Symetra Introduces Cancer Care Compass(SM)
BELLEVUE, Wash. – Symetra Life Insurance Company today announced the introduction of Cancer Care Compass, an industry-first optional rider package that offers a unique combination of cancer care benefits and services and is available at application on Symetra’s indexed universal life (IUL) products, Accumulator Ascent IUL and Protector IUL.
Nearly 40 percent of Americans will be diagnosed with cancer in their lifetime,1 and it’s reported that 42 percent of cancer deaths could be prevented through lifestyle changes.2
“We’ve all been touched by cancer in some way, whether through a friend, family member, colleague or our own diagnosis. With Cancer Care Compass, we’re aiming to meet the needs of more customers by offering a solution that can help them be proactive about their health and their futures,” said Phil Bouvier, senior vice president, Individual Life Sales & Marketing. “The Cancer Care Compass rider package provides access to multi-cancer early detection testing and can help provide the monetary, nutritional and health care support to live a longer and healthier life. It’s a valuable addition to our living benefit portfolio, a suite of features and benefits that can help customers today, not just when they’re gone.”
Cancer Care Compass has four components:
- Multi-cancer early detection test — Access to the first-of-its-kind Galleri® multi-cancer early detection test — provided by GRAIL— that detects a cancer signal across more than 50 types of cancer, including many that are not commonly screened for.
- Health advocacy services — Health AdvocateSM provides policyowners and their eligible family members with expert-led, compassionate support to help navigate the healthcare system, including resolving insurance-related issues, wellness coaching, negotiating bill payments, and a 24/7 registered hotline.
- Nutrition intervention, guidance and support — Savor Health® provides policyowners and eligible family members with on-demand access to personalized, evidence-based nutrition interventions that can help prevent and manage chronic conditions like cancer. Services include customized recipes, menu plans and 24/7 online nutrition support.
- Cash benefit — Policyholders select a Cancer Care Compass cash benefit amount at application. With a qualifying cancer diagnosis, a lump sum is paid with no restrictions on how the money can be used. Replace lost income, pay insurance deductibles and copayments, or even take a well-deserved vacation. No receipts or invoices are required.
To learn more about Cancer Care Compass, or Symetra’s flagship permanent products — Symetra Protector IUL and Symetra Accumulator Ascent IUL — contact your insurance professional.
About Symetra
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation, a diversified financial services company based in Bellevue, Washington. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent financial professionals and insurance producers. For more information, visit www.symetra.com.
Life insurance is issued by Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004-5135. Policies and riders may not be available in all U.S. or any U.S. territory and terms and conditions may vary by the state in which they are available.
Symetra Accumulator Ascent IUL and Protector IUL are flexible-premium adjustable life insurance policies with index-linked interest options. Policy form number for Accumulator Ascent IUL is ICC17_LC1 in most states. Policy form number for Protector IUL is ICC18_LC2 in most states.
Symetra’s Cancer Care CompassSM is a rider package comprised of the Cancer Insurance and the Value Added Services riders and is available with Symetra’s indexed universal life insurance policies.
A rider is a provision of the policy that may have additional costs, limitations, potential benefits and features that should never be confused with the base policy itself. Before evaluating the benefits of a rider, carefully examine the policy to which it is attached.
Certain benefits or riders may have tax implications. You should consult with your legal or tax professional prior to purchasing.
Life insurance policies contain exclusions, limitations, reductions of benefits and terms for keeping them in-force. Please contact your insurance professional for complete details.
The Cancer Insurance Rider is offered at application for an additional cost and is usually issued under rider form number L-10351. The rider is only available for insureds issue ages 20-80, and if elected, additional underwriting will be required. It’s possible that the insured is approved for the base policy but declined for the rider based on the rider underwriting results. The rider is not available on policies with ratings worse than Table 4, with annual flat extras exceeding $5 per $1,000, or with both flat extras and table rates. The maximum cash benefit amount is selected at application and cannot be increased once the rider is issued. If the Cancer Insurance Rider is declined, the Value Added Services Rider is not available.
If the insured is certified as having been diagnosed with a Category One or Two cancer after the benefit waiting period, the policyowner will be eligible to receive a lump-sum cash benefit. The claim must be submitted to Symetra with a board-certified physician’s statement and proof of the insured’s qualifying cancer diagnosis as soon as reasonably possible. The initial benefit amount may be lower than the maximum benefit amount elected (Category One) if the diagnosis is first certified as a Category Two cancer. If the insured is subsequently diagnosed and certified with a Category One cancer, any remaining benefit will be paid out in a lump sum. When the total maximum benefit amount is paid, the rider will terminate and the monthly rider charges will stop. In no case will the total benefit amount be higher than the maximum benefit amount. The payout of the rider’s benefit amount will have no effect on the policy’s death benefit, accelerated death benefit rider benefits, policy value or loan value. For policies with a lapse protection benefit, the lapse protection value will be reduced by rider charges.
Monthly rider charges, when deducted from the policy value, are treated as withdrawals and are subject to the same income tax rules that apply to any other withdrawals. The purchase of this rider and/or receipt of a Cancer Benefit Amount payment may have other income tax consequences. Consult with your personal tax or legal professional before applying for this benefit.
Cancer Care Compass includes the Value Added Services Rider for an additional cost and is usually issued under form number L-10358. The value-added services are provided by third-party providers that are independent of Symetra Life Insurance Company. Registering to use or using these services is optional.
The Galleri® multi-cancer early detection screening test is administered by GRAIL, LLC, and is available one time to insured’s ages 50-89 under the rider after the benefit waiting period. The test is available through an independent telemedicine healthcare provider. The test results are provided to the insured. Access to the rider’s nutrition or health advocacy services are available after the benefit waiting period and will remain available to the policyowner and their eligible family through the insured’s age 90 or at no additional cost for two years following the payment of the rider maximum benefit amount.
Products and services offered under the Value Added Services Rider are not insurance and are subject to change. For more information, please contact Symetra at www.symetra.com or by telephone at 1-800-796-3872. There are additional requirements associated with participation in the value-added services. Terms and conditions may vary and may not be available in all U.S. states or any U.S. territory. If any service is discontinued or if we elect to cease to offer a service, we may substitute a reasonably comparable service. If no reasonably comparable service is available, we may discontinue the specific service and cease charging for that service.
As of 3/29/2024, Cancer Care Compass is not available in the following states: AK, CA, CO, FL, HI, ID, IN, LA, MA, MD, MO, NH, NM, ND, NJ, NY, OH, OR, PA, SC, UT, VT, VA and WA.
1American Cancer Society, June 5, 2023.
2Cancer Facts and Statistics: What You Need to Know (verywellhealth.com), July 4, 2022.
Symetra® is a registered service mark of Symetra Life Insurance Company. Cancer Care CompassSM is a service mark of Symetra Life Insurance Company.
