US-based Symetra Life Insurance has introduced two new fixed indexed annuity (FIA) products, to help meet the needs of today's retirement customers.
The two FIAs Symetra Edge Plus and Symetra Edge Premier offer capped and uncapped indexed account options, including the MSCI EAFE index and JPMorgan ETF Efficiente 5 Index
Symetra retirement division executive vice-president Dan Guilbert said: "Symetra Edge Plus and Symetra Edge Premier are designed to help meet the needs of today’s retirement customers, who are looking for ways to protect their money but still want some opportunity for growth potential.
"Both Edge Plus and Edge Premier’s indexed account options provide a selection of interest crediting opportunities based on indexes composed of a diverse array of asset classes, including domestic and foreign equities and more."
Symetra Edge Plus includes five and seven-year surrender periods, while Symetra Edge Premier offers a 10-year surrender period, providing more opportunity for growth potential.
Both the products are individual single premium fixed indexed deferred annuities with a market value adjustment feature, according to the company.
Symetra Edge Premier provides diverse array of indexed crediting opportunities, multiple account options and no downside market risk.
In addition, the products offer multiple ways to access fund during the surrender charge period and enhanced death benefit rider, which is an optional feature designed to provide beneficiaries with a potentially larger death benefit from the annuity contract than they’d otherwise receive.
Image: Symetra has introduces two new fixed indexed annuity products. Photo: courtesy of Vichaya Kiatying-Angsulee/ FreeDigitalPhotos.net.