Symetra Life Insurance Company, a provider in the individual life insurance space, has expanded its universal life portfolio with the introduction of Symetra Accumulator IUL. A flexible premium adjustable life insurance policy with index-linked interest options, Accumulator IUL is designed for permanent life insurance coverage, maximized policy value growth, and supplemental income potential.
Symetra Accumulator IUL product highlights include:
· Strong policy cash value accumulation potential and policy distributions.
· Three index options.
· S&P 500® Index.
· JPMorgan ETF Efficiente® 5 Index—a volatility controlled option licensed exclusively to Symetra.
· Blended S&P 500® and JPMorgan ETF Efficiente® 5 Index — a two-year 50% blended option that combines S&P 500® Index performance with the volatility control of JPMorgan ETF Efficiente® 5 Index over a longer period of time.
· Index credit based on the index segment value at the beginning of the index segment term, less any withdrawals or standard loans taken during the term.
· Guaranteed persistency bonus of 15% of the index credit beginning in policy year 11.
· A 2% cumulative lookback guarantee that may increase policy values every eight years.
· Ability to switch between standard or participating loans once a year without repaying the loan.
· Current guaranteed minimum cap on the S&P 500® Index of 3.5%.
“Recognizing that the number of moving parts and policyowner decision points can make the purchase of an IUL product daunting, we’ve introduced Accumulator IUL with an emphasis on a simple story: index options that are focused and specifically designed to help meet client needs while our underlying policy charges are transparent and easy to understand,” said Dan Guilbert, executive vice president, Symetra Individual Life and Retirement Divisions. “Symetra Accumulator IUL features a straightforward but compelling dual strategy. It’s an accumulation-focused IUL product offering inherent and optional features that can help clients achieve both their protection and retirement goals.”