2018 Annual Compliance Reminders
Publication Date: May 1, 2018 Effective Date: Immediately
Symetra Life Insurance Company (Symetra) is built on a deeply held commitment to high ethical standards, which aligns with our Value, Transparency and Sustainability (VTS) principles. This annual publication is being provided as a reminder of the important regulatory requirements that apply to the solicitation and sale of Symetra’s products. Please take the time to review this information and contact us with any questions.
SALES MATERIAL REVIEW
What should I review?
Please review all pieces used to discuss, promote or present Symetra products to your clients to ensure that all sales materials have been approved by the Symetra Compliance Department. Sales materials include:
- Websites and social media
- Sales illustrations
- Presentation materials
- Forms, graphs and pictures
- Any other written, printed or electronically produced information that describes the benefits, features, performance or costs of our products.
Reminder: Whenever you receive updated sales material, be sure to dispose of all previous versions of the piece.
How do I know if material has been approved?
Printed material, electronic pieces and Web pages contain a Symetra form number printed in the lower left corner of the front page.
What if a printed piece does not appear to be approved?
Immediately stop using the piece and send a copy to Symetra for approval (see contact information below). To expedite approval, please ensure that you follow your field manager’s or insurance agency principal’s review procedures before submitting the piece to us.
Upon receipt of the piece, we will review the material and:
- Make necessary changes.
- Assign a form number (this number must appear in the lower left corner of the final piece).
- Return the material to you for printing (including form number).
Once the piece is final and has been printed, submit an original hard copy to us by fax or email (provided below).
What if an electronic piece or a Web page hasn’t been approved?
Submit it to us for review and approval prior to use.
What if I change something you’ve already approved?
Resubmit it to Symetra for approval prior to use.
What about securities-related sales material?
Following our approval, please submit it to your broker-dealer for approval.
What happens if I use unapproved sales material?
The use of unapproved sales materials may result in termination of your appointment with Symetra.
How do I submit sales materials or contact Symetra with questions or comments?
Individual Life & Retirement:
Individual Life Sales Desk: 1-877-737-3611 or firstname.lastname@example.org
Annuity Sales Desk: 1-800-706-0700 or email@example.com
Group Life & Disability: (678) 728-2972 or Fax: (678) 728-1567
Select Benefits: 1-678-728-1540
Stop Loss: (617) 565-8301
An illustration is an important tool in most life insurance/annuity sales, providing prospects with tangible representations of the intangible properties of life insurance and the value and importance annuities can provide in retirement planning. They can play a crucial role in turning your prospect into a client.
When using an illustration with a consumer, you are expected to fully explain its hypothetical nature. Point out the illustration’s assumptions and limitations and the fact that values in illustrations are projections and are not guaranteed.
For Life Insurance Producers Only:
As a method to allocate overhead expenses for illustrations, Symetra uses the Independent factors published by the National Association of Insurance Commissioners as part of its annual GRET (generally recognized expense table) factors. The Independent factors are appropriate for a system that uses producers who often contract with multiple companies.
MARKET CONDUCT AND REFERENCE GUIDE
As part of our commitment to ethical sales, marketing practices and consumer interactions we have developed the Market Conduct and Reference Guide for your use. By representing Symetra, you are expected to comply with the principles and requirements set forth in the guide. The guide can be reviewed here by clicking on the “Learn More” icon under “Producer Market Conduct”:
It can also be accessed from the Appointed Agents and Advisors section of symetra.com.
Thank you for taking time to review these important reminders. If you suspect any violations or abuse of our policies please report them by emailing firstname.lastname@example.org.
Suzanne Webb Sainato
Chief Compliance Officer
Symetra Life Insurance Company