Want to know more about Symetra Life Insurance Company? Well, you came to the right place, here at InsureChance we have reviewed all top companies and work with the best ones. InsureChance is an independent life insurance brokerage, and we have a goal in mind, that is to make life insurance simple. Symetra Life has been around for exactly 60 years this year, has a high rating, and also offers a variety of products in which we go into detail.
- Symetra Life Insurance Company was founded in 1957.
- This past year they joined Sumitomo Life, a global life insurer and this year they celebrate their 60th year as a life insurance company.
- According to A.M Best, Symetra has an “A” also known as excellent and is third highest of 16 ratings. Standard & Poor’s rated Symetra an “A” also known as strong and is the sixth highest of 21 ratings. Moody’s rate Symetra an “A2” also known as good and is the sixth highest of 21 ratings. Lastly, Fitch Ratings rated Symetra an “A” also known as strong and is the sixth highest of 19 ratings.
- Symetra Life offers two types of life insurance and that is Term life and Permanent Life.
- Symetra has contributed to 797 charities nationwide and invested 4,261 hours by employees who perform volunteer service. 57.4% of their employees contribute to nonprofits through their campaign.
- The company is headquartered in Bellevue, Washington and employs over 1,400 employees across the country with additional locations in Iowa, and New York. Symetra and their subsidiary companies have near $35 billion in assets.
- The Better Business Bureau rates Symetra Life an ‘A+’ and according to their “BISRA Report” from Bank Insurance & Securities Research Associates, Symetra was the top 5 seller of fixed annuities through banks.
- When looking to get covered by the best company out there it is crucial to do research on the company such as we said before, their ratings are super important to make sure you don’t put your money into something that isn’t as stable as it should be.
- In order to find the best life insurance company, you have to invest a lot of your free time researching and comparing quotes, but let us save you the hassle so that you can use that time better and that’s being with your family. Leave it to our team to find you the most suitable coverage for you and your family members.
- Working with an independent life insurance brokerage has its perks, we work with over 60 top “A” rated companies but our loyalty is not with any ONE company, our loyalty is to our clients and what works the best for them.
History
Symetra Life Insurance Company was founded in 1957. The company pioneered medical stop loss in 1976 and it wasn’t until 1987 when they began to sell annuities through banks. In 1999 Symetra Life passed the $30 billion mark of life insurance in force. Symetra became an independent company ‘Symetra Financial Corporation’ in 2004 and in 2006 they began the Symetra Heroes in the Classroom program to honor K-12 teachers. This past year they joined Sumitomo Life, a global life insurer and this year they celebrate their 60th year as a life insurance company.
Symetra Review and Rating for 2017
Symetra Life Insurance Company has been around for exactly 60 years this year. The company offers life insurance and annuities. With more than 1.7 million active customers today and their fantastic ratings, some can argue that Symetra is one of the best life insurance companies out there. According to A.M Best, Symetra has an “A” also known as excellent and is third highest of 16 ratings. Standard & Poor’s rated Symetra an “A” also known as strong and is the sixth highest of 21 ratings. Moody’s rate Symetra an “A2” also known as good and is the sixth highest of 21 ratings. Lastly, Fitch Ratings rated Symetra an “A” also known as strong and is the sixth highest of 19 ratings.These ratings are by far great ratings for a company to have. As a consumer, you want to find the best company with the best price for you and your family. Just try to remember that this company may seem like the best one for you but maybe it doesn’t reflect your lifestyle and health, don’t worry there are much other fish in the sea.
Products
Symetra Life offers two types of life insurance and that is Term life and Permanent Life. Before we get into the company’s products we want to make sure you understand what these two different type of insurances mean. Term life plan provides protection for a limited period of time but is the most cost efficient form of life insurance. Permanent life insurance helps provide protection for your entire lifetime.
Symetra Term Life
- Most affordable life insurane option available.
- Term options are for 10, 15, 20, or 30 years.
- Level premiums are offered with this product which means that your rates are locked in.
- The plan comes with a conversion option if you decide you want to switch your term into a universal or whole life policy without any underwriting.
- If you get terminal illness you can get an advance on your death benefit to use while you still living.
Symetra UL-G Universal Life
- Flexible premiums to help accommodate your budget.
- This policy has a no-lapse guarantee.
- Death benefits are fixed.
- The interest rate is guaranteed to be no less than 2%.
- This product includes the Chronic Illness Rider which means that up to 50% of the policy’s death benefit can be accessed in advanced if during the prior 12 month period you are permanently unable to perform at least two of six activities of daily living.
- Also comes with terminal illness rider.
Symetra SUL-G Survivorship Universal Life
- Guaranteed death benefits with this policy.
- Estate planning and wealth transfer is also available.
- There is a lapse protection benefit which can ensure that the policy will be in force for as long as you’d like.
- Policy Split option riders are available after the initial two years.
Symetra Classic Universal Life Insurance
- Adjustable premium payments is beneficial in case your financial needs change.
- You can also adjust your policy’s face amount.
- Federal income tax is deferred while cash value grows.
- Accessible cash value to help you use as a future financial cushion.
- You can get a portion of your death benefit if you’re diagnosed with a chronic or terminal illness.
- Each net premium is guaranteed to earn a current interest rate for a 12 month period from the date the premium is received.
- The fixed interest rate is guaranteed to be no less than 2%.
- A no lapse guarantee benefit is included with this policy.
Shopping for life insurance?
It can be very stressful buying life insurance for yourself and your family, we all know this, but with InsureChance you can put that stress in a little box and store it away. When looking to get covered by the best company out there it is crucial to do research on the company such as we said before, their ratings are super important to make sure you don’t put your money into something that isn’t as stable as it should be. Just think about when you put money into a stock, a smart person doesn’t throw their hard earned money around, they study the stock and their performances to make sure that when they invest it doubles their money.
Leave it to our team to find you the most suitable coverage for you and your family members. We will walk you through a hassle-free application and ease your worries to be able to spend as much time as you can with your loved ones.
Work with Us!
In conclusion, Symetra has been around for 60 years and has a high rating but is just another one of many top rated companies. Working with an independent life insurance brokerage has its perks, we work with over 60 top “A” rated companies but our loyalty is not with any ONE company, our loyalty is to our clients and what works the best for them. We go a step further to make sure you get the best outcome by crafting a cover letter and running each application through the underwriters before we submit it. Feel free to check out plan with one of our comparisson tools or call us today at 888.492.1967!
