Carrier

Symetra secondary market annuities

Symetra Life Insurance Company, based in Bellevue, Washington, has written structured settlement annuities since the late 1980s — contracts whose numbers begin with "AA." Since 2016 it has been owned by Japan's Sumitomo Life; the acquisition changed no contract terms.

Symetra Life Insurance Company · First Symetra National Life Insurance Company of New York

Headquarters: Bellevue, Washington
Writing settlements since: Late 1980s
Parent: Sumitomo Life (since 2016)

See current inventory How the safety compares

What it means

Backed by Symetra

When a payment stream is backed by Symetra, the scheduled payments are that carrier's obligation. You are buying the right to receive those payments — transferred through a court-approved process — at a discount, not a new insurance contract, and the difference between what you pay and what you collect is your yield. Read more about the asset itself on our secondary market annuities guide.

Because the income depends on Symetra continuing to pay, the carrier's financial strength is your protection. These payment rights are not FDIC-insured and generally are not covered by a state guaranty association, so we place only top-rated carriers and show the current rating on every listing. Where a Symetra-backed stream sits against CDs, Treasuries, and new annuities is laid out on our comparison page.

The company

A brief history

Symetra Life Insurance Company has been a consistent structured settlement writer since the late 1980s, issuing nationally from Bellevue, Washington, with First Symetra National Life handling New York contracts. In the standard settlement structure, Symetra Assigned Benefits Service Company acts as the qualified assignee while Symetra Life issues the funding annuity and makes the payments.

In 2016, Symetra Financial Corporation was acquired by Sumitomo Life Insurance Company, one of Japan's major mutual insurers — a change of parent that left contract terms untouched. Symetra settlement contracts are single-premium annuities with no cash value and no loan provision; the fixed schedule is the whole of the obligation.

Retail products, decoded

Symetra's annuity products

Independent guides to the annuities Symetra sells today — what each quoted number really means, from the official product terms.

One guaranteed rate — choose your liquidity trade

Symetra Select Pro & Select Max

Symetra's MYGA pair: one guaranteed-rate core, split by a single trade — Select Max adds an MVA and tighter liquidity for a typically higher rate.

An indexed cap plus a withdrawal percentage — with a 1.20% fee between them

Symetra Income Edge Plus

A fixed indexed annuity with a built-in lifetime withdrawal benefit: one number is an index cap, the other is a withdrawal percentage — neither is a return.

A chosen buffer, 10% to 100% — and variants that credit in down markets

Symetra Trek Plus

Symetra's registered index-linked annuity: buffers from 10% to 100%, plus crediting variants exotic enough to require the prospectus.

Symetra payment stream questions

Are Symetra secondary market annuities safe?

The payments on a Symetra-backed stream are that carrier's obligation, so its financial strength is your protection. These payment rights are not FDIC-insured and generally are not covered by a state guaranty association, which is why we place only top-rated carriers and show Symetra's current rating on every listing. Review the issuer's rating before you commit.

How do I buy a Symetra payment stream?

Browse current inventory, and when a Symetra-backed listing fits, reserve it by its contract number. The right to receive the payments is assigned to you through a court-approved transfer, and the scheduled payments then arrive direct to you. Registering a free account unlocks full terms and investor pricing.

What yield do Symetra-backed streams pay?

Effective yields on current inventory run roughly 4 to 7 percent, depending on the category, the term, and the specific listing rather than on the carrier alone. Each Symetra listing shows its own yield, purchase price, and full payment schedule.

What these assets are, and what they are not

Guaranteed and life-contingent structured settlement payment rights, and lottery payment rights, represent the right to receive factored payments that Pacific Structured Assets purchases and assigns to investors through a court-approved process. They are purchased at a discount to their total scheduled payments.

These payment rights are NOT annuities, NOT insurance products, and NOT securities registered with the U.S. Securities and Exchange Commission. They are not bank deposits, are not FDIC-insured, and are not protected by any state insurance guaranty association. The industry term “secondary market annuity” refers to these payment rights and does not mean you are purchasing an insurance annuity contract.

You acquire the right to receive the payments, not the underlying annuity. The annuity itself does not change hands. Unlike the original structured settlement annuity, which may be shielded from creditors under applicable law, the assigned payment rights you purchase generally do not carry that creditor or bankruptcy protection.

Assigned annuities, offered as a separate product line, are existing insurance annuity contracts reassigned to a new owner through a change of ownership or an irrevocable change of payee.

These are long-term holdings with limited liquidity, and may not be suitable for every investor. There is no public trading market and no daily price. Resale or reassignment of a payment stream to another buyer may be possible, and Pacific Structured Assets can assist, but a resale is not guaranteed and the price it would bring is not guaranteed. Because the payments are fixed, that resale value moves with prevailing interest rates: an investor could realize a gain if rates have fallen since purchase, or a loss if rates have risen. These holdings are best suited to capital an investor can commit for the long term. Nothing on this website is tax, legal, financial, or investment advice. Consult your own advisors before investing.

Pacific Structured Assets, Inc. is an independent company. We are not affiliated with, endorsed by, sponsored by, or otherwise connected to any insurance company, annuity issuer, state lottery, or other payment obligor named on this website. Issuer and carrier names are used solely to identify the entity obligated to make the scheduled payments on a particular payment stream. All company names, trademarks, and service marks are the property of their respective owners; their appearance here is for identification purposes only and does not imply any partnership, agency, sponsorship, endorsement, or other business relationship. No issuer named on this website has reviewed, approved, or endorsed any of its content.

Pacific Structured Assets, Inc. does not provide tax, legal, financial or accounting advice. The material on this website has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal, financial or accounting advice. You should consult your own tax, legal, financial or accounting advisors before engaging in any transaction, including the acquisition of factored structured settlement payments. Pacific Structured Assets is not registered with the Securities and Exchange Commission and is not licensed to sell insurance in any state.

Pacific Structured Assets

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