| UPDATED INFORMATION ABOUT YOUR CONTRACT | ||
| KEY INFORMATION | ||
| FEES AND EXPENSES | |||||||||||||||||
| Charges for Early Withdrawals | A Withdrawal Charge of $25 will apply to each withdrawal after the first withdrawal each Certificate Year. | ||||||||||||||||
| Transaction Charges | A Transfer Charge of $10 or 2% of the amount transferred, whichever is less, will apply upon each transfer in excess of 12 transfers in a Certificate Year. A Loan Application Charge of $50 or 2% of the Loan Amount whichever is less will apply upon approval of each loan. An Annual Loan Maintenance Charge of $35 or 2% of the Loan Amount whichever is less will apply each Certificate Year a Loan is outstanding. | ||||||||||||||||
| FEES AND EXPENSES | |||||||||||||||||
Ongoing Fees and Expenses (annual charges) | The table below describes the fees and expenses that you may pay each year, depending on the options you choose. Please refer to your Certificate data page for information about the specific fees you will pay each year based on the options you have elected. | ||||||||||||||||
| Annual Fee | Minimum | Maximum | |||||||||||||||
Base Contract/Certificate (1) | 1.38% | 3.63% | |||||||||||||||
| Investment options (Portfolio fees and expenses) (2) | 0.13% | 2.38% | |||||||||||||||
(1) Base Contract/Certificate fees are expressed as a percentage of Separate Account assets, and include mortality and expense risk fees, which are charged as a percentage of Certificate Value, and the annual Certificate fee, which is a fixed dollar amount. (2) Portfolio fees and expenses are expressed as a percentage of the Portfolio’s net asset value and include management fees, distribution and/or service 12b-1 fees, and other expenses (before any waivers or expense reimbursement). | |||||||||||||||||
Because your Certificate is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Certificate, the following table shows the lowest and highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the Certificate, which could add charges that substantially increase costs. | |||||||||||||||||
Lowest Annual Cost $1,279.93 | Highest Annual Cost $2,967.23 | ||||||||||||||||
The Lowest Annual Cost shown above assumes the following: •Investment of $100,000 •5% annual appreciation •Least expensive combination of Certificate Classes & Portfolio Company fees & expenses •No sales charges •No additional purchase payments, transfers or withdrawals | The Highest Annual Cost shown above assumes the following: •Investment of $100,000 •5% annual appreciation •Most expensive combination of Certificate Classes, Portfolio Company fees & expenses •No sales charges •No additional purchase payments, transfers or withdrawals | ||||||||||||||||
| RISKS | ||||||||
| Risk of Loss | You may lose money by investing in the Contract or the Certificates issued thereunder. | |||||||
| Not a Short-Term Investment | The Certificate is not a short-term investment and is not appropriate if you need ready access to cash. Withdrawal charges will reduce the value of your Certificate if you withdraw money during the Accumulation Phase. The benefits of tax deferral and living benefit protections also mean the Certificate is more beneficial to investors with a long time horizon. Tax penalties may apply to withdrawals taken before age 59 ½. Transfer limits and fees designed to deter marketing timing may apply under policies designed to deter frequent trading and market timing. | |||||||
| Risks Associated with Investment Options | Investment in the Certificate is subject to the risk of poor investment performance and can vary depending on the performance of the Portfolios available under the Contract and Certificates issued thereunder. Each Portfolio has its own unique risks. You should review these Portfolios before making an investment decision. | |||||||
| Insurance Company Risks | Investment in the Certificate is subject to the risks related to Symetra Life Insurance Company. Any obligations, including obligations related to the Symetra Fixed Account, guarantees, and benefits provided for under the Certificate are subject to our financial strength and claims-paying ability. More information about us, including our financial strength ratings, is available upon request by calling 1-800-796-3872, or visiting us at www.symetra.com/regulatoryreports. | |||||||
| RESTRICTIONS | ||||||||||||||
| Investments | You may allocate amounts under the Certificate to one or more of the Sub-accounts available to you. Certain Sub-accounts are closed to new investors and only available to Certificate Owners who have been continuously invested in them as of a certain date. Once a Certificate Owner has transferred the entire value out of one of these closed Sub-accounts, the Sub-account is no longer available to the Certificate Owner for investment. You may also allocate money to the Symetra Fixed Account, which credits guaranteed interest rates. We reserve the right to add, combine, restrict or remove any Sub-account available as an investment option under your Contract or Certificates issued thereunder. We further reserve the right to restrict or remove the Symetra Fixed Account as an investment option available under the Contract or the Certificates issued thereunder. | |||||||||||||
| TAXES | ||||||||||||||
| Tax Implications | You should consult a competent tax professional about your individual circumstances to determine the tax implications of an investment in and purchase payments received under the Certificate. There is no additional tax benefit if you purchased the Certificate through a tax-qualified plan or individual retirement account (IRA). Access to amounts held in a qualified Certificate may be restricted or prohibited. All distributions other than death benefits, including surrenders, withdrawals and loans taken or secured by the Certificate will be subject to ordinary income tax, and may be subject to tax penalties. | |||||||||||||
| CONFLICTS OF INTEREST | ||||||||||||||
| Investment Professional Compensation | Investment professionals who solicited sales of the Contracts receive a portion of the commission payable to the broker-dealer firm, depending on the agreement between the broker-dealer and the investment professional. We pay commissions as a percentage of Purchase Payments invested in the Certificate. An investment professional may receive different compensation for selling different investment products and may have a financial incentive to offer or recommend one investment product over another. | |||||||||||||
| Exchanges | An investment professional may have a financial incentive to offer you a new contract in the place of a contract you already own. You should not exchange this Certificate for a new one unless you determine, after comparing the features fees and risks of both contracts, that the exchange is preferable for you. | |||||||||||||
| APPENDIX A: PORTFOLIOS AVAILABLE UNDER THE CONTRACT AND CERTIFICATE | ||
| TYPE | PORTFOLIO NAME AND ADVISOR | CURRENT EXPENSES (As of 12/31/2023) | PLATFORM CHARGE (Sub-Account Fund Facilitation Fee) | CURRENT EXPENSE + PLATFORM CHARGE | AVERAGE ANNUAL TOTAL RETURN (As of 12/31/2023) | ||||||||||||||||||
| 1 Year | 5 Year | 10 Year | |||||||||||||||||||||
| U.S. Equity | BlackRock Advantage Large Cap Value V.I. Fund (Class III) BlackRock Advisors, LLC | 0.94%** | 24.90% | 14.43% | 10.85% | ||||||||||||||||||
| U.S. Equity | Columbia VP Select Mid Cap Value Fund - Class 1 Columbia Management Investment Advisors, LLC | 0.82%** | 1.75% | 10.81% | 8.56% | ||||||||||||||||||
| U.S. Equity | Fidelity® VIP Contrafund℠ Portfolio - Service Class 2 Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. FMR UK, FMR HK and FMR Japan serve as sub-advisers for the fund. (*) | 0.81% | 33.12% | 16.36% | 11.33% | ||||||||||||||||||
| Target Date | Fidelity® VIP Freedom 2025 Portfolio℠ - Service Class 2 Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. (*) | 0.74% | 13.32% | 7.98% | 5.93% | ||||||||||||||||||
| Target Date | Fidelity® VIP Freedom 2030 Portfolio℠ - Service Class 2 Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. (*) | 0.77% | 14.46% | 9.02% | 6.59% | ||||||||||||||||||
| Target Date | Fidelity® VIP Freedom 2035 Portfolio℠ - Service Class 2 Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. (*) | 0.82% | 16.53% | 10.57% | 7.40% | ||||||||||||||||||
| Target Date | Fidelity® VIP Freedom 2040 Portfolio℠ - Service Class 2 Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. (*) | 0.86% | 18.61% | 11.65% | 7.87% | ||||||||||||||||||
| Target Date | Fidelity® VIP Freedom 2045 Portfolio℠ - Service Class 2 Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. (*) | 0.87% | 19.13% | 11.75% | 7.92% | ||||||||||||||||||
| Target Date | Fidelity® VIP Freedom 2050 Portfolio℠ - Service Class 2 Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. (*) | 0.87% | 19.19% | 11.74% | 7.91% | ||||||||||||||||||
| Money Market | Fidelity® VIP Government Money Market Portfolio - Service Class 2 Fidelity Management & Research Company (FMR) is the fund's Investment Advisor. FMR UK, FMR HK and FMR Japan serve as sub-advisers for the fund. (*) | 0.52% | 4.63% | 1.57% | 0.97% | ||||||||||||||||||
| U.S. Equity | Franklin Small Cap Value VIP Fund - Class 2 Franklin Mutual Advisers, LLC | 0.91%** | 12.75% | 11.06% | 7.04% | ||||||||||||||||||
| Asset Allocation | PIMCO All Asset Portfolio - Advisor Class Pacific Investment Management Company LLC | 2.285%** | 8.02% | 5.90% | 3.93% | ||||||||||||||||||
| Taxable Bond | PIMCO Total Return Portfolio - Advisor Class Pacific Investment Management Company LLC | 0.85% | 5.83% | 0.98% | 1.60% | ||||||||||||||||||
| Asset Allocation | Vanguard VIF - Balanced Portfolio Wellington Management Company, LLP | 0.21% | 0.25% | 0.46% | 14.33% | 9.59% | 7.89% | ||||||||||||||||
| Taxable Bond | Vanguard VIF - High Yield Bond Portfolio Wellington Management Company, LLP and The Vanguard Group, Inc. | 0.24% | 0.25% | 0.49% | 11.66% | 5.13% | 4.34% | ||||||||||||||||
| International Equity | Vanguard VIF - International Portfolio Bailie Gifford Overseas Ltd. and Schroder Investment Management North America Inc. | 0.33% | 0.25% | 0.58% | 14.65% | 10.28% | 6.80% | ||||||||||||||||
| TYPE | PORTFOLIO NAME AND ADVISOR | CURRENT EXPENSES (As of 12/31/2023) | PLATFORM CHARGE (Sub-Account Fund Facilitation Fee) | CURRENT EXPENSE + PLATFORM CHARGE | AVERAGE ANNUAL TOTAL RETURN (As of 12/31/2023) | ||||||||||||||||||
| 1 Year | 5 Year | 10 Year | |||||||||||||||||||||
| U.S. Equity | Vanguard VIF - Mid-Cap Index Portfolio The Vanguard Group, Inc. | 0.17% | 0.25% | 0.42% | 15.83% | 12.56% | 9.27% | ||||||||||||||||
| Sector Equity | Vanguard VIF - Real Estate Index Portfolio The Vanguard Group, Inc. | 0.26% | 0.25% | 0.51% | 11.70% | 7.18% | 7.29% | ||||||||||||||||
| Taxable Bond | Vanguard VIF - Total Bond Market Index Portfolio The Vanguard Group, Inc. | 0.14% | 0.25% | 0.39% | (5.58)% | 1.04% | 1.71% | ||||||||||||||||
| U.S. Equity | Vanguard VIF - Total Stock Market Index Portfolio The Vanguard Group, Inc. | 0.13% | 0.25% | 0.38% | 25.95% | 14.93% | 11.29% | ||||||||||||||||