As a result of the historically low interest rate environment, Symetra remains committed to the Guaranteed Universal Life space and will be applying the following product changes.
UL-G
- The annual premium amount, including lump sum deposits and 1035 exchanges, will be limited to 5 times the target premium.
Survivorship UL-G
- The annual premium amount, including lump sum deposits and 1035 exchanges, will be limited to 5 times the target premium.
- The maximum policy face amount will be capped at $15 million.
Important Transition Rules
- As of November 14, all formal Symetra UL-G and Survivorship UL-G applications must be received in good order, fully completed, signed, and dated application, at the Symetra Home Office.
- Symetra Life Illustrator and Winflex illustration systems will be updated to reflect these changes.
- After this date, formal Symetra UL-G and Survivorship UL-G applications exceeding the limitations above will not be accepted.