BELLEVUE, Wash.--(BUSINESS WIRE)--Symetra Life Insurance Company posted record total annuity sales during the second quarter 2015 — exceeding $1 billion in quarterly annuity sales for the first time. Symetra’s fixed indexed annuities (FIAs) also posted record sales, with the highest quarterly production figures since the product launched in April 2011.
“Symetra’s milestone quarter of FIA and traditional fixed annuity sales was driven by new product launches and our continued expansion and increased penetration of the bank and broker-dealer distribution network,” said Dan Guilbert, executive vice president of Symetra’s Retirement Division. “Indexed annuities were the quarter’s growth engine, and we’re pleased that the latest additions to our FIA suite — Symetra Edge Plus(SM) and Symetra Edge Premier(SM) — are resonating with advisors and their clients.”
Introduced in March 2015, Symetra Edge Plus Fixed Indexed Annuity and Symetra Edge Premier Fixed Indexed Annuity are designed to help meet the needs of today’s retirement customers, who are looking for ways to protect their money but still want some opportunity for growth potential. Both Edge Plus’s and Edge Premier’s indexed account options, including the JPMorgan ETF Efficiente 5(SM) Index, provide a selection of interest crediting opportunities based on indexes composed of a diverse array of asset classes, including domestic and foreign equities and more.
To help sustain growth, Symetra’s Retirement Sales team has expanded its wholesaling support, adding six wholesalers since January 2015, four of whom are focused on broker-dealers as part of the division’s ongoing expansion in the channel.
Symetra Edge Plus is available through select banks and broker-dealers. For more information about Symetra Edge Plus, Symetra Edge Premier and other Symetra annuity products, call the Symetra Retirement Sales Desk at 1-800-706-0700.
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation (NYSE: SYA), a diversified financial services company based in Bellevue, Wash. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent agents and advisors. For more information, visit www.symetra.com.
Symetra Edge Plus Fixed Indexed Annuity and Symetra Edge Premier Fixed Indexed Annuity are individual single premium fixed indexed deferred annuities with a market value adjustment feature. In Oregon, Symetra Edge Plus Fixed Indexed Annuity and Symetra Edge Premier Fixed Indexed Annuity are issued as an individual single premium fixed indexed deferred annuity with a market value adjustment feature. Annuities are issued by Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004. Contract form number is RSC-0415 1/14 in most states. In Oregon, contract form number is RSC-0415/OR/NQ2 1/14.
This is not a complete description of Symetra Edge Plus Fixed Indexed Annuity and Symetra Edge Premier Fixed Indexed Annuity. See the Contract Summary describing Symetra Edge Plus Fixed Indexed Annuity and Symetra Edge Premier Fixed Indexed Annuity for a more complete description.
Annuity contracts have terms and limitations for keeping them in force. Please call your insurance producer or advisor for complete details.
Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.
Symetra Edge Plus Fixed Indexed Annuity and Symetra Edge Premier Fixed Indexed Annuity have fixed and indexed accounts. Interest credited to indexed accounts is affected by the value of outside indexes. Values based on the performance of any index are not guaranteed and may increase or decrease. The contract does not directly participate in any outside investment.
Indexed interest is calculated and credited (if applicable) at the end of an annual interest term. This means amounts withdrawn from the indexed account before the end of the annual interest term will not receive indexed interest for that term.
It is not possible to invest in an index.
If the contract is being funded with multiple purchase payments, i.e. 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.
Except for the JPMorgan ETF Efficiente 5 Index, the performance of an index does not reflect the payment or reinvestment of dividends.
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.
The JPMorgan ETF EfficienteSM 5 (“JPM ETF Efficiente Index”) has been licensed to Symetra Life Insurance Company (the “Licensee”) for the Licensee’s benefit. Neither the Licensee nor Symetra Edge Plus nor Symetra Edge Premier (the “Products”) are 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 Products. Such persons should seek appropriate professional advice before making any investment. The JPM ETF Efficiente Index has been designed and is compiled, calculated, maintained and sponsored by JPMS without regard to the Licensee, the Products or any contract owner. JPMorgan is under no obligation to continue compiling, calculating, maintaining or sponsoring the JPM ETF Efficiente Index. JPMorgan may independently issue or sponsor other indices or products that are similar to and may compete with the JPM ETF Efficiente Index and the Products. JPMorgan may also transact in assets referenced in the 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 JPM ETF Efficiente Index and the Products.
Products and features vary by distributor.
Symetra® is a registered service mark of Symetra Life Insurance Company. Symetra Edge PlusSM and Symetra Edge PremierSM are service marks of Symetra Life Insurance Company.