SYMETRA NEWSROOM
Symetra Enhances Trek® Plus RILA with New Crediting Strategies
BELLEVUE, Wash.—(June 17, 2024)—Symetra Life Insurance Company unveiled multiple enhancements to Symetra Trek® Plus, its signature registered index-linked annuity (RILA), including two new indexed account options that add some downside protection and higher potential returns in flat markets.
“Symetra has been very diligent about building a set of annuity products that work in a variety of economic environments. Our latest Trek Plus enhancements reflect our ‘bull or bear – brave it all’ mindset, and continue Symetra’s commitment to offer financial professionals and their clients flexible options that are designed to add value and fit customer needs whatever the market conditions,” said Kevin Rabin, senior vice president, Retirement Products
Trek Plus is a single-premium, index-linked annuity offering growth opportunities, multiple downside protection options and other features that can help balance growth and protection needs. It offers a variety of indexed account options, plus an optional fixed account. Depending on the type of account and index, customers have the choice of a 1-, 2- or 6-year interest term.
The new Buffer Plus and Dual Trigger indexed account features provide growth opportunities and can, in some situations, provide positive crediting even when index returns are negative.
- Buffer Plus—This innovative feature combines some downside protection with the ability to earn more than the index when index returns are flat, or even negative.
- Dual Trigger—Similar to Trek Plus’s other trigger accounts that can provide positive crediting in 0% and positive markets, but it can also provide positive crediting even with negative index performance. This offers more growth opportunities. Negative index performance in excess of the buffer percent can be partially offset by the buffer percent during negative index returns.
Trek Plus now also offers indexed accounts with full downside protection — over a 1- or 6-year interest term — providing upside potential while mitigating market downside risk in negative markets.
“Symetra remains focused on empowering our distribution partners with a strong RILA portfolio that offers efficient solutions, competitive pricing, and can help provide their retirement customers with flexibility and growth opportunities,” said Andrew Farrell, senior vice president, Retirement Sales, Distribution and Marketing.
Symetra entered the RILA marketplace in March 2019 with Symetra Trek®. Symetra RILAs have been recognized by Barron’s on their annual ‘Top Annuities’ list for five consecutive years, 2019-2023.1
About Symetra
Symetra Financial Corporation is 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.
Contact(s):
Media Relations:
Diana McSweeney
(425) 256-6167
diana.mcsweeney@symetra.com
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Securities are offered through Symetra Securities, Inc. (SSI). Member FINRA.
Symetra Trek Plus is an individual single- premium deferred annuity contract with index- linked interest options issued by Symetra Life Insurance Company (SLIC). Contract form number is RSC-0580 5/24 in most states. In Idaho, contract form number is RSC-0580/ID 5/24. Products, features, terms and conditions may vary by state and may not be available in all U.S. states or any U.S. territory. SSI and SLIC are affiliates and are both located at 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004- 5135. Each company is responsible for its own financial obligations.
The point to point with Buffer and Dual Trigger Indexed Account endorsement form number is RSE-0171 5/24 in most states. The point to point with Buffer Plus, Participation Rate and Cap Indexed Account endorsement form number is RSE-0172 5/24 in most states. The point to point with Buffer, Participation Rate and Cap Indexed Account endorsement form number is RSE-0173 5/24 in most states. The point to point with Buffer and Trigger Indexed Account endorsement form number is RSE-0174 5/24 in most states.
Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.
Symetra Trek Plus has indexed accounts and a fixed account. Interest credited to the indexed accounts is affected by the value of outside indexes. Values based on the performance of any index are not guaranteed, and the contract value may decrease. The contract does not directly participate in any outside investment.
Indexed interest is calculated and credited (if applicable) at the end of an interest term. Indexed interest may be positive, negative, or zero. Amounts withdrawn from the indexed account before the end of an interest term will not receive indexed interest for that term. Overall, withdrawals may result in a loss of principal due to adjustments and charges that may be imposed even if index account(s) performance has been positive.
The performance of an index does not reflect the payment or reinvestment of dividends.
It is not possible to invest in an index.
Symetra reserves the right to add, remove or replace indexes or crediting methods subject to applicable regulatory approval.
The fixed account interest rate, indexed interest caps, participation rates and trigger rates are reset at the beginning of each interest term. Subsequent rates and caps may be higher or lower than the initial rates and caps, but they will never be less than the guaranteed minimums stated in the contract.
SYMETRA LIFE INSURANCE COMPANY (“Symetra”) has filed a registration statement (including a prospectus) with the SEC for Symetra Trek Plus. For more complete information about Symetra and Symetra Trek Plus, you should read the prospectus and other documents Symetra has filed with the SEC before purchasing. These documents are available for free by visiting EDGAR at www.sec.gov. Alternatively, Symetra will provide the prospectus by request. Contact Symetra toll-free at 1-800-796-3872, ext. 22136.
Symetra Trek Plus is a long-term investment designed for retirement purposes. There is a risk of substantial loss of principal. Please refer to the prospectus and product resource page for more details.
Neither Symetra Life Insurance Company nor its employees provide investment, tax, or legal advice or endorse any particular method of investing. Please consult your attorney or tax professional before making savings and investing decision.
Symetra Trek® Plus is a registered service mark of Symetra Life Insurance Company, Copyright © 2024Symetra Life Insurance Company, 777 108th Ave NE, Suite 1200, Bellevue, WA 98004. All rights reserved.
Symetra® is a registered service mark of Symetra Life Insurance Company.
1 Barron’s, High Rates Make Annuities Hot Investments. The 100 Best., July 26, 2023; The Best Annuities for Income and Growth, Aug. 4, 2022; The 100 Best Annuities for Today’s Market, July 23, 2021; Annuities Can Help Your Portfolio Stay Afloat. Here Are the 100 Best Ones Right Now, July 19, 2020; The Top 100 Annuities—and How to Choose the Best for You, July 19, 2019.
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