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SYMETRA SELECT MAX
Turn your annuity into a stream of income
While you can always take a lump sum withdrawal from your annuity (subject to applicable withdrawal charge rules), an important feature of annuities is their ability to be converted into a regular stream of income payments (known as annuitization). Such payments can provide a reliable source of income later in life. You may convert all or a portion of your Select Max contract value to an annuity payout option.
You’ll decide how you want to structure your income stream:
Payments over a set number of years.
Payments over your lifetime, no matter how long you live.
Payments over the lives of you and your joint annuitant.
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The amount of your payments is based on the terms you selected and the contract value at the time of annuitization. Typically, the longer the term of payments, the lower the amount paid. Payments can be received monthly, quarterly or annually.
As a source of income payments in retirement, Symetra annuities offer:
A reliable stream of income: Symetra guarantees regular payments to you in conjunction with the terms of your contract. Income that can’t be outlived: Annuity payments can continue for the rest of your life or the lives of you and your joint annuitant (usually a spouse). Tax deferral: Annuity payouts for nonqualified contracts are subject to tax, but a portion of each annuity payment is non-taxable.
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