If you are receiving structured settlement payments from Symetra, your annuity was issued by Symetra Life Insurance Company, headquartered in Bellevue, Washington. Symetra has been writing structured settlement annuities since the late 1980s, and we see their contracts regularly. Your contract number starts with “AA” followed by a series of numbers. Whether your settlement was from a personal injury, wrongful death, or workers' compensation claim, the transfer process is the same.
Symetra Entity Structure
Your Symetra paperwork may reference two different entity names:
- Symetra Life Insurance Company — the annuity issuer. This is the company that makes your payments. Headquartered at 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004.
- Symetra Assigned Benefits Service Company — the entity that purchased the annuity from Symetra Life to fund your settlement. This is the assignee in the qualified assignment. Your VOB letter will state that Symetra Assigned Benefits Service Company “purchased this annuity from Symetra Life Insurance Company to fund payment obligations under a settlement agreement.”
Both entities are part of Symetra Financial Corporation, which was acquired by Sumitomo Life Insurance Company of Japan in 2016. The acquisition did not change any annuity contract terms or payment obligations. You may also see references to related Symetra entities including First Symetra National Life Insurance Company of New York (for New York state contracts) or Symetra Assigned Benefit Service Company (SABSCO), which is the formal name for the assignee entity.
How Symetra Payments Are Structured
Symetra contracts come in a wide range of structures. Here is what we typically see:
- Life-contingent monthly with long guarantee: A fixed monthly amount paid for as long as the annuitant is alive, with a guaranteed minimum number of payments (often 480 payments, which is 40 years). If you pass away before the guaranteed period ends, payments continue to your beneficiary.
- Step-up guaranteed in blocks: Payments that increase in 60-month (5-year) blocks. For example, $615 per month for 5 years, then $755 for 5 years, then $925, then $1,100, then $1,275, followed by a life-contingent phase at a higher amount. This is one of the most common Symetra structures we see.
- Straight guaranteed monthly: A fixed monthly amount for a set number of payments (e.g., $2,000 per month for 360 payments). No life-contingent phase.
- Life-contingent with 3% COLA: Monthly payments that increase by 3% annually for the annuitant's lifetime, often with 240 payments certain (20-year guarantee).
- Periodic guaranteed lump sums: One-time payments on specific dates, sometimes scheduled every 5 years with increasing amounts (e.g., $20,000, then $25,000, then $50,000, then $100,000).
- Combination structures: Many Symetra contracts combine monthly payments, step-ups, lump sums, and life-contingent phases in a single annuity.
If your Symetra contract has a mix of guaranteed and life-contingent payments, we can provide separate quotes for each portion so you can decide exactly what to sell.
How to Get Your Symetra Benefits Letter (VOB)
Symetra's VOB process is straightforward. Here is how to request yours:
- Phone: Call (800) 796-3872 (1-800-SYMETRA)
- Hours: Monday through Friday, 6:00 AM to 4:30 PM Pacific Time
- Fax: (866) 817-8780 or (866) 532-1357
- Have ready: Your contract number (starts with AA) and full name
- Delivery: Symetra sends VOB letters via fax
If you cannot reach Symetra or do not have your contract number, call us at (800) 317-3769 and we can request the VOB on your behalf. We work with Symetra's Income Annuities Operations team regularly and know the process.
Prior Transfers and Repeat Sales
If you have sold Symetra payments before, you can sell additional payments in a new transaction. Symetra tracks prior court-ordered transfers and their VOB letters will include a note that “a portion of the payments originally included in this annuity plan have been redirected by court order.” This is standard language and does not affect your ability to sell remaining payments.
We see repeat Symetra transactions regularly. The process is the same as a first-time sale. Each transaction requires its own court approval.
Symetra's Financial Strength Ratings
Symetra Life Insurance Company holds strong financial strength ratings from all three major rating agencies:
- A.M. Best: A (“Excellent”)
- Standard & Poor's: A (“Strong”)
- Moody's: A1 (“Good”)
These are solid, investment-grade ratings. Your Symetra payments are backed by a financially stable company. Symetra is owned by Sumitomo Life Insurance Company of Japan, one of the largest life insurers in Asia, which provides additional financial backing.
The Transfer Process for Symetra Annuities
- Get a free quote. Tell us about your Symetra payments and we will have an offer for you within 24 hours.
- Sign your paperwork. You can sign via DocuSign or with a notary we send to you at no cost. We can often advance you cash the same day.
- Court filing and notice. CSF prepares all court documents and notifies Symetra and other interested parties. The notice period runs 20 to 30 days depending on your state.
- Court hearing. A brief hearing where the judge confirms the sale is in your best interest. CSF handles all scheduling and legal presentation.
- Funding. After the court order is signed, funding can happen as quickly as one business day.
Why CSF for Symetra Annuities
- We know Symetra's process. We have worked with their Income Annuities Operations team in Bellevue on many transactions. We know the AA contract number format, the VOB turnaround, and how they handle court orders.
- Complex structures are our specialty. Symetra contracts often have five or six different payment phases. We can break down every line of your schedule of benefits and explain it in plain language.
- Life-contingent expertise. Many Symetra contracts include life-contingent payments with COLA adjustments and long guarantee periods. We specialize in valuing these.
- Transparent pricing. The amount we quote is the amount you receive. Not a penny less.
- Cash advances available. Need money before the court process is complete? We can often advance funds the same day you sign.
- 4,000+ transactions closed. We have the track record and funding partners to close your deal.
The fastest way to find out what your Symetra payments are worth is to call us at (800) 317-3769 or fill out the form on this page. There is no cost, no obligation, and no pressure. We want to earn your business.