Why it earned this rating
Our assessment
Select Pro 3 is the more flexible alternative in Symetra's MYGA lineup. The 15% annual free withdrawal is meaningfully more generous than Select Max 3's interest-only allowance. Buyers who value that flexibility get it at a small rate cost. The product is a clean 3-year fixed-rate annuity with no surprises.
The short version
If you want a 3-year MYGA but you also want full 15% account-value liquidity each year, Select Pro 3 is the right Symetra option. The rate is slightly lower than Select Max 3, but the flexibility difference is real.
Key facts
**Product Type** Multi-Year Guaranteed Annuity (single premium)
**Issue Ages** 0–85
**Minimum Premium** $10,000
**Surrender Period** 3 years (8, 8, 7, 0%)
**Free Withdrawal** 15% of account value, available immediately
**Crediting** Single fixed rate guaranteed for 3 years
**Income Rider** Not available
**Market Value Adjustment** No (no MVA listed; check state)
The full review
Is Symetra Select Pro 3 a Good Annuity?
Yes, for the right buyer. It is a good fit for someone who wants a 3-year guaranteed rate and values 15% annual access to account value. It is less appealing for buyers who want the highest possible rate (Select Max 3 wins there) or who want indexed upside.
Why Someone Would Buy This Annuity
The main reason is short-term principal protection with meaningful liquidity. The secondary reason is the 3-year time horizon — short enough to be flexible, long enough for the rate guarantee to be useful. Buyers who anticipate needing access to a percentage of their balance each year benefit specifically from the Select Pro structure.
Who This Annuity Is Best For
I think Select Pro 3 fits best for someone who wants a CD alternative but expects to take periodic withdrawals during the 3-year term. The 15% annual free withdrawal makes that workable without triggering surrender charges, which is unusual for shorter MYGAs.
What You're Really Buying Here
You are buying a tax-deferred fixed-rate annuity with a 3-year guarantee and meaningful liquidity. You are not buying market exposure. The trade is a slightly lower rate in exchange for the larger free withdrawal allowance.
How the Core Feature Works
Select Pro 3 credits a fixed rate guaranteed for the full 3-year surrender period. The rate is banded — 4.30% at the low band and at $50,000, 4.50% at $100,000, and 4.55% at $250,000+. There is no indexed crediting and no rider option.
Why the Secondary Feature Matters
The 15% account-value free withdrawal is the meaningful structural feature. Most short-duration MYGAs offer only interest-only free withdrawals, which is fine for buyers committed to leaving the money alone but restrictive for buyers who want flexibility. Select Pro 3 trades a small rate concession for that flexibility.
Liquidity and Surrender Schedule
Free withdrawals of up to 15% of account value are available immediately. Surrender charges run 8, 8, 7, then 0 percent over three years. Nursing home, terminal illness, and hospital waivers may apply.
Fees and Tradeoffs
There are no annual contract fees or rider charges. The trade is the rate cost — typically 15 to 25 basis points lower than Select Max 3 at the same band. Over a 3-year holding, that is a meaningful difference if buyers do not actually use the free withdrawal allowance.
Product snapshot
| Feature | Details |
| --- | --- |
| Product type | Multi-year guaranteed annuity |
| Issue ages | 0–85 |
| Minimum premium | $10,000 |
| Surrender schedule | 8, 8, 7, 0% |
| Market value adjustment | No |
| Current fixed rate | 4.30% / 4.30% / 4.50% / 4.55% (low / $50K / $100K / $250K+) |
| Rate guarantee period | 3 years |
| Income rider | Not available |
| Death benefit | Greater of full account value or minimum guaranteed surrender value |
| Surrender waivers | Nursing home, terminal illness, hospital |
| MGSV | 87.5% at 1–3% |
| State availability | Not available in New York; California variation |
Carrier snapshot
Symetra Life Insurance Company is part of Symetra Financial. The carrier holds an A rating from A.M. Best and an A from Standard and Poor's. Symetra distributes through banks, full-service broker-dealers, independent broker-dealers, and the independent agent channel.
Final take
Select Pro 3 is the flexibility-oriented 3-year MYGA in Symetra's lineup. The 15% free withdrawal is the structural advantage; the slightly lower rate versus Select Max 3 is the cost. Buyers who actually plan to use the free withdrawal allowance get the better deal here.
- Death Benefit
- Greater of the full Account Value (not reduced by any withdrawal charges) or the Minimum Guaranteed Surrender Value.
- Minimum Guaranteed Surrender Value
- 87.5% of premiums accumulated at 1%-3% guaranteed annual interest (exact rate within the range varies by state), per Wink's Minimum Guarantee/Minimum Guaranteed Surrender Value field.
- RMD Treatment
- RMD-friendly: surrender charges waived on IRS required minimum distributions.
- Withdrawal Provisions
- For IRA-held contracts subject to RMDs, amounts up to the annual required minimum distribution may be withdrawn free of withdrawal charges after the 'required beginning date,' in addition to the standard 15% free annual withdrawal. Surrender charge waivers also available: Nursing Home/Hospitalization waiver (waives charges after 30 consecutive days of confinement, distribution can be requested up to 90 days after leaving the facility; one-year wait applies if already confined on the contract's first day; not available in all states) and Terminal Illness waiver (available after the first contract year if diagnosed with a terminal illness and not expected to live more than 12 months; not available in all states). An optional Guaranteed Return of Purchase Payment (GROPP) endorsement (NY form RSE-0149/NY 7/21) is available, which guarantees return of purchase payments minus prior withdrawals and raises the maximum issue age to 90; not selected by default and not reflected in the base MGSV figure above.