Symetra Freedom Income Annuity offered by Symetra

Introduction
Type of Product Fixed Annuity
Product NameSymetra Freedom Income Annuity
Offered bySymetra
Company Info

Symetra Financial provides ... read more

Contact Information
Company OfferingSymetra
Company TypeInsurance Company
Phone Number800-796-3872
Websitewww.symetra.com
Talk to a Financial Advisor
Contact Information Connect with a Financial Advisor
Reviews and Ratings
Average Review

5/5 from 2 Reviews


Product Ratings and Reviews

Rating:
5
Average: 5 (1 vote)

Not sure how they do it, but our recent experience indicates that Symetra is consistently at the top of the list in terms of longevity insurance pricing.  In other words, their rates seem to be consistently higher than their competitors.

It does not appear to have anything to do with credit rating as the company maintains A ratings with both AM Best and S&P.

Deferred annuities account for 43 percent of the company's retirement division pretax adjusted operating income and they are a leader in deferred annuity market share (ranked 3rd), so somethign is clearly working for them.

The investment and related spread side of the equation is based in part on what they refer to as a commercial mortgage loan origination strategy that is intended to improve yield and stabilize spreads.

Maybe some of the magic is on the distribution side with heavy bank distribution, or maybe it is simply an overall well managed insurance company in the tradition of Berkshire Hathawat and White Mountains. 

 

2,332 reads
Rating:
5
Average: 5 (1 vote)

The Freedom Income Annuity is Symetra's longevity insurance offering.

Freedome Income is an income annuity with a deeply deferred income commencement date (as deferred as age 95).

Symetra is one of a handful of companies offering pure longevity insurance.

Symetra's longevity annuity is interesting as it can be purchased on an inflation-adjusted basis.  

Inflation-adjusted longevity annuities make sense given what has been taking place with monetary policy in most countries around the world.

Payments that begin decades in the future are especially subject to inflation risk.  Even mild rates of inflation can devastate the real value of that future annuity income given multi-decade horizons.

There are a couple ways to deal with inflation risk and longevity annuities.  First, you can purchase the annuity with inflation protection. Second, you could purchase a higher amount now in light of a particular inflation rate.

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