Symetra Life Insurance Company has strengthened its flagship no-lapse guarantee universal life insurance — Symetra UL–G — enhancing the product’s Chronic Illness and Terminal Illness Riders and adding an optional Chronic Illness Plus Rider. Selected at issue and available at an additional cost, the new Chronic Illness Plus Rider gives policyholders a greater level of control over their insurance protection when they have a qualifying event.

“We’ve enhanced Symetra UL–G to strengthen its guaranteed life insurance protection with living benefits,” said Meg Skinner, senior vice president, Individual Life Sales and Distribution. “For life insurance customers who want to leave a legacy, but also want protection in the event of unexpected health issues, our new Chronic Illness Plus Rider provides an additional way to access their money or create an income stream, should the need arise.”

Symetra UL–G’s inherent, no-cost Chronic Illness Rider and Terminal Illness Rider allow policyholders to access up to 50 percent and 75 percent, respectively, of the policy’s death benefit, with the maximum amount accessible now increased to $500,000. The new Chronic Illness Plus Rider allows for up to 100 percent of the policy’s death benefit to be accessed in advance if the policyholder is annually certified as being permanently unable to perform at least two of the six activities of daily living or having a severe cognitive impairment.

When used in conjunction with Symetra UL–G’s inherent Chronic Illness Rider, policyholders may benefit from a dual-solution approach for accessing their death benefit. With the inherent Chronic Illness Rider, they can access a portion of their death benefit in a lump sum to cover upfront expenses and with the Chronic Illness Plus Rider, they can receive a stream of monthly payments up to 100 percent of their remaining death benefit.

Symetra UL–G is a flexible premium universal life insurance policy with a Lapse Protection Benefit that may work for those who want to:

  • Leave a financial legacy to family or a favorite charity
  • Have lifetime protection with guarantees
  • Have protection against unexpected health concerns such as chronic, critical or terminal illness
  • Provide funds to help cover estate taxes, fees or final medical bills

In addition to Symetra UL-G, the Chronic Illness Rider Plus is available through Symetra CAUL — a flexible premium current assumption UL product. Other optional riders available through both products include an Accidental Death Benefit, Additional Term Rider and Charitable Giving Benefit.

For more information, contact the Symetra Life Sales Desk at 1-800-796-3872.

About Symetra

Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation (NYSE: SYA), a diversified financial services company based in Bellevue, Wash. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent agents and advisors. For more information, visit www.symetra.com.

Symetra’s UL-G and CAUL are flexible premium universal life insurance policies issued by Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004. These policies are not available in all U.S. states or any U.S. territory; however, where available, they are usually issued under policy form number ICC14_LC2.

Life insurance policies contain exclusions, limitations, reductions of benefits and terms for keeping them in force. Please call your insurance professional for complete details.

Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.

Policy riders are not available in all and terms and conditions may vary by state in which they are available. Where available, they are usually issued under the following form numbers: Chronic Illness Rider form number ICC15_LE2, Chronic Illness Plus Rider form number ICC15_LE4, Terminal Illness Rider form number ICC15_LE1, Accidental Death Benefit form number ICC11_LE2, Additional Term Rider form number ICC11_LE3, and Charitable Giving Benefit form number ICC11_LE5.

Lapse Protection Benefit form is number ICC13_LE5 or ICC14_LE7. Insurance coverage will continue as long as the Lapse Protection Benefit remains in effect. Note that any increase in the policy’s face amount after issue will terminate the Lapse Protection Benefit.

A rider is a provision of the policy that may have additional costs, limitations, potential benefits and features that should never be confused with the base policy itself. Before evaluating the benefits of a rider, carefully examine the policy to which it is attached.

Receipt of benefits under the Chronic Illness Plus rider may be taxable, especially if the insured does not have a prescribed plan of care. You should consult your personal tax or legal advisor before applying for this benefit. You may also lose your right to receive certain public funds such as Medicare, Medicaid, Social Security, Supplemental Security Income, and possibly others. This benefit is intended to qualify as an accelerated death benefit under section 101(g) of the Internal Revenue Code. The death benefit value and loan value will be reduced if an accelerated death benefit is paid.

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