Symetra - Discontinuation of GUL Product Sales
Symetra has long held to their guiding principles of Value, Transparency and Sustainability (VTS). Due to the continued and prolonged low interest rate environment and competitive landscape, Symetra has decided to discontinue sales of their guaranteed universal life insurance products, which include the currently sold Symetra UL-G and the previously suspended Symetra Survivorship UL-G.
Important transition rules
Dec. 31, 2020
- All formal Symetra UL-G applications must be received at Symetra’s home office in good order (fully completed, signed and dated) to secure the product.
- Symetra UL-G will be removed from Symetra Life Illustrator and all other systems where the product is illustrated
Jan. 29, 2021
- Cases must be issued/paid. For 1035 exchange cases, the deadline will be extended if the only outstanding requirement is the receipt of 1035 funds.
Symetra remains committed to the life insurance space and to offering strong and valuable product solutions to your clients, including Symetra Protector and Accumulator Indexed Universal Life and Symetra Term Life.
Please let us know if you have any questions.