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SYMETRA SELECT MAX
Control over your money Select Max is a retirement product, and if you purchase a contract, you should be committed to the long term. However, Select Max also offers flexibility for accessing that money if unforeseen circumstances require it, including:
Free annual withdrawals
Required minimum distributions
Nursing home and hospitalization waiver If you spend 30 consecutive days in a nursing home or hospital, all withdrawal charges and market value adjustments (MVAs) are waived. You have up to 90 days after leaving a facility to request a qualifying distribution. 2
Terminal illness waiver After the first year,
You can withdraw the accumulated interest in your contract (less any accumulated interest withdrawn previously) each contract year with no charges. This amount is calculated at the time of your first withdrawal during that contract year.
If the annuity contract is held within an IRA that is subject to required distributions (RMDs) after the “required beginning date”, 1 you can withdraw amounts up to your annual RMD with no charges.
withdrawal charges and MVAs are waived if you are diagnosed with a terminal illness. 2
Benefits for your beneficiaries Death benefit When you purchase your annuity, you’ll also name primary and contingent beneficiaries for your contract. Upon your death, your beneficiaries will receive the greater of: • The contract value (which does not reflect any current withdrawal charge or Market Value Adjustment (MVA), if applicable 3 ); • The cash surrender value (reflecting any applicable withdrawal charge and MVA 3 ); or • The guaranteed minimum value. Flexibility for spousal beneficiaries If your spouse is named as the primary beneficiary or joint owner, they may continue the contract rather than collect the death benefit. If the spouse continues the contract, any withdrawal charges and MVAs in the future are waived. 4 This spouse continuation option may only be used once.
1 As defined by the IRS. 2 M ay vary by state. Not available in CA. Please see your contract for details.
3 M arket Value Adjustment (MVA) is explained on the following page. MVA is not applicable in CA. 4 S pousal benefits and rights described here may be subject to Internal Revenue Code provisions.
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