Symetra Life Insurance Company was established in 1957 and headquartered in Bellevue, Washington.
The parent insurance company is Sumitomo Life, one of the largest insurance companies from Japan.
Together the two companies have approximately $350 billion in assets.
We review carriers to show you what is available and how it compares to other life insurance companies.
Ratings are subject to change. AM Best – 02/21, Moody’s 10/20, S&P 06/20
Symetra’s business is guided by the following principles:
As part of Symetra’s culture, they are committed to their people, customers, communities, advocacy, growing a diverse leadership group.
The company is active in their community with youth programs, grant and scholarship programs, and support their employee volunteer activities.
Symetra offers a number of different types of life insurance to help you.
Symetra Term and Symetra SwiftTerm are term life products that are available.
Symetra Term offers:
Symetra SwiftTerm offers:
The SwiftTerm term life product is used with accelerated underwriting as described later in this article.
A number of permanent life insurance policies are available including cash value policies and index universal life.
The CAUL policy is the Current Assumption Universal Life Insurance policy that offers the following.
This policy offers the potential to build cash value and offers a no lapse guarantee.
Index universal life insurance has become increasingly popular and Symetra offers the following.
For any permanent life insurance policy of interest to you, we provide you with the full company illustration and consumer guide for your review.
Yes, Symetra does offer accelerated underwriting for their term life insurance and universal life policies.
SwiftTerm is Symetra’s accelerated term life insurance product.
The program criteria include:
We complete an e-application. Underwriting will then check the prescription database, motor vehicle and medical information bureau checks.
If your application qualifies you will be approved on the spot or within 3 days.
If not, the application gets routed to traditional underwriting.
Symetra has a couple of underwriting niches that are competitive.
The main one is the GoodLife Rewards Credit Program.
The rewards program may improve offers by up to 3 table ratings.
The program is available for insureds age 70 or younger looking for permanent insurance.
Any of the following may help you qualify, the more the better.
A newer area that Symetra has been competitive with is the HIV+ marketplace.
There are only a few companies that underwrite HIV+, and Symetra has a number of reinsurers available to consider coverage up to $1,000,000.
Some non-medical underwriting niches include:
Private pilots with at least 100 solo hours and 750 total hours may qualify for a policy without a flat extra expense.
Symetra’s program is very competitive, offering up to $35 million in coverage to foreign nationals.
While many companies will only consider universal life insurance applications, Symetra will allow either term or permanent life insurance.
This is a great option for businesses operating in the U.S. where an owner is a foreign national but is required to put up personal collateral for loans, key person coverage, buy-sell, etc.
Telephone number for Symetra is 800-796-3872
You will find the login for Symetra – here
Address = 777 108th Ave NE, Suite 1200, Bellevue, WA 98004
Symetra is a good company and there may be times when Symetra is the best for your life insurance needs.
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