Why it earned this rating
Our assessment
Select Pro 3 with Return of Premium is the standard Select Pro 3 with an automatic Return of Premium rider that guarantees buyers can never receive less than the premium paid. The rider is included at no additional charge, but Symetra recovers the cost through a slightly lower credited rate. For buyers who want belt-and-suspenders protection, the trade can be worth it.
The short version
If you want the structural protection of knowing your contract value cannot drop below premium paid (typically a concern only when MVA is severe or when a buyer is anxious about rate risk), this is the right Select Pro 3 variant. The rate concession is real but small.
Key facts
**Product Type** Multi-Year Guaranteed Annuity (single premium)
**Issue Ages** 0–90 (broader than the standard Select Pro 3)
**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
**Return of Premium Rider** Automatically included at no additional charge
The full review
Is Symetra Select Pro 3 with Return of Premium a Good Annuity?
Yes, for the right buyer. It is a good fit for someone who wants a 3-year guaranteed rate, the 15% annual liquidity, and the additional protection of knowing their surrender value cannot fall below premium paid. It is less appealing for buyers who want the absolute highest rate (Select Max 3 wins there) or who value pure simplicity.
Why Someone Would Buy This Annuity
The main reason is short-term principal protection with belt-and-suspenders coverage. The secondary reason is the broader issue age range — up to age 90 versus 85 on the standard Select Pro 3 — which makes the product accessible to older buyers. The 15% free withdrawal continues throughout the term.
Who This Annuity Is Best For
I think this product fits best for an older buyer (above age 70) who wants principal protection but is concerned about the MVA in the standard Select Pro 3. The Return of Premium rider provides a hard floor that some buyers value highly. The product is also useful for risk-averse buyers who want to avoid any scenario where they could surrender for less than premium paid.
What You're Really Buying Here
You are buying a tax-deferred fixed-rate annuity with a 3-year rate guarantee, meaningful liquidity, and a guarantee that your surrender value cannot fall below total premium paid. You are not buying market exposure.
How the Core Feature Works
Select Pro 3 with Return of Premium credits a fixed rate guaranteed for the full 3-year surrender period. The rate is banded — 4.20% at the low band, 4.20% at $50,000, 4.40% at $100,000, and 4.45% at $250,000+. The Return of Premium rider is automatically included with all contracts at no additional charge, providing a contractual guarantee that the surrender value cannot fall below premium paid.
Why the Secondary Feature Matters
The Return of Premium rider matters because it provides a hard floor on contract value. Without it, buyers could theoretically surrender for less than premium paid (in the early years of the contract). With it, that scenario is contractually impossible. For risk-averse buyers, this is a real psychological and contractual benefit.
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
The Return of Premium rider is automatically included at no additional charge, but Symetra recovers the cost through a 10 basis point reduction in the credited rate at every band. The trade is small but real. There are no other annual contract fees or rider charges.
Product snapshot
| Feature | Details |
| --- | --- |
| Product type | Multi-year guaranteed annuity with ROP rider |
| Issue ages | 0–90 |
| Minimum premium | $10,000 |
| Surrender schedule | 8, 8, 7, 0% |
| Free withdrawal | 15% of account value immediately |
| Current fixed rate | 4.20% / 4.20% / 4.40% / 4.45% (low / $50K / $100K / $250K+) |
| Rate guarantee period | 3 years |
| Return of Premium | Automatically included at no additional charge |
| 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 with Return of Premium is the most conservative variant in Symetra's 3-year MYGA lineup. The Return of Premium rider gives buyers a hard floor on surrender value, which can matter to risk-averse or older buyers. The 10 basis point rate concession is the real cost of that guarantee. For most buyers, the standard Select Pro 3 is more efficient; for buyers who specifically value the ROP guarantee, this version delivers it.