Select Pro NY
Symetra Life Insurance Company
4.15%
5-yr guarantee
15%
Free W/D
New York
Only state
Live product data
Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.
5-year guaranteed rate
4.15% guaranteed for 5 years
The New York-licensed state-variant filing of Symetra Select Pro — 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 that is gentler than the non-NY sibling, and RMD/nursing-home/terminal-illness waivers.
Best fit
New York-resident buyers who want a single declared rate locked in for a fixed multi-year window from a multi-agency-rated carrier under NY's stricter regulatory regime, place real value on a market-leading annual free-withdrawal allowance and a contractual RMD waiver, and accept that the headline rate will publish below the non-NY equivalent because of New York's insurance code.
AM Best
A Excellent
Surrender period
7 years
Free withdrawal
15%/yr
Availability
New York only
Product analyst notes
How to think about this contract
Why it can stand out
- This is the New York-licensed sibling of Symetra Select Pro. New York's insurance code applies stricter reserve and disclosure requirements than every other US state, so an NY-licensed MYGA from a national multi-agency-rated carrier is a structurally narrower buyer choice set than the broader US MYGA market — and Symetra files Select Pro NY into that set rather than relying on the non-NY contract.
- 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.
- Surrender ladder on the NY filing steps down by one full percentage point every year from the year-one charge through year seven — a gentler back-half schedule than the non-NY Select Pro contract, consistent with New York's tighter surrender-charge regulation.
- 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 the NY-licensed MYGA set.
- Contractual RMD waiver alongside the standard annual free-withdrawal allowance, plus nursing-home and terminal-illness waivers, so required-minimum-distribution withdrawals on qualified money do not trigger a surrender charge.
- Single and joint annuitization options are both available, and the contract accepts both non-qualified and qualified funds.
What to confirm
- This filing is licensed only in New York. Buyers outside NY cannot purchase this contract and should look at the non-NY Symetra Select Pro filing instead. The two products share the 'Select Pro' marketing name; confirm which one is licensed for the buyer's state of residence before treating either as an option.
- The 5-year lead rate on the NY filing publishes below the corresponding 5-year on the non-NY Select Pro contract — that rate gap is a structural feature of NY-licensed MYGAs (NY's stricter reserve and disclosure rules narrow what carriers can publish), not a quality difference between the two filings. Buyers comparing this contract against the non-NY Symetra Select Pro across state lines should expect the NY rate to read lower for the same carrier.
- Surrender charges in the first three years are in the high single digits, so an unplanned early exit beyond the high annual free-withdrawal allowance in years one through three 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 depends 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 outside New York (use the non-NY Select Pro filing instead — the published lead rate is higher there for the same carrier), 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.
Guaranteed Rates by Term
| Term | Guaranteed Rate |
|---|---|
| 3-Year | 3.85% |
| 5-Year | 4.15% |
| 7-Year | 4.15% |
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
7%
Yr 3
6%
Yr 4
5%
Yr 5
4%
Yr 6
3%
Yr 7
2%
After
0%
Nursing home waiver, RMD waiver, Terminal illness waiver, Surrender waivers
Carrier Ratings
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