Compass

Symetra UL-G and SUL-G Product Changes (11/1/16)

Symetra remains committed to the Guaranteed Universal Life space and our competitive position within it.
 
Along with our commitment to offering competitively priced products, we are equally committed to providing you and your clients with products that are sustainable.

As a result of the historically low interest rate environment, we will be instituting 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.
 
November 14, 2016—Symetra UL-G and Survivorship UL-G

  • Date by which 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. 
We understand this change may cause disruption and we appreciate your patience. We will continue to reevaluate our guidelines as economic conditions change.