A quick product overview
I don’t want to run out of money.
Lifetime income
• O ur Signature Withdrawal Benefit, which can be elected by those aged 50 and older at the time of purchase, can guarantee steady income payments for life. This is explained in more detail on pages 14-16. • If you elect the withdrawal benefit, you can access any remaining contract value if you have an unexpected need, but this will reduce the amount you can withdraw each year and charges (such as withdrawal and withdrawal benefit charges and MVAs) may apply. • If you elect the withdrawal benefit, the 7% penalty-free amount is no longer available after lifetime withdrawals begin. • T here is an annual charge for the withdrawal benefit. • Y ou can cancel the withdrawal benefit after five years. If you do, the benefits it provides go away and previous charges will not be refunded. You cannot re-elect the withdrawal benefit after it’s canceled. • P age 15 describes the “benefit base” used to determine your guaranteed withdrawal amount. This is not the same as your contract value and may be higher than your contract value. Your cash surrender value, not your benefit base, is the value you would receive if you surrendered your contract.
Principal protection
Growth potential
I don’t want any surprises. What else should I know?
Tax deferral
• F ixed 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. • T here may be interest terms where you earn no interest if the index you choose doesn’t increase or if it declines. • F ederal 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. • S ymetra Stride provides a “free-look period,” which means you can cancel your contract and receive a full refund within 30 days of the contract receipt.
Built for the long-term Fixed indexed annuities (FIAs) are built to be long-term insurance products. A FIA with a withdrawal benefit is meant for people who want guaranteed income in retirement.
5
Made with FlippingBook - Share PDF online