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September 04, 2015 6:48 AM ET


Company Overview of Symetra Life Insurance Company

Company Overview

Symetra Life Insurance Company provides life insurance services in the United States. It offers annuities, life insurance, group employee benefits, and retirement plans through a network of agents and advisors. The company was formerly known as Safeco Life Insurance Company and changed its name to Symetra Life Insurance Company in September 2004. The company was founded in 1957 and is based in Bellevue, Washington with an additional office in Waltham, Massachusetts. Symetra Life Insurance Company operates as a subsidiary of Symetra Financial Corporation.

777 108th Avenue NE

Suite 1200

Bellevue, WA 98004-5135

United States

Founded in 1957





Key Executives for Symetra Life Insurance Company

Chief Executive Officer, President, Chief Executive Officer of Symetra Financial Corporation and President of Symetra Financial Corporation
Age: 57
Chief Financial Officer and Executive Vice President
Age: 50
Chief Information Officer and Senior Vice President
Age: 56
Senior Vice President, General Counsel and Secretary
Age: 65
Age: 53
Compensation as of Fiscal Year 2015.

Symetra Life Insurance Company Key Developments

Symetra Life Insurance Introduces Enhanced Death Benefit Rider

Symetra Life Insurance Company has introduced an enhanced death benefit rider to its suite of fixed indexed annuity, or FIA, products. The optional feature is available on select Symetra fixed indexed annuities, including Symetra Edge Pro Fixed Indexed Annuity, and is designed to provide beneficiaries with a potentially larger death benefit than they would otherwise receive from an annuity contract. The enhanced death benefit rider may appeal to customers seeking the stability and safety of a fixed indexed annuity, but who want the potential to leave a little 'extra' to their beneficiaries. This may mean placing a higher priority on enhancing the wealth transfer ability of the FIA than maximizing the annuity's value for the contract holder's use. The enhanced death benefit rider is effective and the rider charge is deducted at the end of the first interest term with no extended waiting period. A full lump-sum death benefit is available to beneficiaries, with no annuitization requirement. Annual rollup percentage of 7% simple interest for a rollup period of 10 years is available. It is available for issue for 0-75 ages, and annual charge is 0.90% of the enhanced death benefit amount. Sold through banks and broker-dealers, Symetra Edge Pro is designed to help meet the retirement planning needs of customers looking for diversification and principal protection. The product gives clients the choice of two index options, each offering two additional interest crediting choices. It offers a fixed account option and guaranteed minimum value feature, and four no-cost options for contract holders to access their money during the five- or seven-year surrender charge period.

Symetra Names Harry Monti as Vice President of Group Life and Disability Operations

Symetra Life Insurance Company announced that Harry Monti will lead operations for its group life and disability income insurance business. As vice president of Group Life and Disability Operations, Monti will be responsible for leading the unit's administration and claims functions. He will be based in Symetra's Enfield, Conn., office. Monti joins Symetra with 25 years of broad financial, operations and strategic experience both in-house and as a consultant. Most recently, he was director, Insurance Advisory Services with PricewaterhouseCoopers (PwC) in Hartford.

Symetra Introduces Survivorship Universal Life Product

Symetra Life Insurance Company announced the launch of a survivorship universal life insurance product, called Symetra SUL--G 1.0. Designed for clients looking for a robust legacy-planning solution, this guaranteed universal life insurance policy for two lives offers a competitive pricing structure with flexible premium payment options. The new offering is available immediately. Guaranteed survivorship universal life insurance can be an effective tool for estate planning and wealth transfer, as well as for business-protection needs. When the policy is part of an estate-planning strategy utilizing an Irrevocable Life Insurance Trust (ILIT), the death benefit will generally pass to beneficiaries free of federal and estate taxes.

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