The trend in fee-based fixed indexed annuities continues with a recent announcement from Symetra Life Insurance Company. The leading fixed annuity provider has introduced two new FIAs built for fee-based planning, according to a recent press release. Symetra Advisory Edge and Symetra Advisory Income Edge both provide customers planning for retirement with asset protection and opportunities for interest crediting through multiple index options, including the JPMorgan ETF Efficiente® 5 Index.
“The addition of Advisory Edge and Advisory Income Edge to Symetra’s broad suite of fixed indexed annuity products offers advisors greater choice and aligns with out commitment to providing transparent, flexible options that add value and fit the needs of today’s retirement marketplace,” said vice president of Retirement Products, Kevin Rabin. “Symetra’s commitment to adapting our products to meet our partners’ evolving needs is one of our core strengths. Expanding our lineup of commissionable FIAs to include these new fee-based products allows advisors and their clients to decide which planning model best suits their retirement objectives,” he added.
The new fixed indexed annuities offer:
- Index Choices: Credited interest based on the performance of the S&P 500® Index and/or the ETF Efficiente Index, up to a cap.
- Protection of a Fixed Annuity: Purchase payments and previously credited interest are protected from market losses.
- Lifetime Income with the Potential to Grow: Advisory Income Edge’s guaranteed lifetime withdrawal benefit (GLWB) provides income that will last a lifetime with upside potential before and after payments begin.
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation based in Bellevue, Washington. The company provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent agents and advisors. For more information, visit www.symetra.com.
Written by Rachel Summit