Select Pro NY
Symetra Life Insurance Company
15%
Free W/D
A fixed deferred annuity that grows your retirement savings at a guaranteed rate while protecting you from market losses. Designed for retirees and near-retirees who want stability and the option to create lifetime income.
Free Withdrawal
15%/yr
Available In
1 states
Min Premium
$10,000
Surrender
7 years
Key Features
Guaranteed Interest Rate
3, 5, or 7 year terms availableYou earn a fixed interest rate that is not affected by stock market performance for your selected contract term (3, 5, or 7 years), with a minimum rate guaranteed after that period.
Tax-Deferred Growth
Taxes deferred until withdrawalInterest compounds daily and you pay no income taxes on it until you withdraw money, potentially allowing you to be in a lower tax bracket at retirement.
Free Annual Withdrawals
Up to 15% per contract yearYou can withdraw up to 15% of your contract value each year without any charges, calculated at the time of your first withdrawal that year.
Nursing Home and Hospitalization Waiver
30-day trigger; available in most statesIf you spend 30 consecutive days in a nursing home or hospital, all withdrawal charges are waived. You have up to 90 days after leaving to request a distribution.
Terminal Illness Waiver
After year 1; varies by stateAfter the first year, withdrawal charges are waived if you are diagnosed with a terminal illness.
Lifetime Income Options
3 payout structure optionsConvert your contract value to guaranteed monthly, quarterly, or annual payments that can last your entire lifetime or the lifetimes of you and a joint annuitant.
Guaranteed Return of Purchase Payment (GROPP)
Optional feature; extends age limits to 90Optional guarantee ensuring you will never receive less than what you contributed to your annuity, minus any prior withdrawals.
Death Benefit
Greater of contract or guaranteed minimum valueYour beneficiaries receive the greater of your contract value or guaranteed minimum value. Spouses can continue the contract instead, with all future withdrawal charges waived.
Highlights
Guaranteed interest rate for 3, 5, or 7 years with no market risk exposure
Tax-deferred growth on your money until you withdraw it
Flexible access through annual free withdrawals (up to 15%) and special waivers for nursing home, hospitalization, or terminal illness
Can convert to lifetime income payments that you cannot outlive
Optional guarantee ensures you never receive less than your contributions (GROPP)
Surrender Schedule
Yr 1
8%
Yr 2
7%
Yr 3
6%
Yr 4
5%
Yr 5
4%
Yr 6
3%
Yr 7
2%
After
0%
Nursing home waiver, RMD waiver, Terminal illness waiver
Best For
Retirees and near-retirees who want guaranteed growth without market risk, prefer tax deferral, and may want to convert savings into lifetime income payments.
Consider Alternatives If
Investors who need immediate access to all their funds or those who cannot commit to long-term contracts and would face surrender charges on early withdrawals.
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