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 its 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.
To learn more about your senior life insurance options, call us at (866) 786-0725 Monday through Friday, 9 a.m. to 5 p.m. ET, or check our free online quoting tool for a personalized pricing estimate.
Key takeaways
Symetra does not require a medical exam.
Symetra Life Insurance offers a range of life insurance options, including both term life and permanent policies.
Some policies from Symetra are not available in all states.
Symetra offers its own term life insurance called SwiftTerm.
History of Symetra Life Insurance
Symetra Life Insurance has been around for over 65 years, but how do its services measure up? Final Expense Benefits is dedicated to providing you with all the information you need to make an informed decision when it comes to your life insurance coverage. We will cover the pros, cons, and financial strength of Symetra Life Insurance. When it comes to protecting you and your family, Final Expense Benefits can help you find a plan that provides you with the coverage you need.
Continue reading to learn more about Symetra Life Insurance, or call Final Expense Benefits at (866) 786-0725, Monday through Friday, 9 a.m. to 5 p.m. ET, to ask questions and to find a plan that works for you. Want an estimate before calling? Our free online quoting tool is available 24/7 for you to receive a free estimate.
Coverage Options for Symetra Life Insurance
1
Symetra Term Life Insurance
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. Symetra states 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.
2
Symetra Whole Life Insurance
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.
3
Symetra Universal 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.
Best $10,000 Burial Insurance Companies
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:
| Company |
Male 50y/o |
Female 50y/o |
Male 60y/o |
Female 60y/o |
Male 70y/o |
Female 70y/o |
|---|---|---|---|---|---|---|
|
$34 |
$27 |
$50 |
$40 |
$70 |
$56 |
|
|
$31 |
$26 |
$43 |
$35 |
$71 |
$53 |
|
|
$31 |
$24 |
$44 |
$33 |
$75 |
$53 |
|
|
$34 |
$29 |
$45 |
$35 |
$79 |
$59 |
|
|
$33 |
$26 |
$48 |
$36 |
$82 |
$58 |
These rates are calculated for a $10,000 burial insurance policy, using a non-smoking applicant with no pre-existing health conditions.
If you’re interested in these or any of our other life insurance options, call us at (866) 786-0725 to learn more. Be sure to check our free online quoting tool for personalized pricing estimates.
Symetra Life Insurance Pros and Cons
Pros
- Financial Stability
Symetra Life Insurance has a solid financial foundation and a long-standing reputation in the industry. Established in 1957, the company has built a strong track record of financial stability and reliability. This has been confirmed by their AM Best rating, with AM Best giving Symetra Life Insurance a grade of excellent. - Flexible Policy Options
Symetra Life Insurance understands that life is ever-changing, and its policies reflect this understanding. With options to customize your coverage and adapt it to your evolving needs, Symetra provides flexibility. This may include converting term policies to permanent coverage or adjusting coverage amounts to match significant life events such as marriage, the birth of a child, or purchasing a home.
Cons
- Limited Online Resources
While Symetra Life Insurance has an informative website, it falls short in terms of comprehensive online resources. Potential customers may find it challenging to access detailed policy information or calculate premium estimates without engaging directly with a Symetra representative. Expanding their online resources could greatly enhance the user experience and streamline the policy selection process.
- Mixed Customer Reviews
When considering Symetra Life Insurance, it’s important to acknowledge the varying customer experiences shared in reviews. While some policyholders express satisfaction with the company’s customer service and claims process, others report difficulties and delays. Especially on common review websites such as the Better Business Bureau or Yelp. Conducting thorough research and reading multiple reviews can help you gauge the overall customer sentiment and make an informed decision. - Limited Riders
Like other insurance companies, Symetra offers insurance policy riders to enhance coverage and customize policies further. However, compared to some competitors, the available riders may be relatively limited. Compared to its competitors, Symetra Life Insurance has only a handful of insurance riders to choose from.
- No Final Expense Insurance or Small Coverage Options
If you are someone looking for a small coverage amount or just enough life insurance coverage to cover the costs of a funeral; you can skip Symetra. Symetra Life Insurance Company does not offer any kind of final expense life insurance, and the smallest amount of life insurance coverage you will be able to purchase from them is $100,000.
Symetra Life Insurance Third-Party Ratings
1
A.M. Best Rating
AM Best assesses the credit of life insurance companies, as well as their ability to meet financial obligations, to help consumers.
Symetra’s AM Best rating is A+. This means that Symetra Life Insurance has a strong ability to meet insurance obligations.
2
BBB Rating
The Better Business Bureau (BBB) assists customers in finding legitimate businesses by tracking customer complaints and providing complaint resolution services between customers and companies. The rating scale for the BBB ranges from F to A+.
Symetra has a rating of A+ from the BBB; however, it is important to note that the BBB has not accredited Symetra, as the company has not provided the necessary information.
3
NAIC Rating
The National Association of Insurance Commissioners (NAIC) tracks customer complaints made against life insurance companies and rates them based on their yearly complaint index. Ratings from the NAIC range from 0 to 10; the higher the number, the higher the rate of complaints.
The NAIC’s rating for Symetra Life Insurance’s complaint index is 0.02, indicating very few complaints.
Symetra Life Insurance Reviews
Michelle P
Arimo, ID
1/5
Terrible customer service. Very slow to respond, if getting a response at all. Wanted to cancel my policy, had to call three times for assistance, but never got follow-up, so found a form to submit cancellation myself online. Once cancellation was confirmed, I never got a refund for the remaining months paid (annually), and have been trying to reach customer service for a response for weeks now. Still trying to fight to get my refund.
Tracy D
Roswell, NM
1/5
Horrible service. I was out with a hip replacement. Stayed out of work for over 4 months. They had tried every excuse not to pay me the full 12 weeks. I was also supposed to go on long term and this company didnt even fill their obligation of 12 weeks.
William F
South Portland, ME
1/5
If I could leave a minus 10-star, I would. This company is HORRIBLE!! Good luck on getting anyone to fix their mess-ups and getting a call back.. I’ve called numerous times, emailed, Facebooked, still nothing. They sent my daughter a 1099 on money that’s not even hers and I can’t get anyone to do anything about it. One of the guys I managed to get a hold of said, “just tell your daughter to not claim that on her taxes and she’ll be fine”, I told him that’s not how this works. This company has been a headache from the beginning. My advice is RUN for the hills away from this company unless you enjoy getting screwed and losing money.
Our Review and Final Thoughts
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 a high amount of coverage.
However, we do not recommend Symetra Life Insurance if you only need a small policy or want to cover only funeral expenses. If you are wealthier and interested in investing your cash value in stocks, perhaps this company would be ideal, but if you are like the millions of Americans who would like coverage for final expenses, 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’re interested in these or any of our other life insurance options, call us at (866) 786-0725 to learn more. Be sure to check our free online quoting tool for personalized pricing estimates.
FAQ
Is burial insurance worth getting?
If you have family or dependents who you want to support should you pass, then burial insurance is absolutely worth it.
Do I need a medical exam?
Most final expense insurance policies do not require a health exam. You will have to answer some simple health questions in their application.
How quickly will my death benefits be paid to my loved ones?
Death benefits from a burial insurance policy are not held in probate. So your loved ones should receive the death benefit very quickly.
What is term life insurance?
Term life insurance provides coverage for a specific period, typically 10 to 30 years. Once the period of time ends, the policy must be renewed to continue receiving coverage.
What is burial insurance?
Burial insurance is a low-cost type of whole life insurance that offers seniors affordable and accessible coverage. A typical burial insurance payout ranges from around $5,000 to $50,000 and is typically used to cover end-of-life expenses, such as funerals, cremations, burial plots, and other expenses.
How much does a funeral cost?
The average funeral cost in the United States is about $10,000, which is why most burial insurance quotes are for $10,000 polices. Our free funeral cost calculator can estimate the coverage you may need.
Is Symetra Life Insurance Good?
Symetra Life Insurance has solid financial backing and has been around for over 50 years. However, the majority of customer reviews are negative, noting difficulty in receiving their payouts. There are other carriers available that offer more affordable rates and better coverage. Contact Final Expense Benefits at (866) 786-0725 Monday through Friday, 9 a.m. to 5 p.m. ET to speak with an agent who can assist you in finding a plan that works for you and your loved ones.
How old is Symetra Life Insurance Company?
Symetra was founded in 1957, and after over six decades, Symetra offers a variety of life insurance products, including term and permanent policies. They have offerings available to those looking for temporary or lifelong coverage. Symetra is also known for its SwiftTerm product, which is an affordable term life insurance that is quick and convenient, due to the product being available online for users to apply for.