Is Symetra a Good Insurance Company?
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Is Symetra a good insurance company? At Diversified Insurance Brokers, we work with more than 100 top-rated carriers to help retirees, pre-retirees, and families secure the right annuity and insurance solutions. Symetra Life Insurance Company, founded in 1957 and headquartered in Bellevue, Washington, has built a strong reputation for financial stability, competitive rates, and customer-focused product design. Known for its diverse portfolio of fixed indexed annuities, multi-year guaranteed annuities, and life insurance products, Symetra is a well-respected choice for those seeking reliable protection and guaranteed income solutions.
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About Symetra
Symetra is a subsidiary of Sumitomo Life, one of Japan’s largest life insurers, which provides significant financial backing and stability. With more than 60 years in the industry, Symetra is known for delivering innovative annuity and life insurance products that meet the evolving needs of clients nationwide. They are especially recognized for their strong fixed indexed annuities and MYGA offerings, which appeal to retirees seeking growth potential with principal protection.
Popular Symetra Products
- Fixed Indexed Annuities (FIAs): Offer market-linked growth potential with no risk of losing principal.
- Multi-Year Guaranteed Annuities (MYGAs): Lock in competitive interest rates for a set term.
- Income Annuities: Turn savings into predictable, guaranteed lifetime income.</
FAQs: Is Symetra a Good Insurance Company?
What are Symetra’s financial strength ratings?
Symetra Life has an A (Excellent) rating from AM Best for its financial strength, and a “Strong (A)” rating from Standard & Poor’s. These affirm its ability to meet policyholder obligations and its stability.
How many customer complaints does Symetra have?
Symetra has relatively few complaints. For example, the Better Business Bureau shows about 16 complaints over the past three years, many of which have been answered or resolved.
What life/insurance products does Symetra offer?
Symetra offers a broad product line including term life insurance (such as SwiftTerm, which in some cases is no-exam), permanent life (whole/universal), indexed universal life, annuities, group life, and employee benefits.
What are some strengths of choosing Symetra?
Strengths include its strong financial backing via Sumitomo Life, innovative riders (e.g. cancer care enhancements), relatively fast underwriting in some products, good complaint index vs peers, and its long-standing reputation.
What are the drawbacks or things to watch out for?
Some drawbacks: policies may have state-based limitations; claim denials can occur under standard exclusions; customer experience in some reviews indicates occasional delays in servicing; digital tools and transparency may be less advanced than some competitors.
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About the Author:
Jason Stolz, CLTC, CRPC, is a senior insurance and retirement professional with more than two decades of real-world experience helping individuals, families, and business owners protect their income, assets, and long-term financial stability. As a long-time partner of the nationally licensed independent agency Diversified Insurance Brokers, Jason provides trusted guidance across multiple specialties—including fixed and indexed annuities, long-term care planning, personal and business disability insurance, life insurance solutions, and short-term health coverage. Diversified Insurance Brokers maintains active contracts with over 100 highly rated insurance carriers, ensuring clients have access to a broad and competitive marketplace.
His practical, education-first approach has earned recognition in publications such as VoyageATL, highlighting his commitment to financial clarity and client-focused planning. Drawing on deep product knowledge and years of hands-on field experience, Jason helps clients evaluate carriers, compare strategies, and build retirement and protection plans that are both secure and cost-efficient.
