Select Pro
Symetra Life Insurance Company
5.15%
5-yr guarantee
15%
Free W/D
50
Jurisdictions
Live product data
Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.
5-year guaranteed rate
5.15% guaranteed for 5 years
A multi-year guaranteed annuity from a multi-agency-rated carrier with 3-, 5-, and 7-year guaranteed terms across multiple premium bands, an annual free-withdrawal allowance at the top end of the MYGA market, a seven-year declining surrender ladder, and RMD/nursing-home/terminal-illness waivers. Available outside New York; Symetra files a separate Select Pro NY contract for New York buyers.
Best fit
Buyers outside New York who want a single declared rate locked in for a fixed multi-year window from a multi-agency-rated carrier, place real value on a market-leading annual free-withdrawal allowance and a contractual RMD waiver alongside it, and are comfortable confirming the rate-by-premium-band before committing.
AM Best
A Excellent
Surrender period
7 years
Free withdrawal
15%/yr
Availability
50 jurisdictions (excl. New York)
Product analyst notes
How to think about this contract
Why it can stand out
- Annual free-withdrawal allowance on this filing is materially higher than the MYGA market norm — penalty-free access at the top end of the MYGA market gives buyers a structurally larger annual liquidity envelope than a typical MYGA free-withdrawal allowance.
- Multi-agency carrier financial-strength view — both A.M. Best and Standard & Poor's publish current ratings on this filing, so the carrier-credit read is triangulated rather than single-sourced. Unusual among regional and B-band MYGA issuers; common among the largest national carriers.
- Contract publishes a contractual RMD waiver alongside the standard annual free-withdrawal allowance, so required-minimum-distribution withdrawals on qualified money do not trigger a surrender charge — combined with nursing-home and terminal-illness waivers, the liquidity envelope is materially above a typical regional-MYGA contract.
- Seven-year declining surrender ladder that steps down by a full percentage point per year, so partial surrenders beyond the annual free-withdrawal allowance get progressively cheaper as the contract ages.
- Multiple premium bands published on the live feed across the 3-/5-/7-year terms — the lead 5-year rate steps down from the highest band to lower bands, so larger premium commitments earn a structurally higher published rate than smaller ones.
- Single and joint annuitization options are both available, and the contract accepts both non-qualified and qualified funds — so couples planning a joint-life payout and IRA money are both inside the product's accepted-funds and payout-options envelope.
What to confirm
- This filing is not available in New York — buyers in NY need to look at Symetra's separately-filed NY MYGA (Select Pro NY) rather than this contract. Both products carry the 'Select Pro' marketing name; confirm which one is licensed for the buyer's state before treating either as an option.
- Surrender charges in years one through three of the schedule are in the high single digits, so an unplanned early exit beyond the high annual free-withdrawal allowance in the first three years still carries a real cost. The high free-withdrawal band makes small partial surrenders cheaper, not a full early exit.
- Published rate steps DOWN as premium band decreases — buyers placing a smaller initial premium will see a lower lead-5-year rate than the headline rate at the largest band. Confirm the rate for the intended premium amount before treating the top-band rate as the buyer's actual lock-in.
- The death benefit on this filing is described as depending on contract terms, withdrawals, and rider elections rather than a guaranteed roll-up or step-up beyond the contract value, there is no premium bonus, and there is no guaranteed-lifetime-withdrawal rider — this contract is built for rate certainty over a fixed multi-year window, not for legacy enhancement, an upfront bonus, or guaranteed lifetime income.
Not ideal for
Buyers in New York (use the Select Pro NY filing instead), buyers placing a small premium where the band-driven step-down materially compresses the lead rate, buyers who need a shorter-than-3-year or longer-than-7-year fixed-rate horizon, or buyers who want a premium bonus, a guaranteed-lifetime-withdrawal rider, market-linked upside through index crediting, or a death benefit with a guaranteed roll-up or step-up — a fixed-rate deferred contract is not built for any of those things.
Guaranteed Rates by Term
| Term | Guaranteed Rate |
|---|---|
| 3-Year | 4.85% |
| 5-Year | 5.15% |
| 7-Year | 5.15% |
Key Features
Free withdrawal
15%/yrAnnual amount that may be available without surrender charges, subject to contract terms.
Surrender waivers
3Nursing home waiver, RMD waiver, Terminal illness waiver
Death benefit
Standard Death BenefitBeneficiary value depends on contract terms, withdrawals, and rider elections.
Annuitization options
Single and jointContract conversion options should be confirmed before purchase.
Fund types
Non-qualified, QualifiedAvailability can vary by state and product terms.
Surrender Schedule
Yr 1
8%
Yr 2
8%
Yr 3
7%
Yr 4
6%
Yr 5
5%
Yr 6
4%
Yr 7
3%
After
0%
Nursing home waiver, RMD waiver, Terminal illness waiver, Surrender waivers
Carrier Ratings
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