If you’re considering purchasing life insurance, it’s essential to explore the options available to you. We will delve into Symetra’s various life insurance products, such as term life, and universal life insurance. Final Expense Benefits is committed to exploring their features, benefits, and potential drawbacks. We’ll also discuss Symetra’s reputation, customer service, and financial strength, ensuring you have all the information you need to make an informed decision about your life insurance needs. When it comes to protecting your family’s financial future, the pros and Final Expense Benefits have got you covered.
Symetra Life Insurance Company, a direct subsidiary of Symetra Financial Corp was established in 1957. Symetra began as a subsidiary of Safeco, an American insurance company based in Seattle. Safeco Insurance once sold life insurance in addition to auto and homeowners insurance. In 2004, Safeco split their life insurance investment sectors off and they became Symetra Financial. It has been almost 20 years since their split with Safeco Insurance. We will take a deep dive into their most current policies while looking into Symetra Life Insurance reviews.
Term life insurance is a type of life insurance that does not last your whole lifetime and instead has a set time limit that is set to end. Like most term insurances, Symetra Life Insurance offers term insurance policies that have no value outside of the death benefit and has no saving component like with whole life insurance policies. Coverage lengths are typically 10, 15, 20, and 30-year periods.
There are two different options for Syemtra Life Insurance for potential buyers. The first is called Symetra SwiftTerm. Their SwiftTerm option is available to people between the ages of 20-60 years old. They say that finding out more about how much you can qualify for will only take you 18 minutes but there is no other way to find out how much you can get without applying. The second option is their standard Symetra Term option. It is similar to their SwiftTerm life insurance option except the age of coverage goes up to 80 years old and you would have to speak to one of their agents to know how much coverage you qualify for.
Whole life insurance is a type of permanent life insurance that provides coverage for the entire lifetime of the insured individual. It offers a death benefit to beneficiaries and also accumulates cash value over time. Whole life insurance is often chosen for long-term financial protection and estate planning purposes. Unfortunately, Symetra Life Insurance Company does not offer standard whole-life insurance.
Universal life insurance is another type of permanent life insurance that offers flexibility in premium payments and death benefit coverage that Symetra Life Insurance provides. It combines a death benefit with a cash value component that earns interest based on market performance. IUL insurance allows policyholders to adjust their premium payments within certain limits, providing flexibility to adapt to changing financial circumstances.
Like other permanent life insurance policies universal life policies accumulate a cash value that can earn interest based on the performance of the insurer’s selected investment options. The cash value options are tied to a specific index as defined by the IUL insurance policy. Policyholders may have the opportunity to allocate their cash value among various investment options. Universal life insurance policies may offer the option to take out policy loans against the accumulated cash value. However, it’s important to note that outstanding loans can reduce the death benefit if not repaid.
These $10,000 coverage policies have steady and affordable premiums for the life of the policy. If you are looking for great coverage with low monthly premiums, we recommend these top carriers for all of your final expense needs. This is Final Expense Benefits’ best $10,000 insurance policies for seniors.
AM Best can best be described as a rating agency focused on the creditworthiness of insurance companies worldwide. Their grading system is similar to the education system where they go from A+ to F. They measure the likelihood of a company defaulting on its financial obligations to its consumers. Symetra Life Insurance has an AM Best Rating of A which is an excellent rating.
JD Power uses data and AI (artificial intelligence) to understand complex consumer behavior. They are committed to providing unbiased information and embody the highest ethical and professional standards. JD Power measures several different insurance and annuity products and ranks them based on customer service and customer engagement. They are committed to providing statistics for any customer service satisfaction trends with life insurance.
JD Power also only chooses certain life insurance and annuity companies to measure customer service satisfaction. Symetra Life Insurance did not meet the criteria to be featured on their 2022 list.
The National Complaint Index (NAIC) records complaint trends for companies every year. They review the customer complaints filed for specific insurance companies. Their rating system has anything above 1.0 as above average for complaints and anything below would be below average for complaints. When examining Symetra Life Insurance we noticed that the top complaints by code were from their life insurance division. However, Symetra’s 2022 NAIC code for life insurance still fell below average at 0.37.
Symetra Life Insurance’s limited policy features and high minimum amounts should be considered when searching for life insurance. As with any life insurance decision, it’s crucial to evaluate your unique needs, compare quotes from multiple insurers, and carefully review policy terms and conditions. Symetra Life Insurance can be a great choice for someone looking for a term life insurance policy or needs a larger amount of coverage. However, we do not recommend Symetra Life Insurance when it comes to needing only a small policy or if you want to only cover funeral insurance. If you are wealthier and interested in investing your cash value in stocks, perhaps this company would be a good fit. But if you are like the millions of Americans who just need to leave a small nest egg or pay for final costs, then we suggest one of the carriers we work with.
Final Expense Benefits partners with over 20 carriers with customer satisfaction guaranteed. They offer no medical exam options at much more affordable rates that fit your needs. Some of our highly-rated carriers include:
If you are looking for trusted and affordable final expense insurance, the experts at Final Expense Benefits have got you covered. Call one of our talented agents today at 1 (866) 311-4338 to get an affordable quote with one of our highly-rated insurance carriers.
If you have family or dependents who you want to support should you pass, then burial insurance is absolutely worth it.
Most final expense insurance policies do not require a health exam. You will have to answer some simple health questions in their application.
Death benefits from a burial insurance policy are not held in probate. So your loved ones should receive the death benefit very quickly.