Symetra – New Allocation Index Strategies and IUL product updates
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May 19, 2021 Introducing Symetra Allocation Index (AI) Strategies Built on our guiding principles of Value, Transparency and Sustainability, we are pleased to introduce our newest innovation—Symetra AI Strategies (PDF)—which will be available with our new Accumulator 4.0 and Protector IUL 3.0 products starting June 1. Whether your client’s policy is designed for income distribution or policy duration, we believe that helping them achieve level performance and their illustrated rate is essential for reaching their long-term goals. We designed our new AI Strategies to help clients achieve or exceed their illustrated policy performance by allocating index segments to an index account based on the level of market volatility using the Cboe VIX® Index. When volatility is low, segments are automatically allocated to the S&P 500® Index account, and when volatility is high, segments are allocated to the JPMorgan ETF Efficiente® 5 Index account. An industry first Symetra is the first carrier in the industry to use an external index (VIX) to determine your clients’ strategy allocations—and its use for life insurance is exclusive to us! Please join us on Wednesday, June 2, at 1 p.m. ET for our national Swift Strategies webinar, where we’ll introduce you to Symetra AI Strategies and provide back-tested performance to show how they compare to the competition. Register now for the event. New versions of Accumulator and Protector IUL On June 1, 2021, we’re launching new versions of our Symetra Accumulator and Protector IUL products. The persistency bonus beginning in year 11 will be changing for both products—to 10% for Accumulator IUL, and 20% for Protector IUL. All bonuses remain guaranteed. Additional changes affecting both products include:
Please review our updated Accumulator IUL (PDF) and Protector IUL (PDF) fact sheets for complete product information. Important dates and transition rules June 1, 2021: Our illustration systems will be updated with the new versions of the products. June 11, 2021: All applications for the current version of the products must be signed and dated. We must receive these applications signed and in good order no later than June 18, 2021. Applications signed and dated after June 11, 2021 will receive the new version of the products. July 23, 2021: All cases for current versions of the products must be issued/paid. For 1035 exchange cases, the deadline will be extended if the only outstanding requirement is the receipt of 1035 funds. |
