Symetra says policyholders must elect the benefit at issue and may terminate it at any time, eliminating the benefit charges. Also new to Symetra Classic is the addition of the Cash Value Accumulation Test, which claims to provide more flexibility in premium funding than the existing Guideline Premium Test life insurance option.
Classic UL is directed at customers seeking a life insurance policy that offers tax-advantaged growth and cash value accumulation, which can be accessed when unplanned needs arise or as a source of supplemental retirement income, Symetra says.