symetra ® and the symetra financial logo are registered service marks of symetra life insurance...

Symetra® and the Symetra Financial logo are registered service marks of Symetra Life Insurance Company,777 108th Avenue NE, Suite 1200, Bellevue, WA 98004.

Agent and Advisor Use OnlyLIA-5368 5/09

Symetra Financial

presented by:

John R. Warren, Jr., CLU, ChFCVice President

Agency Distribution

Symetra Life Insurance Company

Bellevue, Washington

Agent and Advisor Use Only

Disclaimers

The information contained in the following slides is as of Dec. 31, 2008. Symetra undertakes no obligation to update this information. Historical results are not necessarily indicative of future results. Future results, including our financial performance, business operations and trends in our business and industry, are subject to significant risks and uncertainties, including without limitation the following:

– fluctuations in interest rates and performance of financial markets– realization of growth and business retention estimates– achievement of our premium targets and profitability– changes in mortality and morbidity patterns– changes in competition and pricing environments– our ability to obtain rate increases while maintaining renewal rates under

priced insurance accounts– achievement of our expense reduction goals– legislative and regulatory developments– performance of our investment portfolio– court decisions and trends in litigation– the availability and pricing of reinsurance– the occurrence of significant natural disasters or terrorist attacks– general economic and market conditions


Agenda

• Generate Revenue

• Remove Problems – Product Solutions

• Term Insurance

*The term "Longevity Insurance" refers to a concept, not the name of an insurance product. Some states define longevity insurance as an annuity with payout option only with no death benefit.


Term Life Insurance: Agency Positioning

Bottom Line:

Revenue doesn’t compensate the time and effort required….

Problem:

Lots of paperworkLong underwriting time

Application to issuance in 2-3 monthsClient calls because of headlinesClient doesn’t qualify for quoted rate classNeed competitive rates


Symetra Express

• Go from “Hello” to closed sale in as little as 10 minutes.*

• Rate Class Estimator.

• Avg. Underwriting time – 27 Days!

• Temporary Insurance Agreement can provide immediate coverage.*

The Symetra solution includes the Symetra Express online quote and application system.

*Restriction may apply to binding life insurance coverage.


Express Quote and Apply Tool

Quote:Input client information and determine the coverage amount.



View Quote results.



Begin the Apply process.



Bottom Line:


Problem: Lots of paperworkLong underwriting time

Application to issuance in 2-3 monthsClient doesn’t qualify for quoted rate classCalls because of headlinesNeed competitive rates


About Symetra

About Symetra Financial

Established 19571

Headquarters Bellevue, Wash.largest private company in Washington state2

Core Products life insurance, annuities, employee benefits, retirement plans

Assets $21.1 billion3

Revenues $1.5 billion in 2008 total revenues4

Ownership Investor group led by White Mountains Insurance Group, Ltd., and Berkshire Hathaway

Rank Top-50 U.S. life insurance company based on admitted assets5

Performance “Ward’s 50” top-performing insurance company for 2008 based on financial performance6

1Symetra Life Insurance Company is a subsidiary of Symetra Financial Corp.2 Based on 2007 revenue, Puget Sound Business Journal, 100 Largest Private Companies (June 13-19 2008).3Total GAAP assets and combined liabilities and stockholders’ equity for 12 months ended June 30, 2009.4GAAP financial figures for Symetra Financial Corp.5Symetra Life Insurance Company, “Best’s Review,” Admitted Assets, Top Life Writers, United States, 2007 (July 2008).6 Symetra Life Insurance Company, Ward Group, Top 50 Life-Health Companies (July 2008).

“2008 was a year of great progress, including all-time-record sales, solid operating results and modest growth in book value.”

President & CEO Randy Talbot 2008 Annual Report


11

Major Industry Issues

Industry Issues Symetra’s PositionExposure to subprime assets Less than $1 million

Credit default swaps None

Hedging for variable annuity riders No complex living benefit riders

Net cash outflows Strong net positive cash flows

Securities lending Winding down a small program

NAIC capital relief No concessions requested or granted

TARP NO

DAC / Intangibles / Goodwill No unlocking/recoverability issues

Debt maturities Nothing until 2016

Credit markets Improving unrealized loss position


12

Record Growth in Sales

Total New Sales

97%120%

$ in millions

Historical results are not necessarily indicative of future results.


13

Financial Strength Ratings

A.M. Best A (Excellent)

Third Highest of 16

Moody’s A3 (Good)

Seventh Highest of 21

Standard & Poor’s A (Strong)

Sixth Highest of 21

Fitch A+ (Strong)

Fifth Highest of 24

Ratings for Symetra Life Insurance Company:



Bottom Line:


Problem: Lots of paperworkLong underwriting time

Application to issuance in 2-3 monthsClient doesn’t qualify for quoted rate classCalls because of headlinesNeed competitive rates



Female, Age 60, $500,000 Face Amount

Symetra Life: $1865/year Apply Online NowSymetra Term 20

Lincoln Benefit Life: $1870/yearGT Platinum

Lincoln Benefit Life: $1870/yearTrueTerm 20

Genworth Life and Annuity: $1930/yearColony 20

Genworth Life: $1930/yearSureTerm 20

ING: $1990/yearTermSmart 20

Prudential: $1990/yearTerm Essential 20

Banner Life Insurance: $1995/yearOPTerm 20


Term Life Insurance Positioning

Male, Age 50, $500,000 Face Amount

The Hartford: $1000/yearHartford Bicentennial Term 20


Lincoln National Life: $1030/yearLincoln LifeElements 20

AXA Equitable: $1040/yearSeries 150 20yr

North American Company: $1045/yearADDvantage 20

Symetra Life: $1050/year Apply Online Now’ Symetra Term 20

Transamerica Occidental Life: $1055/yearTrendsetter Super 20





Western Reserve Life: $730/yearWRL TermPlus 20







Genworth Life: $785/yearSure Term 20










AXA Equitable: $815/yearSeries 150 20yr












Lincoln Benefit Life: $295/yearGT Platinum 20











MetLife Investors USA: $264/yearGLT 20



Just to clarify where we don’t play:

Under $500,000

especially from:

$250,000 - $500,000


Term Life Positioning: Client Positioning

• The leading cause of poverty among widows and widowers is a lack of adequate life insurance.1

• Virtually all American households are underinsured.1

• 44% of all U.S. households either don’t own life insurance and think they should, or own life insurance and believe the need more.2

• 22% percent of Americans have no life insurance protection at all.2

• Almost half carry coverage on only some household members.2

1Scott Burns, syndicated columnist, Yes, There is a Reason to have Life Insurance, Seattle Times, October 31, 20042LIMRA International, September 2005


Term Life Positioning: Client Positioning

• They think it’s a hassle.• They think it takes too much time.• They think they can’t afford it.• They procrastinate.

Why? Because no one is asking them to buy.

So, if people understand they need life insurance, why aren’t they buying it?*

*LIMRA International, September 2005


At Symetra, you (and your clients) get more

• Paperless - Express platform can bind up to $250,000 in 10 minutes

• Fast Underwriting - Application to issuance in an average of 27 days

– Direct access to our underwriters

– Symetra schedules the personal interviews and completes the parameds

• Issue as Applied - 70% of applicants are preferred or better~Rate class estimator

• Headline Risk – Symetra: Conservative, Predictable and Boring

So the cost for all this, per month? $4


Spot the Opportunity for LIFE

Major life events• Marriage, birth of child, new home

Major purchases / debts • New homeowner• Consumer debt

Temporary need for life insurance• To cover length of mortgage• The need ends after children through college

Budgets that only allow for term premium• All term policies are convertible to any Symetra permanent

product*

* Not available in all states


Symetra Term Life Insurance

Product Type 10,15, 20 and 30-year Level Term

Minimum Face Value $100,000 and up (varies by class)

Maximum Face Value No Maximum

Minimum Issue Age 15 Years = Non-Nicotine and Standard 20 Years = Preferred Best, Preferred Plus, Preferred and Standard Plus

Maximum Issue Age 75 Years - 10-Year Term 70 Years - 15-Year Term65 Years - 20-Year Term50 Years - 30-Year Term

Rates Fully Guaranteed

Renewable Coverage Up to age 95

Convertible Through age 75 or end of initial term

Average Time to Issue 27 days

Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.


No-Cost Riders*

Safety Benefit– Additional $10,000 paid if the insured dies as the result of a motor vehicle

accident and was wearing a seat belt at the time of the accident.

Transportation Benefit– Additional $5,000 death benefit paid to help cover the cost of transporting

the insured if death occurs more than 100 miles from the principal residence.

Accelerated Benefits Option– Living benefit that pays up to 50 percent of the policy’s death benefit

($250,000 maximum) in advance if the insured is diagnosed as terminally ill. Terminal illness period and percentage of accelerated benefit may differ in some states.



Optional Riders*

Insured Children’s Benefit – One premium covers all of the insured’s children.

– Coverage amounts available from $1,000 to $10,000 per child.

– Premium for $5,000 in coverage per child is $2.63 per month and premium for $10,000 in coverage per child is about $5.00 per month.

Waiver of Premium Benefit for Total Disability– Waives premiums due and continues coverage if primary insured is

deemed totally disabled for six months.



Optional Riders (continued)

Accidental Death Benefit (ADB)– Provides an additional death benefit up to $250,000 if death is accidental.

Guaranteed Insurability Option (GIO)*– Allows policyholder to purchase additional coverage ($10,000 to $45,000

depending on age) at specific option dates without evidence of insurability.

Additional Term Rider (ATR)– Allows policyholder to add a term life insurance policy to their own policy

for a family member or business partner with face amounts starting at $50,000. Rider must be for same term coverage period as the primary insured’s term.

*Not available on policies with ATR or premium rating.


Marketing Material

Term Brochure LS-6702

Term Fact SheetLS-6697

Term Quote SlipLS-6766


Symetra

• Generate Revenue

• Remove Problems

– Product Solutions

• Term Insurance


• Does our competitive, faster, easier Term speak to your bottom line?

Symetra


• Get contracted and appointed with Symetra

• Participate on a product training webinar

• Start selling

If So, Your Next Steps


Thank You

Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.

The decision to purchase income annuities to fund your clients' retirement needs now, or in the future, may change based on your review of their investment strategy, the return of their investments, and their individual needs. Your clients will be required to complete an application to purchase an income annuity from Symetra Life, and it will be their responsibility to determine when and if to liquidate mutual funds or other investments, if applicable, to purchase any annuity. Your clients should consult their tax and financial advisors when purchasing or selling any investments.

Life insurance and annuities are issued by Symetra Life Insurance Company, located at 777 108 th Ave. NE, Suite 1200, Bellevue, WA 98004-5135, and are not available in all U.S. states or any U.S. territories.

Symetra® and the Symetra Financial logo are registered service marks of Symetra Life Insurance Company.

symetra ® and the symetra financial logo are registered service marks of symetra life insurance...

Documents

advisor use

term life insurance

insurance product

symetra solution

symetra express online

term longevity insurance

express quote

washington slide