From fast approvals to competitive permanent policies, Symetra has some standout features that may interest you.
In this review, we compare Symetra’s life insurance products and underwriting expertise against competitors.
Company Overview
Founded in 1957 and based in Bellevue, Washington, Symetra Life Insurance Company is backed by Sumitomo Life — one of Japan’s largest insurers. Together, they manage over $318 billion in assets, providing Symetra with the financial backing of a global powerhouse.
Financial Strength
- AM Best: A (3rd highest of 16)
- Moody’s: A1 (5th highest of 21)
- Standard and Poor’s: A (6th highest of 21)
These ratings indicate that Symetra is a financially solid and stable life insurance company with the ability to pay future claims.
Symetra Term Life Insurance
The term life products available are Symetra Term and Symetra SwiftTerm.
Symetra Term Highlights:
- Minimum Policy Size = $250,000
- Term Lengths of 10, 15, 20, and 30 years
- Conversion is offered for 10 years or until the insured is age 70, whichever comes first.
- Riders available:
- Accelerated Death Benefit for Terminal Illness
- Children’s Term Insurance Rider – $1,000 – $10,000, ages 15 days to 17 years, ends at 25.
- Waiver of Premium
- Accidental Death Benefit Rider
- Additional Term Insurance Rider – adds level term insurance for a family member or business partner starting at $100,000
Symetra SwiftTerm Highlights:
Swift term life insurance now offers the possibility of instant approvals!
- Minimum Policy Size – $100,000
- Term Lengths – 10, 15, 20, and 30 years
- 10-year – Ages 20-60
- 15-year – Ages 20-60
- 20-year – Ages 20-60
- 30-year – Ages 20-50
- Conversion is offered for 10 years or until the insured reaches age 70, whichever is earlier.
- Riders available:
- Accidental Death Benefit
- Children’s Term Life Insurance
- Waiver of Premium
The SwiftTerm term life product is used for accelerated underwriting and instant approvals. Other companies that offer instant approvals include Banner Life and Corebridge Financial.
Universal Life Insurance
Several permanent life insurance policies are available, including cash value policies and index universal life.
CAUL
The Current Assumption Universal Life Insurance policy, also known as the CAUL policy, offers the following.
- Minimum Policy Size $100,000
- Chronic Illness Rider
- Terminal Illness Rider
- Chronic Illness Plus Rider
- Accidental Death Benefit Rider
- Additional Term Rider
- Charitable Giving Benefit
This policy offers the potential to build cash value and offers a no-lapse guarantee. Other companies with no lapse guaranteed universal life include:
Protector Index Universal Life
Index universal life insurance has become increasingly popular, and Symetra offers the following:
- Minimum Policy Size $100,000
- Index Strategies include – S&P 500, JPMorgan ETF Efficient and Blended S&P 500.
- Lapse Benefit Rider
- Lapse Protection Benefit Rider
- Persistency Bonus
- Lookback Guarantee
- Accelerated Death Benefit for Chronic Illness
- Guaranteed Policy Value on Surrender
- Overloan Lapse Protection Rider
- Accelerated Death Benefit for Chronic Illness Plus Rider
- Charitable Giving Benefit Rider
For any permanent life insurance policy of interest to you, we provide you with the full company illustration and consumer guide for your review.
Lincoln Financial and North American offer index products that are comparable.
Underwriting Review
Symetra makes the underwriting process relatively smooth, especially if you qualify for their accelerated SwiftTerm program or meet preferred health guidelines.
Accelerated Underwriting with Symetra
Symetra offers one of the more streamlined accelerated underwriting programs in the industry, especially for term and permanent policies under $3 million.
| Path | Ages | Face Amount | Medical Exam | Decision Speed |
|---|---|---|---|---|
| Express | 18-60 | $1,000,000 | No | Fastest |
| Accelerated | 18-50 ($3m) 51-60 ($2m) | $1-3,000,000 | Usually not | Fast |
| Full Underwriting | 18-79 | $3 m plus | Yes | Slower |
If everything looks good, you may qualify for instant approval. Banner Life and Corebridge Financial Are the other companies offering instant approval.
Who Doesn’t Qualify?
Any history of the following will require traditional underwriting:
- History of Diabetes, cancer, heart disease, or COPD
- Current marijuana use
- High-risk hobbies or poor driving record
- Criminal history in the last 10 years.
Specialty Underwriting Programs
- GoodLife Rewards Credit Program
- Boosts your rating class by up to 3 table ratings
- Available through age 70
- Factors like exercise, healthy BMI, good labs, and no nicotine help if you qualify.
- HIV Life Insurance
- Up to $1 million in coverage
- Symetra works with multiple reinsurers to offer this option.
- Private Pilots
- No flat extras for pilots with 100+ solo hours and 750+ total hours
- Must have IFR certification, clean MVR, fly only in U.S. and Canada, and be under age 70
- High Net Worth Foreign Nationals
- Coverage up to $35 million
- Term and permanent insurance are allowed.
- Few competitors offer this level of flexibility
Symetra Customer Service
- Phone: 800-796-3872
- Website: here
- Address: 777 108th Ave NE, Suite 1200, Bellevue, WA. 98004
FAQ
Not always. Many applicants are approved through SwiftTerm without an exam.
Yes. Indexed Universal Life (IUL) policies come with strong guarantees and competitive riders.
You may still be eligible through traditional full underwriting, especially if your health history is complex.
Final Words
Symetra Life Insurance Company offers a unique mix of competitive policies, lenient underwriting, and niche flexibility that makes it a strong contender, especially if you don’t fit the cookie-cutter applicant profile.
Whether you’re shopping for fast, no-exam coverage or permanent life insurance with guarantees, Symetra is worth a look. Be sure to compare it to top-tier competitors to ensure you’re getting the best value.
Want help comparing quotes? Submit a request and we’ll show you how Symetra stacks up against other leading companies.
