Symetra today announced the introduction of a new version of its Accumulator indexed universal life insurance (IUL) product — Symetra Accumulator Ascent IUL. The flexible-premium adjustable life insurance policy with index-linked interest options provides death benefit protection plus policy cash value growth potential that can help with future income needs.
“Enhanced products like Accumulator Ascent IUL and new offerings like our MultiLife Business Program are bringing a wider array of compelling solutions to Symetra customers and partners,” said Phil Bouvier, senior vice president, Individual Life Sales and Marketing. (Photo: Business Wire)
“Symetra is committed to the IUL marketplace and always looking for ways to offer products and services that provide significant value. Our enhanced Accumulator Ascent IUL offers clients a straightforward indexed universal life product with a simple story: the opportunity for even stronger cash value accumulation potential, more competitive policy distributions and lower policy charges,” said Phil Bouvier, senior vice president, Individual Life Sales and Marketing.
Accumulator Ascent offers eight interest crediting options: seven indexed strategies plus a fixed interest option. Any growth within the index strategies is linked to the performance of the selected market index. Policies can benefit from the potential growth of these external indexes, but are also protected from market losses.
Exclusive to Symetra are new Putnam Dynamic Low Volatility Excess Return Index™ Strategies (Putnam Index Strategies), which seek to generate index credits based on the Putnam Dynamic Low Volatility Excess Return Index. This dynamic index pursues attractive returns with a focus on managing volatility and avoiding unwanted surprises. In addition to the new Putnam Index Strategies, Accumulator Ascent continues to offer Symetra’s competitive Core and Allocation Index (AI) Strategies.
Symetra MultiLife Business Program
Earlier this year, Symetra rolled out a new MultiLife Business Program, an efficient insurance solution for small to mid-sized employers looking to retain top talent and protect their business. Program highlights include:
Eligible employees under the program are covered by a Symetra Accumulator Ascent IUL policy, which provides death benefit protection and growth potential based on the performance of their selected index strategies.
Policies are issued to program-eligible employees on a guaranteed-issue (GI) underwriting basis, removing the need for medical evidence or traditional underwriting reviews.
MultiLife cases are submitted through a simple three-step case review and invitation to apply process.
“Symetra has been very deliberate about expanding our life portfolio to help us and our BGA partners reach more customers. Enhanced products like Accumulator Ascent IUL and new offerings like our MultiLife Business Program and award-winning SwiftTerm® digital term life insurance are bringing a wider array of compelling solutions to Symetra customers and partners,” said Phil Bouvier.
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation, a diversified financial services company based in Bellevue, Washington. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent financial professionals and insurance producers. For more information, visit www.symetra.com.