Symetra Life Insurance Company Annuity Review (2026)

Symetra Life Insurance Company holds an A (Excellent) rating from AM Best and is backed by Sumitomo Life Insurance Group, one of Japan’s largest life insurers and one of the most financially stable institutions in global insurance. Based in Bellevue, Washington, Symetra has grown into one of the most competitive MYGA carriers in the independent agent channel, frequently appearing at or near the top of multi-year guaranteed annuity rate comparisons.

This review covers Symetra’s financial strength, annuity product lineup, and contact information.

Symetra at a Glance

Symetra’s Financial Strength

Symetra holds an A (Excellent) from AM Best and an A from S&P, reflecting solid financial fundamentals across its diversified book of business. The company was acquired by Sumitomo Life Insurance in 2016, providing institutional backing from one of Japan’s most financially conservative and long-tenured insurance organizations.

With $60+ billion in total assets and more than 65 years of operating history under its current structure (originally founded as Safeco Life Insurance in 1957), Symetra has the scale to compete with much larger carriers on pricing without compromising its reserve requirements. Its Washington state domicile subjects it to regulation by the Office of the Insurance Commissioner, a well-regarded regulatory body with rigorous solvency standards.

What Types of Annuities Does Symetra Offer?

• Multi-Year Guaranteed Annuities (MYGAs), Accumulator Select Series: Symetra’s Accumulator Select MYGA series is one of the most actively quoted products in the independent agent channel. Available in multiple terms, it delivers competitive guaranteed rates with straightforward contract terms. This is Symetra’s strongest competitive position in the retail annuity market.
• Fixed Index Annuities (FIAs), Symetra Edge Pro: The Edge Pro FIA offers index-linked growth with multiple crediting strategies including S&P 500 point-to-point with a cap and a declared-rate fixed account. Optional income riders allow for guaranteed lifetime withdrawal benefits in retirement.
• Single Premium Immediate Annuities (SPIAs) and Deferred Income Annuities (DIAs): Symetra offers both immediate and deferred income annuities for buyers converting savings into guaranteed lifetime income. Their income products are available for both single and joint lives.

Symetra MYGA Rates

Current Symetra MYGA rates from our live rate feed:

Who Is Symetra Best For?

• MYGA buyers seeking competitive A-rated rates: Symetra’s Accumulator Select consistently ranks in the top tier of A-rated MYGA comparisons. Buyers who want a balance of rate and financial strength will find Symetra a compelling option.
• FIA buyers who want a straightforward product structure: The Symetra Edge Pro is designed for clarity, fewer complex crediting strategies than some competitors, with solid index participation and a reliable income rider option.
• Income annuity buyers: Symetra’s SPIA and DIA products are competitive for clients converting retirement savings into guaranteed income. The A rating and Sumitomo institutional backing matter here, income annuities are multi-decade commitments.
• Nationwide buyers: Symetra’s availability in all 50 states means no state availability restrictions when recommending to clients in any market.

Symetra Pros and Cons

Here is a balanced look at Symetra’s strengths and limitations for annuity buyers:

Pros

• Solid financial strength with an A-range AM Best rating
• Offers MYGA products with guaranteed rates and predictable returns
• Offers fixed index annuities with growth potential tied to market indexes and downside protection
• Available through independent agents, allowing side-by-side comparisons with other carriers

Cons

• Not the highest-rated carrier available, so buyers should weigh the rate vs. rating trade-off
• Product availability varies by state, so not all products may be offered where you live
• Surrender charges apply during the contract term, which limits liquidity

Frequently Asked Questions About Symetra

Is Symetra a safe company for annuities?

Symetra holds an A-range AM Best rating (A (Excellent)), which indicates a strong ability to meet ongoing policyholder obligations. In addition, annuity contracts are backed by your state guaranty association, which provides a secondary layer of protection typically covering $250,000 per contract. Always verify both the current rating and your state’s coverage limits.

What types of annuities does Symetra offer?

Symetra offers MYGAs, fixed index annuities, immediate annuities through independent agents and financial professionals. Product availability, rates, and features vary by state. Use our rate comparison tool to see what’s currently available from Symetra and competing carriers.

How do I buy an annuity from Symetra?

Symetra annuities are sold through licensed insurance agents and financial advisors. My Annuity Store is an independent platform that can quote Symetra alongside 20+ other carriers so you can compare rates, terms, and financial strength ratings in one place. Request a free quote or call 855-583-1104 to get started.

Contact Symetra

Compare Symetra Against Other Carriers: My Annuity Store compares Symetra alongside Athene, MassMutual, Midland National, and 20+ other top-rated carriers. Get a free comparison quote or call 855-583-1104.