Symetra Annuities Provide Stability for Shell-Shocked Investors
BELLEVUE, Wash.--(BUSINESS WIRE)--March 26, 2009--As the economic recession continues to wreak havoc on retirement savings, increasing numbers of Americans are looking for financial products that are sure to hold their value regardless of what happens to the stock market. To help concerned customers, Symetra offers reliability in the form of income annuities that deliver steady, guaranteed income payments not vulnerable to market volatility. 1
Symetra income annuities enable customers to convert a portion of their savings into a regular monthly income stream for as long as they want in retirement. Unlike many other financial products, the payments from these income annuities are guaranteed not to decrease. 2
More retirees are turning to income annuities not just to protect against outliving their savings, but to help shield retirement assets. The importance of securing reliable retirement income has taken on greater significance as unprecedented economic turmoil has impacted those nearing or already in retirement. In fact, a recent report found that retirement accounts lost $3.4 trillion between September 30, 2007 and March 6, 2009. 3 Additionally, 65 percent of older workers say they will delay retirement and work longer due to the recent changes in the economy, according to a report by AARP. 4
“With income annuities, no matter how markets fluctuate, customers are assured a steady income that can help carry them through retirement,” said Kim McSheridan, vice president of Income Annuities at Symetra Life Insurance Company. “Given the current economic climate, they truly are a solution whose time has come.”
Income annuities are a simple, predictable source of retirement income. Retirees know exactly what their payments will be and when they will receive them. Customers can choose to receive income immediately or several years into the future with payments that last for life or for a specified length of time. The Symetra annuities can be tailored to give retirees the options of scheduling regular pay increases or accessing a portion of their future income as often as every 36 months with no surrender charges, should they need that flexibility. The annuities are backed by the strength of Symetra Life Insurance Company, a company with a 52-year history of stability and consistently providing for customers.
For more information on Symetra’s income annuities and other stable financial solutions, visit www.symetra.com/stabilitysuite.
About Symetra Financial
Symetra Financial Corp. and its subsidiaries provide employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions and independent agents and advisors. Headquartered in Bellevue, Wash., Symetra and its subsidiaries have approximately $19 billion in assets. 5 Symetra is owned by an investor group led by White Mountains Insurance Group, Ltd. and Berkshire Hathaway Inc.
For more information, visit www.symetra.com.
Annuities are issued by Symetra Life Insurance Company, 777 108 th Ave. NE, Suite 1200, Bellevue, WA 98004-5135. Not available in all U.S. states or any U.S. territories. Contract form numbers for Advantage Income Annuity, a single premium immediate annuity, in most states are LIA-26 7/00 for qualified, LIA-27 7/00 for nonqualified; and LIA-26/OR 7/00 for qualified, LIA-27/OR 7/00 for nonqualified in Oregon.
Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Co.
Symetra® is a registered service mark of Symetra Life Insurance Co.
AOIA51-0209
1, 2 Guarantee subject to the claims paying ability of Symetra Life Insurance Company
3 “How Is the Financial Crisis Affecting Retirement Savings?,” Urban Institute, March 9, 2009
4 “Retirement Security or Insecurity? The Experience of Workers Aged 45 and Older,” AARP, Oct. 2008
5 Total GAAP assets and combined liabilities and stockholders’ equity at Dec. 31, 2008.
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