Pros Explained

• No-medical-exam policies with high coverage limits: Symetra offers two no-exam life insurance policies, including a term life policy with up to $5 million in coverage.
• Same-day approval decisions: With Symetra’s SwiftTerm and SwiftProtector policies, eligible applicants can apply and get approved on the same day.
• Affordable term policies: Symetra quoted lower premiums for term life insurance than many other insurers in our study.
• NAIC record shows few complaints: Symetra has fewer complaints than expected for its size, according to the National Association of Insurance Commissioners (NAIC).

Cons Explained

• Limited policy types: Symetra only sells term life insurance, indexed universal life insurance, and variable universal life.
• Doesn’t offer online quotes: You can’t get a life insurance quote from Symetra online. You’ll need to contact an agent and complete the application process first. 
• Small selection of riders: Symetra offers fewer riders than other life insurance companies we reviewed.

Financial Stability

Symetra has an A (Excellent) financial stability rating from the credit rating agency AM Best, which evaluates insurance companies based on their ability to meet contractual obligations. Symetra’s fi♏nancial strength rating is on par with that of many other companies in our study. Howไever, some of the best life insurance companies have an AM Best rating of A+ (Superior) or higher.

Customer Complaints and Satisfaction

The NAIC maintains a database of insurance company complaints and assigns each insurer an index that correlates to the number of complaints it receives relative to its size. 

Symetra’s three-year NAIC complaint index is 0.337, which is lower than the benchmark index of 1.0. That means Symetr൲a receives far fewer complaints than expected for its size.

Types of Life Insurance Offered by Symetra

Term Life Insurance

澳洲幸运5官方开奖结果体彩网:Term life insurance p♔rovides coverage for a specific number of years, called the te♔rm. If you die during the term, your beneficiaries receive the death benefit. If you outlive the term, your coverage ends, unless you convert your policy to permanent coverage. Unlike permanent life insurance, term life has no cash value component.

These are the term life i♚nsurance policies available from Symetra.

• SwiftTerm: This policy is offered to people between the ages of 20 and 60. It doesn’t require a medical exam, and you can get approved in as little as 18 minutes. You can choose a term of 10, 15, 20, or 30 years and select a coverage limit between $100,000 and $5 million. You can request to convert it to a permanent policy before the end of the 10th policy anniversary or the policy anniversary following your 70th birthday, whichever is earlier.
• Symetra Term: This term policy is available to people between the ages of 20 and 80. The term length options are 10, 15, 20, or 30 years. Symetra Term is a fully underwritten life insurance policy, which means a medical exam is required.

Indexed Universal Life Insurance

澳洲幸运5官方开奖结果体彩网:Indexed universal life (IUL) insurance is a type of per♒manent life insurance that provides coverage for your lifetime. You can adjust the premium payments and death benefit while the policy is active. When you die, yo🧜ur beneficiaries receive the death benefit. 

These policies also have cash value, which earns interest based on a stock market index's performance. The policy usually offers a minimum return during downturns and a cap on maximum possible earnings in years when the market index goes up. The cash value can be borrowed from or withdrawn while you’re still living. 

The IUL policies from Symetra include:

• Accumulator Ascent IUL: This policy is available to applicants between the ages of 20 and 85 and has a minimum coverage limit of $100,000. 
• Protector IUL: The Protector IUL policy is for people between the ages of 20 and 85. It has a minimum coverage limit of $100,000 and a guaranteed death benefit.
• SwiftProtector: This policy provides instant approvals for eligible applicants, and the application process is entirely online. It’s available to people between the ages of 20 and 60, with coverage limits ranging from $100,000 to $3 million. 

All three Symetra IUL policies include a lapse protection rider, terminal illness rider,﷽ and chronic illness rider for free. Several optional rider༒s can be added for a fee.

Variable Universal Life Insurance

澳洲幸运5官方开奖结果体彩网:Variable universal life (VUL) insurance offers lifetime protection and has cash value that grows through subaccounts, similar to mutual funds. There’s more upside but also the risk of more significant losses than with an indexed universal life policy. You can borrow or withdraw the cash value, or use the money to change the amount or frequency of your premiums. The death benefit is also adjustable, but it’s not guaranteed. Poor investment performance could force you to pay higher premiums𓄧 to a🍒void losing coverage.

Symetra offers one VUL policy.

• Accumulator VUL: This policy is available to people between 20 and 85 years old, with a minimum coverage limit of $100,000. You can choose between several professionally managed subaccounts or get a fixed account. The policy includes a free lapse protection rider, terminal illness rider, and chronic illness rider.

Does Symetra Requireജ a Life Insurance Medical Exam?

Symetra offers two no-medical-exam life insurance policies: SwiftTerm and SwiftProtector. Eligible healthy applicants can get coverage online on the same day they apply. Some applicants may be subject to additional 澳洲幸运5官方开奖结果体彩网:accelerated health underwriting, which can take one to three days for approval, or full underwriting, which takes about 3ℱ0 days.

Available Riders From Symetra 

Symetra offers a handful of 澳洲幸运5官方开奖结果体彩网:life insurance riders, but not as many as other companies we reviewed. The riders available from ⛎Symetra include:

• Terminal illness rider: This rider allows you to access up to 75% of the policy’s death benefit if you get diagnosed with a terminal illness and have less than one year to live.
• Chronic illness rider: With this rider, you can tap into the money from your death benefit if you get diagnosed with a chronic illness that limits your ability to perform certain activities of daily living.
• Accidental death benefit rider: This rider provides an additional death benefit of up to $250,000 if your death is accidental.
• Children’s term life insurance rider: With the child term life rider, you can get an additional $1,000 to $10,000 of life insurance coverage for your dependent children between the ages of 15 days and 17 years.
• Waiver of premium rider: Your policy premium will be waived if you become totally disabled for at least six months consecutively.
• Overloan lapse protection rider: Purchasing this rider allows you to borrow money against your cash value or withdraw money without your policy lapsing.
• Cancer care compass rider: This rider gives you access to early detection tests for multiple types of cancer, and can offer financial and health care support if you get diagnosed with cancer.

How Much Does Symetra Life Insurance Cost?

Symetra has more affordable term life insurance policies than many other insurance companies we studied. In general, term life insurance tends to b꧋e cheaper for young and healthy adults, and premiums get more expensive if you apply later in life. Below, you can see Symetra’s term life insurance premium for people in different age groups.

How Much Does Symetra Life Iꦛnsurance Cost for Older Adults?

澳洲幸运5官方开奖结果体彩网:Life insurance premiums get more expensive with age, even for people in good overall health. We weren’t able to collect sa♓mple rates for older adults from Symetra. You can contact an agent to ♛learn how much Symetra life insurance costs for older adults.

How Does Symetra Compare to Other Life Insuran🔜ce Companies?

How to Buy Life Insurance From Symetra

To start the process of 澳洲幸运5官方开奖结果体彩网:purchasing life insurance from Symetra, you must contact an agent. If you’re applying for one of the policies that offers instant approvals—SwiftTerm or SwiftProtector—the agent will start the application, and🐠 you’ll finish it online. For all other policies, the agent will submit the application for you. To reach an agent, you can use the contact details below.

If you apply for one of the instant approval polici𒈔es, you might be able to get coverage on the same day without taking a medical exꩵam. If you are required to complete a medical exam, an agent will help you schedule one. 

Customer Service

The Bottom Line

Symetra is an excellent life insurance company for healthy people who want a no-medical-exam life insurance policy with a high coverage limit. Symetra offers no-exam term life and universal life policies with a maximum death benefit of up to $5 million (for the SwiftTerm policy). It has one of the highest coverage limits for no-exam policies out of the companies 🔯we studied. Symetra’s two no-exam policies also have same-day approvals for 🐽eligible applicants, which is ideal for people who want coverage quickly.

Symetra is a little lacking in product variety outside of no-exam coverage. It doesn’t sell whole life or regular universal life policies. Symetra also doesn’t offer as many riders as many other insurers. If you’re looking for a more feature-rich permanent policy and are willing to take🐭 a medical exam, you may be better off with another company.

Frequently Asked Questions (FAQs)

How Do I File a Claim With Symetra?

To file a claim with Symetra, you can call the claims department at 800-796-3872. You wil🦩l receive a package with the paperwork and instructions for submitting your claim. When you’re ready, mail the package back to Symetra and await payment.

Is Symetra Good at Paying Out Claims?

Symetra has an A rating from AM Best, which means it has an excellent ability to meet policyholder obligations and pay claims. It also has a good NAIC index, showing that customers have made few complaints about clꦗaims or any other Symetra services. After subಌmitting a claim, you should receive your payout within three business days.

Does Symetra’s Life Insurance Build Cash Value?

Symetra’s permanent life insurance policies build 澳洲幸运5官方开奖结果体彩网:cash value. You can withdraw or borrow the cash value while you’re still living. If you have a variable universal policy, you can u🎶se the funds from your cash value to change the amount and frequency of your premiums and increase the death benefitജ.

How We Review Life Insurance Companies

To compile our list of the best life insurance companies, Investopedia first conducted preliminary research on dozens of life insurance comp𒆙anies and determined that 45 met our minimum standard for financial strength, customer satisfaction, and online transparency. For each of these, we then gathered a total of 70 evaluation criteria, resulting in 3,150 data points a♛ltogether. Data was collected between May 20 and July 3, 2024, and sourced from company webpages, media representatives, consumer rating agencies (AM Best, NAIC, and J.D. Power), and customer service calls.

We combined subject matter expert🌳ise, consumer survey and company survey data, and industry research to create a quantitative model that scores each company🐻 based on six major categories:

• Application and Online Service Features: 15%
• Policy Types: 22%
• Policy Features and Riders: 35%
• Financial Stability: 6%
• Customer Satisfaction: 10%
• Cost: 12%

For more information, read our full 澳洲幸运5官方开奖结果体彩网:methodology explanation.