Symetra Select Max Fixed Annuity is an individual modified single-premium fixed deferred annuity issued by Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004. Contract form number is ICC21_RC1 in most states. Products, endorsements, features, terms and conditions may vary by state and may not be available in all U.S. states or any U.S. territory. 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. Market value adjustment endorsement form number is ICC21_RE2 in most states. Interest Crediting endorsement form number is ICC21_RE3 in most states. Free Withdrawal endorsement form number is ICC21_RE4 in most states. 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 the issuing life insurance company. The Nursing Home and Hospitalization Waiver is not available in all states. Withdrawal charges are waived after 30 days of confinement in a nursing home or hospital, and up to 90 days after release. There is a one-year waiting period if already confined in a hospital or nursing home on the first contract day. The Terminal Illness Waiver is not available in all states, and the features and provisions may vary by state. Surrender charges may be waived if the owner is diagnosed with a terminal illness and not expected to live more than 12 months. The owner may not be diagnosed with the terminal illness as of the contract date. Market value adjustment feature does not apply in California. A market value adjustment feature (MVA) is a positive or negative adjustment that may apply when all or a portion of the contract value is withdrawn. An MVA will apply to a withdrawal of more than the free annual withdrawal amount of the contract value in a contract year during the withdrawal charge period. 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 MVA can never cause cash surrender value to be less than the guaranteed minimum value. After the withdrawal charge period, no MVA applies. 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 Select Max Annuity. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Symetra Select Max Fixed 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. Required minimum distribution (RMD) rules apply to traditional IRAs and IRA-based plans such as SEPs, SARSEPs, SIMPLE IRAs, 401(k) plans, 403(b) plans, and 457(b) plans. They do not apply to Roth IRAs while the owner is alive. Generally, RMDs from Individual Retirement Annuities (IRAs) are required for each year following the year in which you attained the “required beginning date,” as defined by the IRS. If you die before annuity payments begin, the entire balance of the annuity contract must be distributed to the beneficiary within ten years. There is an exception when the beneficiary is a surviving spouse, a child who has not reached the age of majority, a disabled or chronically ill person, or a person not more than ten years younger than you. The 10-year rule applies regardless of whether the IRA owner dies before, on, or after the required beginning date. Consult your attorney or tax professional for more information. Tax-qualified contracts such as IRAs, SEPs, SARSEPs, SIMPLE IRAs, 401(k) plans, 403(b) plans, and 457(b) plans, 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 decisions. Products and services vary by distributor. For interest rate information, contact your financial professional or insurance producer. This is not a complete description of Symetra Select Max Fixed Annuity. For a complete description, please ask your financial professional or insurance producer for a copy of the Contract Summary.
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 Select Max SM is a service mark of Symetra Life Insurance Company.
Made with FlippingBook - Share PDF online