Symetra is breaking new ground in the variable annuity space.
The "True" variable annuity is a very low fee VA that is, I believe, available for distribution through fee-based registered investment advisors.
No commissions and no huge expense structure for the lifetime income benefit.
Front end and back end loads do not exist. Also, surrender fees are waived when minimum investment is $25,000 or greater.
Symetra has partnered with Russell Investments to provide a lifetime income benefit that is referred to as The Pension Reserve Fund sub-accounts.
Symetra and a handful of other companies are aggressively moving into the low fee VA space and this should silence many of the critics who seem to harp on the high expense theme.
