Symetra Life Insurance Company offers a variety of life insurance products, including two separate term life insurance options. So, if you’re comparing quotes, you may be asking which Symetra term life insurance plan is a good choice? The answer depends on your needs.
Term life insurance provides families with financial protection for a specific period of time. Most plans typically include contract lengths ranging from 10 to 30 years and varying coverage amounts.
Yet, each policy has different requirements, prices, and details. Therefore, finding the correct term life insurance requires comparing options while considering your specific concerns.
Our review will compare the two term life insurance plans from Symetra:
- Symetra Term Insurance
- Symetra SwiftTerm Insurance
These two plans offer affordable term life insurance coverage to give you and your family greater peace of mind. Both options are backed by a trusted company but include different application processes and medical exam requirements from each other.
The following Symetra term life insurance review gives you a detailed look at both choices. In addition, you can explore age limits, policy riders, and more. We have also included a comprehensive FAQ to paint a fuller picture of what you get with Symetra Term and Symetra SwiftTerm.
Before we get into the term insurance review, let us give you a brief history of Symetra Life Insurance Company, followed by our review of both term life insurance options.
Symetra Life Insurance Company
Symetra Financial was created as a subsidiary of Safeco in 1957. A decade later, the company had over $1 billion worth of insurance policies in force. By 1995, Symetra had $10 billion in assets.
In 2004, parent company Safeco sold its life insurance business, including Symetra, to an investor group. The investor group was led by White Mountains Insurance Group and Warren Buffett’s Berkshire Hathaway.
In 2016, Symetra was acquired by Japanese insurer Sumitomo Life Insurance Company. The company was purchased for $3.8 billion. Symetra now offers a variety of insurance and financial products, including retirement plans, employee benefits, annuities, and life insurance.
Sumitomo Life is one of Japan’s largest life insurance companies and has over 100 years of history. Together, Symetra and Sumitomo Life have total assets of over $370 billion.
Although purchased by a Japanese insurer, Symetra’s U.S. headquarters can be located in Bellevue, Washington.
Symetra Life Ratings and Reviews
Financial ratings are an essential tool for evaluating an insurance company. These ratings can help you analyze a company’s stability and ability to withstand financial challenges.
Symetra has earned high financial strength ratings from several third-party agencies, including:
- AM Best: A (Excellent)
- Fitch: A (Strong)
- Moody’s: A1 (Good)
- Standard & Poor’s: A (Strong)
Symetra also maintains a positive liabilities-to-assets ratio. The company has over $58.9 billion in assets and less than $50 billion in total liabilities.
These details indicate that Symetra is a financially stable company that you can rely on to fulfill any obligations related to your term life insurance policy.
Symetra Term Life Insurance Options
Symetra life insurance company offers two separate term insurance options:
- Symetra Term
- Symetra SwiftTerm
Symetra Term
Symetra Term is the company’s standard fully underwritten term life insurance plan. It includes competitive prices with level premiums for contract lengths from 10 years to 30 years. It is also available for applicants up to the age of 80 when choosing a 10-year term. The minimum coverage amount is $250,000, which may suit those with greater financial responsibilities.
Symetra Term includes a traditional application process, including a medical exam.
- 10-, 15-, 20-, and 30-year contract lengths
- $250,000 minimum coverage
- Traditional underwriting with medical exam
- Conversion options
- Renewable to age 95
Symetra SwiftTerm
Symetra SwiftTerm is the company’s latest term life insurance product. The term insurance option includes a “swift” application utilizing accelerated underwriting and a digital application process. As a result, clients can apply, pay, and get their policy online in an hour or less.
It also includes many options you expect from a term life plan, including multiple contract lengths and policy riders.
- 10-, 15-, 20-, and 30-year contract lengths
- $100,000 minimum coverage
- Accelerated non-medical underwriting
- Conversion options
- Renewable to age 95
- Instant approval
Both options include level premium contract lengths up to 30 years, renewability up to age 95, and a conversion option.
The main differences are the application and underwriting processes.
SwiftTerm is entirely digital and includes accelerated underwriting with no medical exam. You may even get same-day approval.
Symetra Term is fully underwritten and requires an exam. However, it also covers a wider age range and includes an optional rider not available with SwiftTerm.
Symetra Term vs. Symetra SwiftTerm Overview
| Policy Features | Symetra Term | SwiftTerm |
|---|---|---|
| Issue Ages: | 20 to 80 years old | 20 to 60 years old |
| Contract Options: | 10-Year: 20-80 15-Year: 20-75 20-Year: 20-68 (20-65 nicotine users) 30-Year: 20-55 (20-50 nicotine users) | 10-Year: 20-60 15-Year: 20-60 20-Year: 20-60 30-Year: 20-50 |
| Coverage Amounts: | Minimum Amount: $250,000 Maximum Amount: $1,000,000+ | Minimum Amount: $100,000 Maximum Amount: $2,000,000 |
| Policy Riders: | Accelerated Death Benefit Accidental Death Benefit Additional Term Rider Insured Children's Term Waiver of Premium | Accelerated Death Benefit Accidental Death Benefit Children's Term Rider Waiver of Premium |
| Renewability: | Renewable up to age 95 | Renewable up to age 95 |
| Conversion Option: | Convertible up to age 70 | Convertible up to age 70 |
| Medical Exam Requirements: | Full Underwriting Medical exam required. | Accelerated Underwriting Potential for an instant non-medical approval. |
| State Availability: | Available in all states | Available in all states except NY, SC and VA |
Issue Ages
| Symetra Term | SwiftTerm |
|---|---|
| 20 to 80 years old | 20 to 60 years old |
Issue ages are the minimum and maximum age limits in which an applicant can apply for a policy.
Symetra Term – Medical Exam
Because Symetra Term is a fully underwritten term insurance policy that requires a medical exam, the coverage is available to applicants aged 20 to 80 years old.
SwiftTerm – No Medical Exam
SwiftTerm is limited to issue ages of 20 to 60 years old. The shorter issue ages are because of the potential of an accelerated non-medical process. Therefore, if you are over age 60, you will not be eligible for SwiftTerm policy.
Both Symetra term life insurance options have maximum issue ages on the available term contracts.
Contract Options
| Symetra Term | SwiftTerm |
|---|---|
| 10-Year: 20-80 15-Year: 20-75 20-Year: 20-68 (20-65 nicotine users) 30-Year: 20-55 (20-50 nicotine users) | 10-Year: 20-60 15-Year: 20-60 20-Year: 20-60 30-Year: 20-50 |
Contract options are the timeframe in which your premium payments remain fixed, also referred to as the level premium period. Therefore, shorter contracts will be more affordable than longer contracts.
Ideally, you want to choose a contract length that will last long enough to cover the financial risk that would become a burden to other loved ones. Each contract option has a maximum age cutoff, with the 10-year offering coverage up to age 80.
Symetra Term – Medical Exam
- 10-Year: 20 to 80 years old
- 15-Year: 20 to 75 years old
- 20-Year: 20-68 years old (20-65 nicotine users)
- 30-Year: 20-55 years old (20-50 nicotine users)
Due to the medical exam requirements, Symetra Term offers the higher maximum age. Maximum issue ages will be less for nicotine users on both the 20 and 20-year contract options.
SwiftTerm – No Medical Exam
- 10-Year: 20 to 60 years old
- 15-Year: 20 to 60 years old
- 20-Year: 20-60 years old
- 30-Year: 20-55 (20-50 nicotine users)
SwiftTerm is available to applicants up to age 60 with the potential for no medical exam underwriting on the 10, 15, and 20-year contract options. The 30-year is limited to applicants up to age 55 or age 50 if you currently use nicotine.
Coverage Amounts
| Symetra Term | SwiftTerm |
|---|---|
| Minimum Amount: $250,000 Maximum Amount: $1,000,000+ | Minimum Amount: $100,000 Maximum Amount: $2,000,000 |
The coverage amount also referred to as the death benefit, is the amount of money paid out to your beneficiary if you were to pass away during the contract period.
Choosing the right amount of life insurance coverage will vary for everyone, but most life insurance experts recommend that families have anywhere from 5-17x your annual income.
Symetra Term – Medical Exam
- Minimum Amount: $250,000
- Maximum Amount: $1,000,000+
Symetra Term offers a minimum coverage amount that starts at $250,000, much higher than SwiftTerm. However, you will not be capped to a maximum coverage amount with Symetra Term. Therefore, if your life insurance needs are greater than $2,000,000, you can apply for it with Symetra Term.
SwiftTerm – No Medical Exam
- Minimum Amount: $100,000
- Maximum Amount: $2,000,000
SwiftTerm offers a $100,000 minimum coverage, typical with most term insurance providers. However, the term insurance option does have a maximum amount of $2,000,000, which is on the higher end for providers offering no medical exam coverage.
Need help figuring out how much life insurance coverage you need? Check out this easy-to-use life insurance needs calculator, which can help you determine potential financial risks that may need life insurance protection.
Policy Riders
| Symetra Term | SwiftTerm |
|---|---|
| Accelerated Death Benefit (Included) Accidental Death Benefit (Optional) Additional Term Rider (Optional) Insured Children's Term (Optional) Waiver of Premium (Optional) | Accelerated Death Benefit (Included) Accidental Death Benefit (Optional) Children's Term Rider (Optional) Waiver of Premium (Optional) |
Both Symetra term life insurance plans include a free policy rider and share a few option riders that can be added to the base coverage at an additional cost. The available policy riders include:
- Accelerated Death Benefit Rider – Symetra Term & SwiftTerm
- Accidental Death Benefit Rider – Symetra Term & SwiftTerm
- Additional Term Rider – Symetra Term
- Children’s Term Rider – SwiftTerm
- Insured Children’s Term Rider – Symetra Term
- Waiver of Premium – Symetra Term & SwiftTerm
Accelerated Death Benefit Rider
Advances up to 75% of the policy’s death benefit, up to a maximum of $500,000, can be accessed in advance if a licensed physician certifies that the insured is terminally ill with less than 12 months to live. The benefit is paid in a lump sum. Included at no additional cost.
Accidental Death Benefit Rider
Provides an additional death benefit of three times the policy’s face amount up to $250,000 if the insured’s death is accidental. Only available if you’re between the age of 20-50. Available at an extra cost.
Additional Term Rider
Adds level term life insurance coverage for a family member or business partner, with face amounts starting at $100,000. The rider must be for the same term coverage period as the primary insured’s term. The additional insured will be required to qualify through full underwriting, including a medical exam. Available to all applicants aged 20-80. Available at an extra cost.
Children’s Term Rider
Provides $1,000 – $10,000 coverage on children ages 15 days to 17 years old. The benefit is paid if death occurs before age 23 and only if the term insurance is active. Available at an extra cost.
Insured Children’s Term Insurance Rider
Provides $1,000 – $10,000 coverage on children ages
15 days to 17 years old. The benefit is paid if death occurs before age 25 and only if the term insurance is active. Available at an extra cost.
Waiver of Premium Rider
Waives premiums for policies with a death benefit of $5 million ($2 million if SwiftTerm) or less and continues coverage if the insured is totally disabled for a consecutive period of at least 6 months. Only available if you’re between the age of 20-50. Available at an extra cost.
Rate Classes
| Symetra Term | SwiftTerm |
|---|---|
| Super Preferred Non-Nicotine Preferred Non-Nicotine Standard Plus Non-Nicotine Standard Non-Nicotine Preferred Nicotine Standard Nicotine | Super Preferred Non-Nicotine Preferred Non-Nicotine Standard Non-Nicotine Preferred Nicotine Standard Nicotine |
Rate classes are a staple of life insurance, underwriting, and how much you will pay for your life insurance coverage. Every life insurance company uses rate classes to measure an applicant’s risk.
The insurance company will assign a rate class upon approval for a policy. The rate class you are approved with will determine your rates for your term insurance contract.
Symetra Term – Medical Exam
- Four non-tobacco rate classifications and two tobacco rate classifications.
SwiftTerm – No Medical Exam
- Three non-tobacco rate classifications and two tobacco rate classifications.
SwiftTerm does not offer a Standard Plus option.
Renewability
| Symetra Term | SwiftTerm |
|---|---|
| Renewable to age 95 | Renewable to age 95 |
When the level premium paying period of a term insurance policy ends, you have the option to keep paying to receive protection under the same policy without having to go through re-approval. This is referred to as the renewability period.
Both Symetra Term and SwiftTerm offer renewability up to age 95. It is important to know that the rates are often expensive if you decide to continue coverage outside of the level premium period. With each new year, the rates will increase.
Should you still need life insurance protection after the level premium period has ended, it is always recommended to re-apply for a new term insurance contract to lock in new lower rates.
Conversion Option
| Symetra Term | SwiftTerm |
|---|---|
| Convertible up to age 70 | Convertible up to age 70 |
A conversion option is an alternative to paying an annual renewable premium payment after a level premium period has expired. Symetra will allow the term insurance contract to be exchanged for a permanent policy without evidence of insurability with a conversion option.
Both Symetra Term and TermSwift offer the same conversion option. To successfully convert the term insurance coverage, it must be requested before the end of the 10th policy year or before age 70, whichever is earlier.
Converting a Symeta term insurance policy can be expensive since you would be exchanging a term insurance policy for a permanent plan. However, there are some benefits to converting an existing term insurance policy.
First, if you realize that your insurance needs have switched from temporary to permanent, a conversion option will allow for an easy transition to a permanent plan.
Second, a conversion option is often best for those who have purchased a term insurance policy and then have had severe changes in their health, preventing them from requalifying for a new policy.
Choosing to convert an existing term policy to permanent coverage does not require medical approval as it is guaranteed.
Medical Exam Requirements
| Symetra Term | SwiftTerm |
|---|---|
| Full Underwriting - Medical exam is required | Accelerated Underwriting - Potential for instant approval without a medical exam. |
Symetra term insurance plans are available in a traditional underwriting option, requiring a medical exam and an accelerated underwriting option that can offer the potential of getting life insurance coverage without a medical exam.
Symetra Term – Medical Exam
A fully underwritten application process that requires a medical exam provided by Symetra at no cost.
SwiftTerm – No Medical Exam
SwiftTerm offers the potential for instant approval with an accelerated non-medical underwriting option to qualifying applicants. Individuals who do not meet the requirements for instant approval or accelerated underwriting may be required to complete a medical exam to be considered for a policy.
Application Process for Symetra Term Life Insurance
Symetra Term and SwiftTerm require you to apply through a licensed insurance professional, such as our company. However, each option uses a different application process.
Symetra Term uses a traditional application process. You will have the choice of completing a paper or electronic application with the help of a licensed agent.
A paramedical exam will be requested upon completion of the life insurance application. An examiner will contact you to schedule an exam date convenient to your schedule. Exams take roughly 30 minutes to complete and consist of health questions and labs.
After completing the medical exam, Symetra will determine if approval can be made based on the results received. There is always the possibility that medical records may need to be requested to help assist with underwriting.
A final rate class will be provided and a policy mailed to you if approval has been determined and coverage has been accepted. When applying for Symetra Term, the typical turnaround time is 30 days or less for approval.
Symetra SwiftTerm is completed online, offering a completely automated end-to-end digital application process. It includes a series of medical and non-medical questions to help determine the underwriting process. The data is reviewed using Symetra’s real-time intelligent application system.
SwiftTerm includes three potential paths:
- Instant approval (coverage in as little as 25 minutes)
- Accelerated underwriting (coverage in 24-72 hours)
- Full underwriting (coverage in about 30 days)
Individuals with certain medical conditions, such as diabetes and bipolar disorder will have their applications sent for the full underwriting process.
Certain non-medical conditions and situations may also result in the need for full underwriting:
- Frequent insurance applications
- High amounts of existing coverage
- Participation in high-risk activities
- Bankruptcy
- Adverse driving history
- A criminal conviction in the last 10 years
- Criminal charges pending
- Currently receiving disability benefits
No matter the outcome, you receive a real-time decision on whether your application qualifies for instant approval, accelerated underwriting, or full underwriting. Your coverage may start within 25 minutes if you qualify for instant approval.
Symetra Term Life Insurance Frequently Asked Questions
After reviewing the basics of Symetra term life insurance, you may still have a few details you want to explore. The following frequently asked questions should help address any remaining concerns. If we missed anything, please leave a comment at the end.
Is Symetra a Good Company?
Symetra is a respected company that has served customers throughout the US since the late 1950s. Sumitomo Life acquired the company in 2016. The parent company is one of the largest insurers in the world.
Symetra also offers a variety of insurance products, including five different permanent life policies. The company has approximately 1.6 million customers in the United States.
Along with strong financial strengths ratings from some of the most well-respected independent rating organizations, Symetra is a good company. You should feel confident when purchasing a life insurance policy.
What Determines Eligibility for Symetra Term Life Insurance Coverage?
Eligibility for Symetra term life insurance depends on a wide variety of details. The main factors that influence your eligibility include:
- Your age
- Health and medical history
- Insurance history
- Finances and credit history
- Lifestyle and profession
- Intended coverage amount
These factors help Symetra determine which underwriting rate class to assign when reviewing your application. Your underwriting class determines the rates for the premiums. Smokers and other nicotine users receive higher rates.
Certain conditions may also disqualify you from getting a policy from Symetra. Disqualifying conditions include:
- Alzheimer’s disease
- Amyotrophic lateral disease (ALS)
- Cirrhosis of the liver
- Cystic fibrosis
- Huntington’s disease
- Implanted cardiac defibrillator
- Multiple myeloma
Along with the information that you provide, Symetra uses data received from the Medical Information Bureau (MIB), driving records, prescription reports, and your medical exam to assist with underwriting.
Is a Medical Exam Required to Apply for Symetra Term Life Insurance?
A medical exam is required when applying for Symetra Term and may be potentially required with SwiftTerm.
- Symetra Term applicants must complete the traditional underwriting process, including a medical exam.
- Symetra SwiftTerm applicants must complete a pre-qualifying checklist to determine whether they qualify for instant approval or accelerated underwriting.
Some of the conditions and issues that disqualify you from accelerated underwriting include:
- Alcohol or drug abuse
- Current marijuana use
- Blood clotting disorders
- Bipolar disorder
- Diabetes
- Hepatitis B or C
- Heart disease
- Multiple sclerosis
- Muscular dystrophy
- Parkinson’s disease
You may still apply for Symetra term life insurance if you have one of these conditions. However, you will need to complete the full underwriting process instead of the accelerated process. In addition, a medical exam will be scheduled after you apply.
How Quick Is Approval for Coverage?
If applying for a SwiftTerm application process, approval can be as fast as 25 minutes after completing the application. If an applicant qualifies for the accelerated underwriting path, it is estimated that approval will likely occur 24-72 hours after the application has been submitted.
If you are required to go through the full underwriting process with a medical exam, the average turnaround time for approval is 30-days.
What Happens After You Are Approved for Coverage?
If your application is approved, Symetra sends you an offer for coverage. If accepted, Symetra will mail a policy to you and any remaining forms requiring a signature to finalize coverage.
If you prefer your policy to be sent via email, that option can be elected as well.
Symetra SwiftTerm uses an entirely electronic application process. The offer for coverage will be sent electronically. You can instantly create a SwiftTerm account and complete your first payment online if you accept the offer. The life insurance policy is valid immediately, and a copy of the life insurance policy will be sent to you via email.
Are Symetra Term Life Insurance Plans Affordable?
Symetra Term is competitively priced. However, it is not the cheapest term life insurance option or the most expensive.
Symetra SwiftTerm launched in early 2021 and often comes with the best price or within the top five best prices compared to other term life products.
*Life insurance rates often change, so if you’re thinking about a policy, especially a non-medical policy, we highly recommend you jump on getting a SwiftTerm policy as their rates are excellent at the moment.
Symetra Term Life Insurance Rate Chart
| Male | Symetra Term 10 | SwiftTerm 10 | Symetra Term 30 | SwiftTerm 30 |
|---|---|---|---|---|
| Age 30 | $16.19 / month | $13.17 / month | $35.81 / month | $30.75 / month |
| Age 35 | $16.19 / month | $14.00 / month | $40.82 / month | $35.79 / month |
| Age 40 | $21.00 / month | $17.50 / month | $57.06 / month | $52.01 / month |
| Age 45 | $30.98 / month | $27.56 / month | $89.60 / month | $81.45 / month |
| Age 50 | $46.41 / month | $41.56 / month | $145.33 / month | $131.65 / month |
| Age 55 | $75.37 / month | $69.56 / month | $262.50 / month | Not Available |
| Age 60 | $125.07 / month | $113.74 / month | Not Available | Not Available |
| Female | Symetra Term 10 | SwiftTerm 10 | Symetra Term 30 | SwiftTerm 30 |
| Age 30 | $13.52 / month | $11.81 / month | $30.18 / month | $26.05 / month |
| Age 35 | $14.44 / month | $12.25 / month | $34.45 / month | $30.07 / month |
| Age 40 | $18.35 / month | $15.72 / month | $46.13 / month | $41.40 / month |
| Age 45 | $26.43 / month | $24.89 / month | $69.06 / month | $62.67 / month |
| Age 50 | $36.71 / month | $33.69 / month | $104.22 / month | $98.33 / month |
| Age 55 | $56.57 / month | $51.53 / month | $182.44 / month | Not Available |
| Age 60 | $82.13 / month | $76.12 / month | Not Available | Not Available |
*Preferred Plus Non-Nicotine underwriting classification. Monthly Male/Female premium rates are current as of 1/24/2022, representing the cost of a $500,000 Symetra Term and Symetra SwiftTerm 10 and 30-year life insurance policy.
What Happens After the Level Premium Ends?
After the level premium ends, both term insurance options offer a renewability option up to age 95. Should you choose to renew your coverage, you will keep your existing policy, but the premiums will increase annually. Your policy will no longer be at a fixed rate.
You are not required to keep paying on an existing contract. However, should you no longer need coverage, you can cancel the policy or discontinue paying the premium, and the policy will lapse and terminate.
You also have the option to convert the policy to a permanent life insurance product from Symetra, but they do come with a deadline.
Converting an existing Symetra term insurance plan must be elected by the policy’s 10th anniversary or your 70th birthday, whichever is earlier. Choosing to convert a term insurance policy will increase your rates to reflect the cost of permanent coverage, but the premium will be at a new fixed rate.
Conversion also does not require any evidence of insurability as it is guaranteed approval.
Is Symetra Term Life Insurance Good for People with Pre-Existing Health Conditions?
Symetra term life is a good choice for people with certain pre-existing health conditions. However, you will need to go through the traditional underwriting process and complete a medical exam with most pre-existing health conditions.
The Symetra Preferred Cancer Program provides a separate underwriting process for applicants diagnosed with certain types of cancer, including:
- Breast cancer
- Skin cancer
- Cervical cancer
- Colon cancer
- Prostate cancer
- Testicular cancer
- Thyroid cancer
After applying, the underwriter will determine whether you qualify for the Symetra Preferred Cancer Program based on information provided in your medical records. The program could allow select applicants to receive a Preferred or Standard Plus underwriting class.
Alcohol or drug abuse, bipolar disorder, COPD, emphysema, diabetes, and other common medical issues are not disqualifying conditions. These conditions should result in a higher premium, but you are unlikely to be denied.
The Symetra Preferred Cancer Program is only available on fully underwritten applications making it ineligible for SwiftTerm.
Can I Cover My Entire Family with One Symetra Term Life Insurance Policy?
Symetra Term and Symetra SwiftTerm offer an optional children’s term insurance rider. The rider allows you to add coverage for all children between the ages of 15 days and 17 years.
The benefit is paid if death occurs before the age of 23 when included with the SwiftTerm plan (age 25 for Symetra Term Life). You can get $1000 to $10,000 in coverage per qualifying child.
Symetra Term also offers an optional “Additional Term Rider” that covers an adult family member or business partner under one policy. Coverage amounts start at $100,000, and the contract length must be the same as the base policy of the primary insured.
The Additional Term Rider is not a typical policy rider found on most term insurance plans, making it one of the advantages of choosing Symetra term life if you’re looking to insure your entire family under one policy.
Children are required to take a medical exam. However, adults will be required to take a medical exam.
Symetra Term vs. Symetra SwiftTerm: Which Is Better?
Symetra SwiftTerm and Symetra Term are both great options but designed to suit different needs. Symetra Term and Symetra SwiftTerm also include many of the same options, including contract lengths with guaranteed level premiums. In addition, both options include conversion options and automatic renewals.
SwiftTerm stands out for offering some of the best prices in the industry and accelerated underwriting up to $2 million as long as you are in good health. SwiftTerm also provides three underwriting scenarios. You may qualify for instant approval or accelerated underwriting, depending on your health. A medical exam is not always required.
With Symetra Term, your application requires the full underwriting process and a medical exam. With SwiftTerm, only individuals with certain medical conditions need full underwriting.
Symetra Term also offers a few benefits, including accepting applicants up to the age of 80 instead of 60, having no limit to maximum coverage, and can be owned by a trust or business. Symetra Term also provides the optional Additional Term Rider, allowing you to add family members or business partners.
How Are Symetra Term Insurance Plans Compared to the Competition?
Both Symetra SwiftTerm and Symetra Term stack up well against the competition. Symetra Term offers competitive rates and the unique Additional Term Rider, unavailable from most other insurers. It is also a suitable option for insuring business partners.
Symetra SwiftTerm surpasses the competition when it comes to accelerated underwriting. The convenient electronic delivery method includes instant approval and speedy underwriting for qualifying candidates.
How Do You Get a Symetra Term Life Insurance Quote?
You must work with a licensed insurance professional to receive a quote and apply for coverage. Symetra term life products are available through various sources, including most independent agents and life insurance agencies.
Our company also offers Symetra term life insurance and other Symetra life insurance products. Rates can be viewed through our online quoter. We can also assist with the electronic online application process.
What Is Symetra Life Insurance Company’s Cancellation Policy?
Symetra offers a 30-day free look period. You may cancel your policy within the first 30 days to receive a full refund of the premiums. If you wait longer than 30 days, the refund only includes any unused premium. 30 days is longer than the typical cancellation period of 14 days.
How Do You Contact Symetra Customer Services?
If you have any questions or concerns related to your policy, you can contact customer service through your online Symetra account. You can also reach customer service via email or phone. The Symetra customer service department is available Monday through Friday from 9 am to 7:30 pm ET at 1-800-796-3872.
Advantages of Symetra Term Life Insurance
Symetra term life insurance includes several advantages that you may not find from other term life products:
- Instant approval for qualifying applicants
- Two separate term life products to suit different situations
- Five different permanent life insurance conversion options
- Optional riders for adding children and adult family members
Healthy individuals with no medical issues may qualify for instant approval and obtain a policy in just 25 minutes. Few other companies offer an application process with the same speed.
With two separate term life products and five different permanent life insurance conversion options, Symetra provides something for everyone. You can also add optional riders to your policy to cover family members. With Symetra Term, you can use the Additional Term Rider to add adult family members, which is not a standard option.
Disadvantages of Symetra Term Life Insurance
Symetra term life insurance products do not have any distinct disadvantages compared to other term life products. One potential issue is your pre-existing health conditions. If you have certain major medical issues, such as Alzheimer’s disease or cirrhosis of the liver, you may not receive an offer for coverage.
Symetra SwiftTerm also includes a limited age range. If you do not use nicotine products, you can only apply for a policy before the age of 60 (age of 50 for a 30-year contract). If you obtain a policy at the cutoff age, the level premium will end before you turn 80. However, the plan also includes multiple conversion options.
Conclusion: Is Symetra Term Life Insurance Worth it?
Symetra offers term life insurance options to suit almost everyone. The Symetra Term and SwiftTerm are competitively priced. SwiftTerm often includes some of the lowest prices and may provide same-day approval.
If you are beyond the age of 60, need more than $2 million in coverage, or want to add adult family members to your policy, Symetra Term may meet your needs.
If you are in good health and want a streamlined application process and affordable premiums, consider getting a quote for Symetra SwiftTerm.
The bottom line is that Symetra is a reputable company with relatively affordable term life insurance options. Yet, you should still compare options and get a quote before choosing a policy.
So, consider getting a Symetra term life insurance quote today to start comparing.
