04/29/2024 | Press release | Distributed by Public on 04/29/2024 13:08
UPDATED INFORMATION ABOUT YOUR CONTRACT |
Old Name | New Name |
American Century VP Mid Cap Value Fund Class I | LVIP American Century Mid Cap Value Fund Standard Class II |
American Century VP Value Fund Class I | LVIP American Century Value Fund Standard Class II |
KEY INFORMATION |
FEES AND EXPENSES | ||
Charges for Early Withdrawals |
There is no charge for early withdrawal.
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Transaction Charges | A Transfer Charge of $25 will apply upon each transfer in excess of 25 transfers in a Contract Year. | |
Ongoing Fees and Expenses (annual charges)
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The table below describes the fees and expenses that you may pay each year, depending on the options you choose. Please refer to your Contract data page for information about the specific fees you will pay each year based on the options you have elected.
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Annual Fee | Minimum | Maximum |
Base Contract (1)
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0.72% | 2.73% |
Investment options (Portfolio fees and expenses) (2) | 0.12% | 2.13% |
Optional Benefits available for an additional charge | $0.92 (3) | $524.34 (4) |
(1)Base Contract fees are expressed as a percentage of Separate Account assets, and include mortality and expense risk fees, which are charged as a percentage of Contract Value, and the annual Contract fee, which is a fixed dollar amount
(2)Portfolio fees and expenses are expressed as a percentage of the Portfolio's net asset value and include management fees, distribution and/or service 12b-1 fees, and other expenses (before any waivers or expense reimbursement).
(3)The charge shown is on an annual basis per $1,000 of WTB Additional Benefit and is based on a 35 year old female.
(4)The charge shown is on an annual basis per $1,000 of WTB Additional Benefit and is based on joint owners, the oldest of whom is age 95, based on unisex rates.
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Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the Contract, which could add charges that substantially increase costs.
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Lowest Annual Cost
$692.14
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Highest Annual Cost
$3,243.77
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The Lowest Annual Cost shown above assumes the following:
•Investment of $100,000
•5% annual appreciation
•Least expensive combination of Contract Classes & Portfolio Company fees & expenses
•No optional benefits are selected
•No sales charges
•No additional purchase payments, transfers or withdrawals
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The Highest Annual Cost shown above assumes the following:
•Investment of $100,000
•5% annual appreciation
•Most expensive combination of Contract Classes, Portfolio Company fees & expenses and optional benefits
•No sales charges
•No additional purchase payments, transfers or withdrawals
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RISKS | |
Risk of Loss |
You may lose money by investing in the Contract.
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Not a Short-Term Investment |
The Contract is not a short-term investment and is not appropriate if you need ready access to cash. Withdrawal charges will reduce the value of your Contract if you withdraw money during the Accumulation Phase. The benefits of tax deferral and living benefit protections also mean the Contract is more beneficial to investors with a long time horizon. Tax penalties may apply to withdrawals taken before age 59 ½. Transfer limits and fees designed to deter marketing timing may apply under policies designed to deter frequent trading and market timing.
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RISKS | |
Risks Associated with Investment Options |
Investment in the Contract is subject to the risk of poor investment performance and can vary depending on the performance of the Portfolios available under the Contract. Each Portfolio has its own unique risks. You should review these Portfolios before making an investment decision.
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Insurance Company Risks |
Investment in the Contract is subject to the risks related to Symetra Life Insurance Company. Any obligations, including obligations related to the Symetra Fixed Account, guarantees, and benefits provided for under the Contract are subject to our financial strength and claims-paying ability. More information about us, including our financial strength ratings, is available upon request by calling 1-800-796-3872, or visiting us at www.symetra.com/regulatoryreports
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RESTRICTIONS | |
Investments |
You may allocate amounts under the Contract to one or more of the Sub-accounts available to you and to the Symetra Fixed Account. Certain Sub-accounts are closed to new investors and only available to Contract Owners who have been continuously invested in them as of a certain date. Once a Contract Owner has transferred the entire value out of one of these closed Sub-accounts, the Sub-account is no longer available to the Contract Owner for investment. We reserve the right to add, combine, restrict or remove any Sub-account available as an investment option under your Contract. We further reserve the right to restrict or remove the Symetra Fixed Account as an investment option available under the Contract.
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Optional Benefits |
Wealth Transfer Benefit Rider "WTB" Rider. If available in your state, you may have elected the WTB Rider at the time you purchased your Contract. Withdrawals will reduce the WTB Additional Benefit and may significantly reduce or eliminate the value of the WTB rider.
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TAXES | |
Tax Implications |
You should consult a competent tax professional about your individual circumstances to determine the tax implications of an investment in and purchase payments received under the Contract. There is no additional tax benefit if you purchased the Contract through a tax-qualified plan or individual retirement account (IRA). Access to amounts held in a qualified Contract may be restricted or prohibited.
All distributions other than death benefits, including surrenders, withdrawals and loans taken or secured by the Contract will be subject to ordinary income tax, and may be subject to tax penalties.
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CONFLICTS OF INTEREST | |
Investment Professional Compensation |
Investment professionals who solicited sales of the Contracts receive a portion of the commission payable to the broker-dealer firm, depending on the agreement between the broker-dealer and the investment professional. We pay commissions as a percentage of Purchase Payments invested in the Contract.
An investment professional may receive different compensation for selling different investment products and may have a financial incentive to offer or recommend one investment product over another.
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Exchanges |
An investment professional may have a financial incentive to offer you a new contract in the place of a contract you already own.
You should not exchange this Contract for a new one unless you determine, after comparing the features fees and risks of both contracts, that the exchange is preferable for you.
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APPENDIX: PORTFOLIOS AVAILABLE UNDER THE CONTRACT |
TYPE | PORTFOLIO NAME AND ADVISOR |
CURRENT EXPENSES
(As of 12/31/2023)
|
AVERAGE ANNUAL TOTAL RETURN
(As of 12/31/2023)
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1 Year | 5 Year | 10 Year | |||
U.S. Equity |
AB Discovery Value Portfolio - Class A
AllianceBernstein L.P.
|
0.81% | 17.18% | 10.78% | 7.55% |
Sector Equity |
ALPS/Alerian Energy Infrastructure Portfolio: Class I
ALPS Advisors, Inc.
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0.95%** | 14.25% | 11.05% | 3.08% |
U.S. Equity |
American Funds IS® Growth-Income - Class 1
Capital Research and Management Company
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0.28% | 26.47% | 13.65% | 11.19% |
U.S. Equity |
American Funds IS® Growth Fund - Class 1
Capital Research and Management Company
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0.34% | 38.81% | 18.97% | 14.64% |
International Equity |
American Funds IS® International Fund -Class 1
Capital Research and Management Company
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0.53% | 16.12% | 5.10% | 3.67% |
International Equity |
American Funds IS® New World Fund - Class 1
Capital Research and Management Company
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0.57%** | 16.22% | 8.90% | 4.95% |
U.S. Equity |
BlackRock Capital Appreciation V.I. Fund (Class I)
BlackRock Advisors, LLC
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0.79%** | 49.64% | 16.07% | 12.96% |
Asset Allocation |
BlackRock Global Allocation V.I. Fund (Class I)
BlackRock Advisors, LLC Sub-Advised by BlackRock International Limited
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0.76%** | 12.83% | 7.65% | 4.88% |
Taxable Bond |
BlackRock High Yield V.I. Fund (Class I)
BlackRock Advisors, LLC
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0.56%** | 13.21% | 5.74% | 4.46% |
Taxable Bond |
Columbia VP Income Opportunities Fund - Class 1
Columbia Management Investment Advisors, LLC
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0.64%** | 11.56% | 5.29% | 4.25% |
International Equity |
Columbia VP Overseas Core Fund - Class 1
Columbia Management Investment Advisors, LLC
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0.79% | 6.23% | 6.02% | 4.18% |
U.S. Equity |
Columbia VP Select Mid Cap Growth Fund - Class 1
Columbia Management Investment Advisors, LLC
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0.82%** | 16.16% | 11.15% | 9.87% |
International Equity |
Macquarie VIP Emerging Markets Series, Standard Class
Delaware Management Company
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1.18% | 13.79% | 4.19% | 2.67% |
U.S. Equity |
Macquarie VIP Small Cap Value Series, Standard Class
Delaware Management Company
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0.78% | 9.44% | 10.20% | 7.06% |
Taxable Bond |
DFA VA Global Bond Portfolio
Dimensional Fund Advisors, LP
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0.21% | 5.05% | 0.58% | 1.29% |
International Equity |
DFA VA International Small Portfolio
Dimensional Fund Advisors, LP
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0.40% | 14.11% | 7.86% | 4.89% |
International Equity |
DFA VA International Value Portfolio
Dimensional Fund Advisors, LP
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0.27% | 17.86% | 8.87% | 4.16% |
Taxable Bond |
DFA VA Short-Term Fixed Portfolio
Dimensional Fund Advisors, LP
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0.12% | 4.98% | 1.33% | 1.05% |
U.S. Equity |
DFA VA U.S. Large Value Portfolio
Dimensional Fund Advisors, LP
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0.21% | 10.92% | 10.71% | 8.10% |
U.S. Equity |
DFA VA U.S. Targeted Value Portfolio
Dimensional Fund Advisors, LP
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0.29% | 20.03% | 15.40% | 9.00% |
Alternative |
DWS Alternative Asset Allocation VIP - Class A
DWS Investment Management Americas, Inc.
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0.83% | 6.18% | 6.08% | 2.96% |
TYPE | PORTFOLIO NAME AND ADVISOR |
CURRENT EXPENSES
(As of 12/31/2023)
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AVERAGE ANNUAL TOTAL RETURN
(As of 12/31/2023)
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1 Year | 5 Year | 10 Year | |||
Taxable Bond |
Eaton Vance VT Floating-Rate Income Fund - ADV Class
Eaton Vance Management
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0.92% | 11.48% | 4.41% | 3.48% |
U.S. Equity |
Fidelity® VIP ContrafundSM Portfolio - Initial Class
Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. FMR UK, FMR HK and FMR Japan serve as sub-advisers for the fund. (*)
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0.56% | 33.45% | 16.65% | 11.61% |
Sector Equity |
Fidelity® VIP Energy Portfolio - Initial Class (2)(3)
Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. FMR UK, FMR HK and FMR Japan serve as sub-advisers for the fund. (*)
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0.61% | 0.98% | 13.63% | 2.62% |
Sector Equity |
Fidelity® VIP Financials Portfolio - Initial Class (2)(3)
Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. FMR UK, FMR HK and FMR Japan serve as sub-advisers for the fund. (*)
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0.63% | 14.73% | 13.65% | 9.40% |
Money Market |
Fidelity® VIP Government Money Market Portfolio - Initial Class
Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. FMR UK, FMR HK and FMR Japan serve as sub-advisers for the fund. (*)
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0.27% | 4.89% | 1.72% | 1.11% |
Taxable Bond |
Fidelity® VIP Investment Grade Bond Portfolio - Initial Class
Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. FMR UK, FMR HK and FMR Japan serve as sub-advisers for the fund. (*)
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0.38% | 6.20% | 1.97% | 2.33% |
U.S. Equity |
Fidelity® VIP Mid Cap Portfolio - Initial Class
Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. FMR UK, FMR HK and FMR Japan serve as sub-advisers for the fund. (*)
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0.57% | 15.08% | 12.45% | 8.12% |
Sector Equity |
Fidelity® VIP Real Estate Portfolio - Initial Class Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. FMR UK, FMR HK and FMR Japan serve as sub-advisers for the fund. (*) |
0.60% | 11.19% | 5.22% | 6.04% |
Taxable Bond |
Fidelity® VIP Strategic Income Portfolio - Initial Class Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. FMR UK, FMR HK, FMR Japan, FIA and FIA(UK) serve as sub-advisers for the fund. (*) |
0.65% | 9.41% | 3.73% | 3.36% |
Asset Allocation |
Franklin Income VIP Fund - Class 1
Franklin Advisers, Inc.
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0.46%** | 8.87% | 7.25% | 5.28% |
International Equity |
Franklin Mutual Global Discovery VIP Fund - Class 1
Franklin Mutual Advisers, LLC
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0.90% | 20.55% | 10.43% | 6.24% |
Asset Allocation |
Franklin Mutual Shares VIP Fund - Class 1
Franklin Mutual Advisers, LLC
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0.68% | 13.73% | 8.10% | 5.70% |
U.S. Equity |
Franklin Rising Dividends VIP Fund - Class 1
Franklin Advisers, Inc.
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0.65%** | 12.39% | 14.04% | 10.51% |
Taxable Bond |
Franklin Strategic Income VIP Fund - Class 1
Franklin Advisers, Inc.
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0.84%** | 8.37% | 2.23% | 2.02% |
Taxable Bond |
Franklin U.S. Government Securities VIP Fund - Class 1
Franklin Advisers, Inc.
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0.52% | 4.76% | 0.47% | 0.98% |
International Equity |
Invesco V.I. EQV International Equity Fund - Series I
Invesco Advisers, Inc.
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0.90% | 17.86% | 8.15% | 4.07% |
Sector Equity |
Invesco V.I. Global Real Estate Fund - Series I
Invesco Advisers, Inc. Sub-advised by Invesco Asset Management Limited
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1.02% | 9.05% | 2.11% | 3.10% |
U.S. Equity |
Janus Henderson Enterprise Portfolio - Institutional Shares
Janus Henderson Investors US LLC
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0.72% | 18.07% | 13.42% | 12.10% |
Taxable Bond |
Janus Henderson Flexible Bond Portfolio - Institutional Shares
Janus Henderson Investors US LLC
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0.57%** | 5.50% | 1.79% | 1.91% |
U.S. Equity |
Janus Henderson Mid Cap Value Portfolio - Institutional Shares
Janus Henderson Investors US LLC
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0.68%** | 11.40% | 10.22% | 7.18% |
U.S. Equity |
LVIP American Century Mid Cap Value Fund Standard Class II (1)
American Century Investment Management, Inc.
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0.86%** | 6.03% | 10.90% | 8.61% |
U.S. Equity |
LVIP American Century Value Fund Standard Class II
American Century Investment Management, Inc.
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0.71%** | 9.02% | 11.71% | 8.36% |
U.S. Equity |
LVIP Macquarie SMID Cap Core Fund, Standard Class
Lincoln Investment Advisors Corporation
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0.8%** | 16.45% | 12.25% | 8.36% |
TYPE | PORTFOLIO NAME AND ADVISOR |
CURRENT EXPENSES
(As of 12/31/2023)
|
AVERAGE ANNUAL TOTAL RETURN
(As of 12/31/2023)
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1 Year | 5 Year | 10 Year | |||
U.S. Equity |
LVIP JPMorgan Mid Cap Value Fund - Standard Class
Lincoln Investment Advisors Corporation Sub-advised by J.P. Morgan Investment Management Inc.
|
0.74% | 10.91% | 10.98% | 8.05% |
U.S. Equity |
MFS® New Discovery Series - Initial Class
Massachusetts Financial Services Company
|
0.87%** | 14.41% | 11.08% | 7.67% |
U.S. Equity |
MFS® Growth Series - Initial Class
Massachusetts Financial Services Company
|
0.73%** | 35.86% | 15.89% | 12.97% |
International Equity |
MFS® International Growth Portfolio - Initial Class
Massachusetts Financial Services Company
|
0.88%** | 14.72% | 9.47% | 6.36% |
International Equity |
MFS® International Intrinsic Value Portfolio- Initial Class
Massachusetts Financial Services Company
|
0.89%** | 17.66% | 8.58% | 6.92% |
Sector Equity |
MFS® Utilities Series - Initial Class
Massachusetts Financial Services Company
|
0.79%** | (2.11)% | 8.31% | 6.39% |
Asset Allocation |
PIMCO All Asset Portfolio - Institutional Class
Pacific Investment Management Company LLC
|
2.035%** | 8.28% | 6.16% | 4.19% |
Commodities |
PIMCO CommodityRealReturn® Strategy Portfolio - Institutional Class
Pacific Investment Management Company LLC
|
1.33%** | (7.74)% | 8.70% | (0.67)% |
Taxable Bond |
PIMCO Dynamic Bond Portfolio - Institutional Class
Pacific Investment Management Company LLC
|
0.89% | 7.26% | 2.39% | 2.47% |
Taxable Bond |
PIMCO Emerging Markets Bond Portfolio - Institutional Class
Pacific Investment Management Company LLC
|
1.12% | 11.28% | 2.40% | 2.93% |
Taxable Bond |
PIMCO Global Bond Opportunities Portfolio (Unhedged) - Institutional Class
Pacific Investment Management Company LLC
|
0.86% | 5.42% | 1.12% | 1.24% |
Taxable Bond |
PIMCO Low Duration Portfolio - Institutional Class
Pacific Investment Management Company LLC
|
0.54% | 5.13% | 1.14% | 1.07% |
Taxable Bond |
PIMCO Real Return Portfolio - Institutional Class
Pacific Investment Management Company LLC
|
0.69% | 3.83% | 3.31% | 2.40% |
International Equity |
PIMCO StocksPLUS® Global Portfolio - Institutional Class
Pacific Investment Management Company LLC
|
0.66%** | 23.03% | 11.69% | 6.69% |
Taxable Bond |
PIMCO Total Return Portfolio - Institutional Class Shares
Pacific Investment Management Company LLC
|
0.60% | 6.09% | 1.23% | 1.86% |
Taxable Bond |
Pioneer Strategic Income VCT Portfolio - Class I Shares
Amundi Asset Management US, Inc.
|
0.81%** | 7.95% | 2.72% | 2.66% |
U.S. Equity |
Royce Capital Fund Micro-Cap Portfolio - Investment Class
Royce & Associates LP
|
1.18% | 18.78% | 12.13% | 5.53% |
U.S. Equity |
Royce Capital Fund Small-Cap Portfolio - Investment Class
Royce & Associates LP
|
1.15% | 25.93% | 10.17% | 5.61% |
U.S. Equity |
T. Rowe Price All-Cap Opportunities Portfolio
T. Rowe Price Associates, Inc.
|
0.80%** | 28.96% | 18.96% | 14.57% |
U.S. Equity |
T. Rowe Price Blue Chip Growth Portfolio
T. Rowe Price Associates, Inc.
|
0.75%** | 49.29% | 13.50% | 12.31% |
U.S. Equity |
T. Rowe Price Equity Income Portfolio
T. Rowe Price Associates, Inc.
|
0.74% | 9.54% | 11.20% | 7.84% |
Sector Equity |
T. Rowe Price Health Sciences Portfolio
T. Rowe Price Associates, Inc.
|
0.86% | 2.96% | 11.24% | 11.30% |
International Equity |
T. Rowe Price International Stock Portfolio
T. Rowe Price Associates, Inc. Sub-advised by T. Rowe Price International Ltd and T. Rowe Price Singapore Private Ltd.
|
0.95% | 16.24% | 7.71% | 4.75% |
Taxable Bond |
Templeton Global Bond VIP Fund - Class 1
Franklin Advisers, Inc.
|
0.50%** | 3.19% | (1.89)% | (0.41)% |
Alternative |
The Merger Fund VL
Virtus Investment Advisers, Inc. Sub-advised by Westchester Capital Management, LLC
|
1.52%** | 4.34% | 3.94% | 3.21% |
U.S. Equity |
Touchstone Common Stock Fund
Touchstone Advisors, Inc.
|
0.73%** | 26.66% | 16.22% | 11.29% |
Sector Equity |
VanEck VIP Global Resources Fund - Initial Class
Van Eck Associates Corporation
|
1.12% | (3.58)% | 10.61% | (1.01)% |
TYPE | PORTFOLIO NAME AND ADVISOR |
CURRENT EXPENSES
(As of 12/31/2023)
|
AVERAGE ANNUAL TOTAL RETURN
(As of 12/31/2023)
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1 Year | 5 Year | 10 Year | |||
Asset Allocation |
Vanguard VIF - Balanced Portfolio
Wellington Management Company, LLP
|
0.21% | 14.33% | 9.59% | 7.89% |
U.S. Equity |
Vanguard VIF - Capital Growth Portfolio
PRIMECAP Management Company
|
0.34% | 27.98% | 14.33% | 12.85% |
U.S. Equity |
Vanguard VIF - Equity Income Portfolio
Wellington Management Company, LLP and The Vanguard Group, Inc.
|
0.29% | 20.13% | 14.28% | 9.27% |
U.S. Equity |
Vanguard VIF - Equity Index Portfolio
The Vanguard Group, Inc.
|
0.14% | 26.11% | 15.52% | 11.88% |
Taxable Bond |
Vanguard VIF - High Yield Bond Portfolio
Wellington Management Company, LLP and The Vanguard Group, Inc.
|
0.24% | 11.66% | 5.13% | 4.34% |
International Equity |
Vanguard VIF - International Portfolio
Bailie Gifford Overseas Ltd. and Schroder Investment Management North America Inc.
|
0.33% | 14.65% | 10.28% | 6.80% |
U.S. Equity |
Vanguard VIF - Mid-Cap Index Portfolio
The Vanguard Group, Inc.
|
0.17% | 15.83% | 12.56% | 9.27% |
Sector Equity |
Vanguard VIF - Real Estate Index Portfolio
The Vanguard Group, Inc.
|
0.26% | 11.70% | 7.18% | 7.29% |
Taxable Bond |
Vanguard VIF - Short-Term Investment-Grade Portfolio
The Vanguard Group, Inc.
|
0.14% | 6.16% | 2.13% | 1.93% |
U.S. Equity |
Vanguard VIF - Small Company Growth Portfolio (4)
ArrowMark Colorado Holdings, LLC and The Vanguard Group, Inc.
|
0.29% | 19.65% | 9.98% | 7.85% |
Taxable Bond |
Vanguard VIF - Total Bond Market Index Portfolio
The Vanguard Group, Inc.
|
0.14% | (5.58)% | 1.04% | 1.71% |
U.S. Equity |
Vanguard VIF - Total Stock Market Index Portfolio
The Vanguard Group, Inc.
|
0.13% | 25.95% | 14.93% | 11.29% |
Sector Equity |
Virtus Duff & Phelps Real Estate Securities Series Class I
Virtus Investment Advisers, Inc. Sub-advised by Duff & Phelps Investment Management Co.
|
0.85%** | 11.31% | 8.84% | 8.22% |
U.S. Equity |
Virtus KAR Small-Cap Growth Series Class I
Virtus Investment Advisers, Inc. Sub-advised by Kayne Anderson Rudnick Investment Management LLC
|
0.89%** | 19.99% | 11.98% | 14.14% |