Last updated June 18, 2009
With roots dating back to 1957, Symetra Financial has grown to become a family of companies that together serve more than 2 million customers in all 50 states. Originally a part of a Seattle-based Fortune 500 insurance company, on Aug. 2, 2004, the life insurance and investments subsidiaries were purchased by an investor group led by White Mountains Insurance Group, Ltd., and Berkshire Hathaway Inc. Together, these companies became the privately held corporation known today as Symetra Financial.
Symetra Financial is a family of companies with nearly a half-century of experience providing retirement plans, employee benefits, annuities and life insurance through independent distributors nationwide. The company has nearly $20 billion in assets.
Symetra Life offers six different types of life insurance. These are term life, whole life, universal life, variable universal life, flexible premium variable life, and worksite. Term life insurance is the least expensive form of life insurance. The insured’s premiums remain level throughout the term period you choose, 10, 15, 20 or 30 years. Whole life insurance is permanent insurance with fixed premiums for the life of the policy. It provides guaranteed cash value, which the insured can borrow against. Universal life insurance is permanent insurance that allows the insured to increase or decrease their premiums at various stages of their life. A key benefit is the ability to withdraw the cash value or borrow against it at a low-to-zero net cost. Variable universal life insurance combines permanent insurance with investment flexibility. The death benefit and cash value can fluctuate, either up or down, based on the performance of the investments choosen. Flexible Premium Variable Life is a truly unique, patent-pending financial planning solution that combines the strengths of annuities and life insurance into a single product that maximizes financial growth while ensuring assets can later pass to heirs free of federal income taxes. Worksite is a workplace program that gives employees the option of purchasing life insurance through the convenience of payroll deductions, and, because the policies are individually owned, coverage stays with the employee if they leave their job.
Contact Symetra Life Insurance Company at:
777 108th. Avenue NE, Suite 1200
Bellevue, WA 98004-5135 Telephone: (800) 210-1106
Sources: “History,” Symetra Web site, “Types of Life Insurance,” Symetra Web site, 2009; “Symetra,” Wikipedia, May 2009; “Contact Us,” Symetra Web site, 2009.