Symetra Financial Insurance Review & Ratings (2023)

Looking for an insurance provider that offers comprehensive and affordable coverage? Look no further than Symetra Financial Insurance. With over 60 years of experience in the industry, Symetra has a solid reputation for providing high-quality insurance solutions to its customers.

In this review, we’ll dive into Symetra’s history and mission, their main products and services, the cost of those services, and the states where their services are offered. We’ll also explore the different types of discounts available to customers, as well as an overview of customer reviews, including the strengths and weaknesses of the company.

Interesting Attributes of Symetra Financial Insurance:

• Symetra Financial Insurance has been in the industry for over 60 years, providing high-quality insurance solutions to its customers.
• Symetra offers a wide range of insurance products, including life, disability, and accident insurance, as well as retirement solutions and annuities.
• The company has a strong focus on customer satisfaction, offering personalized service and support to ensure that each customer gets the coverage they need.

Symetra Financial Insurance is a leading insurance provider with over 60 years of experience in the industry. Founded in 1957, the company has a solid reputation for providing high-quality insurance solutions to individuals, families, and businesses across the United States.

Symetra offers a wide range of insurance products, including life, disability, and accident insurance, as well as retirement solutions and annuities. The company’s mission is to provide comprehensive and affordable insurance coverage to its customers, while also offering personalized service and support to ensure that each customer gets the coverage they need.

Symetra Financial Insurance History and Mission

Symetra Financial Insurance was founded in 1957 as a subsidiary of Safeco Corporation, a property and casualty insurance company. Originally known as First National Life Insurance Company of America, the company focused on providing life insurance and annuity products to individuals and businesses.

In 1960, the company changed its name to Safeco Life Insurance Company of America, and in 1986, it became known as Safeco Life Insurance Company. In 2004, Symetra became an independent company, with a focus on providing innovative insurance solutions to individuals, families, and businesses.

In 2016, the company was acquired by Sumitomo Life Insurance Company, a leading Japanese insurance company. Today, Symetra is headquartered in Bellevue, Washington, and has over 1,400 employees across the United States. Symetra’s mission is to provide comprehensive and affordable insurance coverage to individuals, families, and businesses, while also offering personalized service and support to ensure that each customer gets the coverage they need.

The company aims to be a trusted partner to its customers, providing them with the tools and resources they need to make informed decisions about their insurance coverage. Symetra also values innovation and is constantly seeking new and better ways to serve its customers and improve its products and services.

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Types of Insurance Offered by Symetra Financial

Symetra Financial Insurance offers a wide range of insurance products to individuals, families, and businesses, including:

• Life insurance: Symetra offers term life insurance, universal life insurance, and survivorship life insurance. These products provide financial protection for loved ones in the event of the policyholder’s death, and can help cover expenses such as funeral costs, outstanding debts, and living expenses.
• Annuities: Symetra offers fixed annuities, indexed annuities, and variable annuities. These products provide a guaranteed stream of income in retirement, and can help policyholders achieve their long-term financial goals.
• Disability insurance: Symetra offers individual disability income insurance, which provides financial protection in the event that a policyholder becomes unable to work due to an injury or illness. Disability insurance can help cover expenses such as mortgage payments, medical bills, and living expenses.
• Medical stop loss insurance: Symetra offers medical stop loss insurance to self-insured employers. This product provides protection against large and unexpected medical claims, and can help employers manage their healthcare costs.
• Retirement plans: Symetra offers 401(k) plans, 403(b) plans, and other retirement plans to businesses of all sizes. These plans provide employees with a tax-advantaged way to save for retirement, and can help employers attract and retain top talent.
• Employee benefits: Symetra offers a range of employee benefits products, including group life insurance, disability insurance, dental insurance, and vision insurance. These products can help employers provide competitive benefits packages to their employees, and can help employees protect their financial futures.

The Cost of Coverage With Symetra Financial Insurance

The cost of insurance coverage with Symetra Financial Insurance can vary widely depending on several factors, including the type of insurance, the amount of coverage, the policyholder’s age and health, and the state in which the policyholder lives. Here are some general pricing considerations for the different types of insurance offered by Symetra:

• Life insurance: Symetra’s term life insurance premiums are typically lower than those for universal life insurance and survivorship life insurance. The cost of coverage for term life insurance depends on the policyholder’s age, health, and the length of the policy term. Universal life insurance and survivorship life insurance policies typically have higher premiums, but also offer more flexibility and can provide more long-term value.
• Annuities: The cost of an annuity depends on the type of annuity, the age of the policyholder, and the amount of the initial investment. Fixed annuities typically have lower premiums than indexed annuities and variable annuities, but also offer lower returns. Indexed annuities and variable annuities have higher premiums but also offer the potential for higher returns.
• Disability insurance: The cost of disability insurance depends on several factors, including the policyholder’s age, occupation, and health status. Policyholders with higher-risk occupations, such as manual laborers, typically pay higher premiums than those with lower-risk occupations. Policyholders with pre-existing health conditions may also pay higher premiums or may be denied coverage altogether.
• Medical stop loss insurance : The cost of medical stop loss insurance depends on the size of the employer group, the level of coverage, and the group’s claims history. Generally, larger groups with better claims history will pay lower premiums than smaller groups with higher claims history.
• Retirement plans: The cost of retirement plans varies depending on the type of plan, the size of the employer group, and the level of service provided. Symetra offers a range of retirement plans with varying fee structures, and employers can work with the company to customize their plans to meet their specific needs.

Areas Where Symetra Financial Insurance is Offered

Symetra Financial Insurance offers insurance and retirement solutions in all 50 states in the U.S. The company has a strong national presence and is licensed to sell its products in all major states, including:

• California
• Texas
• Florida
• New York
• Illinois
• Pennsylvania
• Ohio
• Michigan
• Georgia
• North Carolina
• New Jersey
• Virginia
• Washington
• Arizona
• Massachusetts

These are just a few examples of the states where Symetra operates. The company has a broad footprint and is committed to serving customers across the country with high-quality insurance products and retirement solutions.

If you are looking for information about the states where Symetra Financial Insurance provides services, there are several options you can take to find this information:

• Visit the Symetra Financial insurance website: The first step in finding out which states Symetra Financial Insurance operates in is to visit their website. Once there, look for a section that provides information about the company’s products and services, or use the search bar to search for information about their coverage areas.
• Check the company licensing information: Insurance companies are required to be licensed in each state where they operate. You can check Symetra Financial Insurance’s licensing information with your state’s insurance department to see if they are authorized to do business in your state.
• Contact Symetra Financial insurance directly: If you are unable to find information about the states where Symetra Financial Insurance operates, you can contact the company directly. Their customer service representatives should be able to provide you with information about the states where they offer coverage.
• Use an insurance comparison website: Another option is to use an insurance comparison website. Many of these websites allow you to search for insurance providers by state, making it easy to see if Symetra Financial Insurance offers coverage in your area.

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Discounts Available From Symetra Financial Insurance

Symetra Financial Insurance offers several discounts and incentives to help customers save money on their insurance premiums. Here are some of the most common discounts available:

• Multiple policy discount: Customers who bundle multiple policies, such as auto and home insurance, with Symetra can qualify for a multi-policy discount. This can help lower overall premiums and simplify the insurance-buying process.
• Safe driver discount: Symetra offers safe driver discounts to customers who maintain a clean driving record over time. This can be an especially valuable discount for customers who are insuring high-risk drivers or multiple vehicles.
• Good student discount: Students who maintain good grades may qualify for a good student discount on their auto insurance premiums. This can be a valuable incentive for families with young drivers.
• Age-based discount: Symetra offers discounts to customers based on their age and experience level. For example, drivers over age 50 may qualify for a mature driver discount, while younger drivers may qualify for a new driver discount.
• Loyalty discount: Symetra offers loyalty discounts to customers who have been with the company for a certain period of time. This can be a valuable incentive for long-term customers who are committed to staying with Symetra for their insurance needs.
• Group discount: Symetra offers group discounts to employees of certain companies and organizations. This can be a valuable benefit for employers looking to provide valuable perks to their staff.

Customer Reviews of Symetra Financial Insurance

Symetra Financial Insurance is a life insurance company that has been providing coverage for over 60 years. They offer a range of insurance and financial products, including term life insurance, universal life insurance, and fixed annuities. Here is an overview of customer reviews of Symetra Financial Insurance:

Strengths:

• Competitive rates: Customers appreciate the competitive rates offered by Symetra Financial Insurance. Many customers have reported that they were able to get affordable coverage that fit their budget.
• Responsive customer service: Symetra Financial Insurance has a reputation for providing responsive customer service. Customers have reported that representatives are knowledgeable, helpful, and easy to work with.
• Ethical business practices: Customers appreciate the transparency and ethical business practices of Symetra Financial Insurance. Many customers feel that they can trust the company and that their policies are fair and straightforward.

Weaknesses:

• Limited online tools: Some customers have reported that Symetra Financial Insurance’s online tools are limited, which can make it difficult to manage policies and make changes.
• Long approval process: Some customers have reported that the approval process for policies can be lengthy, which can be frustrating for those who need coverage quickly.
• Limited policy options: Symetra Financial Insurance offers a range of different policy options, but some customers have reported that they would like to see more options available.

Overall: Symetra Financial Insurance

Symetra Financial Insurance is a reputable life insurance company that has been in business for over 60 years. They offer a range of insurance and financial products, including term life insurance, universal life insurance, and fixed annuities.

Customers appreciate the competitive rates, responsive customer service, and ethical business practices of Symetra Financial Insurance. While there are some limitations to the company’s online tools and policy options, customers generally feel that Symetra Financial Insurance is a reliable and trustworthy option for life insurance coverage.

To find out which states Symetra Financial Insurance operates in, customers can visit the company’s website, check their licensing information, contact the company directly, or use an insurance comparison website. It’s always a good idea to compare multiple providers before deciding on life insurance coverage.