As our Individual Life Division continues to broaden and diversify our product portfolio, we are pleased to introduce Symetra Protector IUL. Our new protection-based indexed universal life (IUL) product provides cost-effective, yet flexible coverage—with the added potential for policy cash value growth.
Built on our guiding principles of Value, Transparency and Sustainability, Symetra Protector is a straightforward, client-friendly IUL offering:
- Market-leading premiums and strong death benefit guarantees. We’re among the top carriers for premiums and death benefit guarantees in our sweet spot ages of 40-65.
- A guaranteed persistency bonus of 30% of the index credit, beginning in policy year 11.
- A 2% cumulative lookback guarantee that may increase policy values every eight years.
- Index credits based on the index segment value at the beginning of the index term (net of any withdrawals or standard loans taken during the term).
- Optional riders for design flexibility. In addition to a full complement of included riders, Protector IUL’s optional Surrender Value Enhancement Rider and Accelerated Death Benefit for Chronic Illness Plus Rider can provide additional policy flexibility in case your clients’ needs change.
With these features and our strong target premiums, Symetra Protector IUL is one of the most competitive, transparent and easy-to-understand products available.
Symetra Protector IUL also offers nine diversified index strategies and a fixed account. Strategies include:
- Base Index Strategies for clients who are willing to forego higher index caps and/or participation rates in exchange for a guaranteed additional index credit.
- Core Index Strategies for clients seeking a balanced option with competitive rates and higher index caps than our Base Strategies.
- Select Index Strategies for clients with a positive market outlook and wanting higher upside potential than Core and Base strategies for an additional cost.
Our Base, Core and Select strategies include three index strategy options:
- S&P 500® Index Point-to-Point Capped Strategy: This 1-year strategy seeks to generate returns based on the S&P 500 Index.
- JPMorgan ETF Efficiente® 5 Index Point-to-Point No-Cap and High Participation Strategy: This 1-year, industry-leading, multi-asset class index strategy seeks to generate returns by using a diverse array of ETFs and a cash index. This design focuses on maximizing returns while limiting volatility. The JPMorgan ETF Efficiente 5 Index is licensed exclusively to Symetra.
- Blended 50% S&P 500® and JPMorgan ETF Efficiente®5 Index Point-to-Point No-Cap and High Participation Strategy: This 2-year, blended strategy provides an index segment credit that equals 50% of the uncapped S&P 500 return added to 50% of the JPMorgan ETF Efficiente 5 return at a current 140% participation rate. Over a longer time horizon, this strategy increases diversification and may help minimize short-term market volatility.