Symetra True Variable Annuity Offers Low Fees, Tax Deferral
Business Wire, Inc. |
“Symetra True VA gives clients flexibility, a broad selection of investment options and a guaranteed lifetime income feature. And while True offers low fees, we didn’t sacrifice quality in the product’s design,” said
True’s robust investment lineup includes more than 100 underlying fund choices, including the new
Sophisticated asset allocation and investment tools are available to help clients maintain a disciplined focus on their long-term investment strategy. An optional tool gives advisers a way to automate risk management on a per-sub-account basis in both up and down markets, based on a client’s risk tolerance.
“With True, we’re offering advisers access to a processing and trading platform not typical in the annuity space. This state-of-the-art system allows for portfolio modeling and seamless asset allocation and block trading,” said Guilbert.
The target customers for True VA are clients of fee-only registered investment advisers and fee-based advisers affiliated with broker-dealers. The product is supported by a dedicated Symetra wholesaling team.
Here are some key features of Symetra True VA:
-
Low Fees 1 and Flexibility— There are no front-end or back-end sales charges with True, and contract fees are low. For a$25,000 minimum investment, True offers flexibility without surrender charges. This means clients are not locked into a contract if their needs change over time. - Tax Deferral— With True, investment activity occurs within a variable annuity that defers taxation on interest income, dividends and capital gains. Taxes are not paid on earnings when the contract value is transferred from one sub-account to another, or when rebalancing among sub-accounts to manage risk.2
- Premier Investment Lineup— True gives clients the flexibility to select from a broad array of actively managed funds and passive index funds advised by some of the world’s leading money managers.
- Guaranteed Lifetime Income— True offers guaranteed annual lifetime income at a defined retirement date through investments in specific
Symetra Pension Reserve Fund sub-accounts,3 which are sub-advised by Russell Investments. Clients can secure a guaranteed income stream while maintaining liquidity and control of their assets. - Automated Sell Strategy Tool — An optional automated system tool gives advisers the ability to establish sell orders based on a client’s personal risk tolerance level. The tool is designed to lock in gains or limit losses based on a predetermined percentage amount (“trigger”) for any sub-account in which the client is invested.4
- Wealth Transfer Benefit— The optional Wealth Transfer Benefit (WTB) rider can help pay for beneficiaries’ tax burden by providing an additional amount of 50 percent of the contract’s accumulated earnings upon the client’s death to help cover taxes.5 The rider can be elected when the contract is purchased, and the rider charge only applies when there is a gain in contract value.
“We believe the market is ready for a VA without living benefit riders that offers clients low fees and a marquee lineup of investment options,” said Guilbert. “Symetra True VA is designed as a modern solution for clients seeking flexibility and value in a variable annuity product.”
For more information about Symetra True Variable Annuity, visit www.trueva.com. For advisers interested in a selling agreement, call 1-855-TRUEVAS (1-855-878-3827).
About Symetra
Before investing, carefully consider the investment objectives, risks, charges and expenses. This and other information is contained in the contract prospectus and the underlying fund prospectuses. You may call or write your Registered Representative or Symetra for free copies of the prospectuses or visit www.trueva.com for online copies. Please read them carefully before investing.
Securities are distributed by
Variable annuities, which are suitable for long-term investing, are subject to market risks, including the loss of principal invested. Like many variable annuities, this contract has terms and limitations for keeping it in force. Please contact your Registered Representative for complete details.
Guarantees and benefits are subject to the claims-paying ability of
The Symetra Pension Reserve Funds are not insured by the
1 Source: Morningstar survey of 1,854 variable annuities on
2 When you eventually withdraw contract value from the contract, taxes generally will be due on investment gains at your ordinary income tax rates. Additionally, a 10% federal tax penalty may apply to withdrawals made before the age of 59 ½.
3 This prepaid annuity option guarantee of annual lifetime annuity payments is provided by
4 Minimum trigger is a 5% increase or decrease. Automated Sell Strategy orders will expire after 18 months. You cannot monitor/transfer from a
5 Certain conditions, restrictions and limitations are associated with the Wealth Transfer Benefit (WTB) rider. If contract owners elect this rider, they may not realize the benefits if they experience no gain or consistently negative rates of return. The annual rate used to calculate your WTB rider charge will increase as you age and could cause the WTB rider charge applicable to you also to increase. This increase could be significant.
Safe Harbor Statement
Some of the statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events. In particular, these include statements relating to future actions, plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts.
Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining Symetra’s actual future results. Consequently, no forward-looking statement can be guaranteed, and forward-looking statements may be adversely affected by factors, including general market conditions and competitive product development. Risks, uncertainties and other factors that might cause such differences include the risks, uncertainties and other factors identified in Symetra's filings with the
Symetra does not undertake any obligation to publicly correct or update any forward-looking statement if Symetra later becomes aware that such statement is not likely to be achieved.
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Copyright: | Copyright Business Wire 2012 |
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