for one or two years (depending on which option you choose) and is subject to change in the following interest terms for all accounts except the enhanced accounts. • Your cap will never be lower than the guaranteed minimum indexed interest cap stated in your contract. • Your participation rate will never be lower than the minimum participation rate stated in your contract.
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SYMETRA EDGE ELITE FIXED INDEXED ANNUITY
Starting your interest term Your initial interest term begins on the e ective date of your contract.
Protection from market declines Your contract value is protected from losing value due to market performance.
A word about taxes* In some instances, you won’t pay income taxes on any interest credited to your annuity until you actually take out money in the form of a withdrawal or annuity payments. You might be in a lower tax bracket at that time, helping you to keep more of what you earned. * Qualified and nonqualified annuities are subject to di erent tax treatment. Qualified annuities are subject to required minimum distribution rules. Consult your attorney or tax professional for more information.
SYMETRA EDGE ELITE FIXED INDEXED ANNUITY
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What if I need access to my money sooner than expected?
While Edge Elite is designed for the long term, we recognize that circumstances can change and you may still need access to your money.
Free annual withdrawals You can withdraw up to 10% of your contract value each contract year without paying withdrawal charges or MVAs. If you withdraw more than 10% during the withdrawal charge period, a withdrawal charge and MVA may apply to the amount over 10%. Nursing Home and Hospitalization Waiver If you’re confined to a nursing home or hospital for at least 30 consecutive days, we’ll waive your withdrawal charges and MVAs. We’ll also waive those charges and MVAs for up to 90 days after your release. Additional requirements are explained in the annuity contract. This waiver is not available in all states.
Terminal Illness Waiver If you are diagnosed with a terminal illness after your contract is issued, we’ll waive withdrawal charges and applicable MVAs after your first contract year. Additional requirements are explained in your contract. This waiver is not available in all states. Annuitization Anytime after your first contract year and before your 96th birthday, you may convert your contract value to an income stream that pays you over a specific period of time or for your lifetime.
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SYMETRA EDGE ELITE FIXED INDEXED ANNUITY
Market value adjustment *
Other features and benefits
Withdrawal charge schedule The first five or seven years of your contract are called the “withdrawal charge period.” During this time, if you withdraw more than the 10% free withdrawal amount, you will pay a withdrawal charge on the excess amount, unless a waiver applies. The withdrawal charge decreases during your contract term as follows: In all states except California:
If you withdraw money from your contract during the withdrawal charge period, a market value adjustment (MVA) may apply. The MVA does not apply to the 10% free withdrawal feature. • 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 U.S. Corporate Bond Index yield between the contract effective date and the day the withdrawal is taken. • After the withdrawal 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 that is 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 withdrawal charges and MVAs may affect contract and cash surrender values.
5-year schedule
Contract year
1 2 3 4 5 6+
Charge 9% 9% 8% 7% 6% 0%
7-year schedule
Contract year
1 2 3 4 5 6 7 8+
Charge 9% 9% 8% 7% 6% 5% 4% 0%
In California: 5-year schedule
Contract year
1
2 3 4 5 6+
Charge 8.3% 8% 7% 6% 5% 0%
*MVA does not apply in California.
7-year schedule
Contract year
1
2 3 4 5 6 7 8+
Charge 8.3% 8% 7% 6% 5% 4% 3% 0%
Death benefit Upon your death, your beneficiaries will receive the greatest of: • The contract value (which does not reflect any current withdrawal charge or MVA). • The cash surrender value (reflecting any applicable withdrawal charge and MVA). • Your original purchase payment, adjusted for withdrawals.
SYMETRA EDGE ELITE FIXED INDEXED ANNUITY
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Important information
Symetra Edge Elite is an individual single- premium fixed indexed deferred annuity issued by Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004. Contract form number is ICC19_RC1 in most states. Guaranteed Minimum Accumulation Benefit Rider form number is ICC20_RE1. Market value adjustment endorsement form number is ICC19_RE7 in most states. Terminal illness waiver endorsement form number is ICC19_RE3 in most states. Hospital and Nursing Home waiver endorsement form number is ICC19_RE2 in most states. Fixed account endorsement form number is ICC19_RE4 in most states. Point to point with cap crediting method endorsement form number is ICC19_RE5 in most states. Point to point with participation rate crediting method endorsement form number is ICC19_RE6 in most states. Point to point with participation rate and charge crediting method endorsement form number is ICC20_RE3 in most states. A rider is a provision of the annuity with potential benefits and features that should never be confused with the annuity itself. Before evaluating the benefits of a rider, carefully examine the annuity to which it is attached. Products, riders, endorsements, features, terms and conditions may vary by state and may not be available in all U.S. states or any U.S. territory. Annuity contracts have terms and limitations for keeping them in force. Contact your financial professional or insurance producer for complete details. Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company. Symetra Edge Elite has fixed and indexed accounts. Interest credited to the indexed accounts is affected by the value of outside indexes. Values based on the performance of any index are not guaranteed. The contract does not directly participate in any outside investment. The indexed accounts with enhanced participation rate will incur an annual charge that will reduce the contract value, and do not guarantee performance any greater than the indexed accounts without a charge.
Indexed interest is calculated and credited (if applicable) at the end of an interest term. Amounts withdrawn from the indexed account before the end of an interest term will not receive indexed interest for that term. If the contract is being funded with multiple purchase payments (e.g., 1035 exchanges), funds will be held and the contract will not be issued until all purchase payments have been received. Interest is not credited between the dates the purchase payments are received and the date the contract is issued. The purchase payment will begin to earn interest (if any) when the contract is issued. Except for the JPMorgan ETF Efficiente ® 5 Index and the Putnam Dynamic Low Volatility Excess Return Index, the performance of an index does not include the payment or reinvestment of dividends in the calculation of its performance. It is not possible to invest in an index. Symetra reserves the right to add or remove any index or indexed interest crediting method options. If any index is discontinued or if the calculation of any index is changed substantially, Symetra reserves the right to substitute a comparable index. Market value adjustment does not apply in CA. If the MVA reference rate is not published for a particular day, Symetra will use the MVA reference rate as of the prior business day. If the MVA reference rate is no longer available or discontinued, Symetra may substitute another comparable method for determining the MVA reference rate. “Bloomberg ® ” and US Intermediate Corporate Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by Symetra Life Insurance Company. Bloomberg is not affiliated with Symetra Life Insurance Company, and Bloomberg does not approve, endorse, review, or recommend Symetra Edge Elite Fixed Indexed Annuity. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating
to Symetra Edge Elite Fixed Indexed Annuity. Withdrawals may be subject to federal income taxes, and a 10% IRS early withdrawal tax penalty may also apply for amounts taken prior to age 59½. Consult your attorney or tax professional for more information. Tax-qualified contracts such as IRAs, 401(k)s, etc., are tax-deferred regardless of whether or not they are funded with an annuity. If you are considering funding a tax-qualified retirement plan with an annuity, you should know that an annuity does not provide any additional tax-deferred treatment of earnings beyond the tax-qualified plan or program itself. However, annuities do provide other features and benefits such as death benefits and income payment options. Contracts not owned for the benefit of natural persons, e.g., contracts owned by trusts, corporations or certain other entities, are generally not treated as annuities for federal income tax purposes and any interest are taxed as ordinary income in the current year. Exceptions may apply. Prospective Owners that are not natural persons should consult their tax professionals before purchasing the Contract. Neither Symetra Life Insurance Company nor its employees provide investment, tax, or legal advice or endorse any particular method of investing. Please consult your attorney or tax professional before making savings and investing decision. The contract provides a guaranteed minimum value upon surrender, death, or annuitization. Please see your contract or ask your financial professional or insurance producer for a current rate sheet for more details, or contact us at 1-800-796-3872. This is not a complete description of Symetra Edge Elite Fixed Indexed Annuity. For a complete description, please ask your financial professional or insurance producer for a copy of the Contract Summary.
Index disclosures
The JPMorgan ETF Efficiente ® 5 Index (“JPMorgan Index”) has been licensed to Symetra Life Insurance Company (the “Licensee”) for the Licensee’s benefit. Neither the Licensee nor Symetra Edge Elite (individually, the “Product”) is sponsored, operated, endorsed, recommended, sold or promoted by J.P. Morgan Securities LLC (“JPMS”) or any of its affiliates (together and individually, “JPMorgan”). JPMorgan makes no representation and gives no warranty, express or implied, to contract owners in or those otherwise taking exposure to the Product. Such persons should seek appropriate professional advice before making any investment. The JPMorgan Index has been designed and is compiled, calculated, maintained and sponsored by JPMS without regard to the Licensee, the Product or any contract owner. JPMorgan is under no obligation to continue compiling, calculating, maintaining or sponsoring the JPMorgan Index. JPMorgan may independently issue or sponsor other indices or products that are similar to and may compete with the JPMorgan Index and the Product. JPMorgan may also transact in assets referenced in the JPMorgan Index (or in financial instruments such as derivatives that reference those assets). These activities could have a positive or negative effect on the value of the JPMorgan Index and the Product. The Putnam Dynamic Low Volatility Excess Return Index (the “Index”) is the property of Putnam Investments, LLC, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Index. The Index is not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, “S&P Dow Jones Indices”). Neither Putnam Investments, LLC nor S&P Dow Jones Indices will be liable for any errors or omissions in calculating the Index. Putnam Dynamic Low Volatility Excess Return Index ™ is a trademark of Putnam Investments, LLC. “Calculated by S&P Dow Jones Indices” and the related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by Putnam Investments, LLC. S&P ® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”), and Dow Jones ® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”).
The S&P 500 ® Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Symetra Life Insurance Company (“Symetra”). S&P ® , S&P 500 ® , US 500, The 500, iBoxx ® , iTraxx ® and CDX ® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones ® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Symetra. Symetra’s products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 ® Index.
Contact us
Symetra Retirement Sales Desk 1-800-706-0700 Weekdays
Symetra Life Insurance Company 777 108th Avenue NE, Suite 1200 Bellevue, WA 98004-5135 www.symetra.com Symetra® is a registered service mark of Symetra Life Insurance Company. Symetra Edge Elite SM is a service mark of Symetra Life Insurance Company.
6 a.m. to 5 p.m. PT 9 a.m. to 8 p.m. ET
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