Symetra Swift Term Platform

Symetra Swift Term Platform — There are many instant offer/instant issue term platforms out in the marketplace today.  So, what makes Symetra Swift Term unique?

With its Gartner Eye on Innovation (2021) award winning algorithmic underwriting platform, Swift term can handle 3 tracks of underwriting risk. 

We can instantly bind and deliver a policy within minutes for qualified candidates!  With our process, there is no telephone interview required, or the need to have an agent fill out replacement forms, or deliver the policy to the client (it’s all digital and automatic).  The quickest application to policy delivery took only 10 minutes!  For those applicants that don’t qualify for instantly bound coverage, we have the ability to provide an accelerated underwriting process that will issue within 2-3 days (without a phone interview or blood/urine).  Lastly, we have the ability to fully underwrite the contract by using traditional paramed and APS requirements (including table rated risks).  Swift Term is not an Accept or Reject platform, and applicants maintain our ultra-competitive SwiftTerm pricing no matter which underwriting track (instant/accelerated/fully underwritten) they fall into.  This is unique, because you are not creating an MIB footprint for the insured by switching products.

The Symetra SwiftTerm product is renewable after the level term period is over.

If the client needs coverage after the level term period is up, they have the ability to continue to pay annual renewable rates and keep their coverage inforce (this is not a feature of many of the instant term offerings out there in the marketplace).

Symetra SwiftTerm is a Convertible Product!

SwiftTerm policy holders have the ability to convert their SwiftTerm contract into permanent insurance within the first 10 years of the policy (or through the policy anniversary after the insured turns age 70, whichever comes first).  Moreover, as long as the insured was rated standard or better on the SwiftTerm product, the standard Chronic Illness Rider is automatically included on the permanent policy at conversion without additional underwriting.  Many of the instant issue offerings out in the marketplace are not convertible (much less convertible with the ability to include a living benefit rider).

Applicants that are issued through SwiftTerm may have the ability to purchase additional permanent death benefit without additional underwriting requirements.

This is unique in the instant issue marketplace and Symetra just launched the extra coverage program earlier this month.  Recent SwiftTerm applicants have the ability to purchase up to a maximum of 1M DB from our league leading permanent product suite.  For your reference, I have attached a flyer on this unique program.