Why it earned this rating
Our assessment
Select Pro 5 is a clean 5-year MYGA with the more flexible free withdrawal structure. The rate is competitive and the 15% annual account-value free withdrawal is unusual for a 5-year fixed-rate product. The trade against Select Max 5 is a 10 basis point rate concession in exchange for substantially more liquidity.
The short version
If you want a 5-year MYGA at 4.90% from an A-rated carrier with full 15% annual liquidity, this is the right Symetra option. Buyers who do not need that liquidity get a slightly higher rate from Select Max 5.
Key facts
**Product Type** Multi-Year Guaranteed Annuity (single premium)
**Issue Ages** 0–85
**Minimum Premium** $10,000
**Surrender Period** 5 years (8, 8, 7, 6, 5, 0%)
**Free Withdrawal** 15% of account value, available immediately
**Crediting** Single fixed rate guaranteed for 5 years
**Income Rider** Not available
**Market Value Adjustment** No (no MVA listed; check state)
The full review
Is Symetra Select Pro 5 a Good Annuity?
Yes, for the right buyer. It is a good fit for someone who wants a 5-year guaranteed rate and values annual 15% account-value liquidity. It is less appealing for buyers who want the highest possible rate (Select Max 5) or indexed upside.
Why Someone Would Buy This Annuity
The main reason is mid-term principal protection with flexible liquidity. The secondary reason is the longer 5-year guarantee period, which lets buyers lock in a competitive rate during a window when rates are uncertain. The 15% free withdrawal is meaningful for buyers who anticipate periodic withdrawals.
Who This Annuity Is Best For
I think Select Pro 5 fits best for someone in their 50s through early 70s who wants a defined 5-year holding for fixed-income assets but expects to take periodic withdrawals. The structure is also useful for buyers using the contract as a CD alternative within a broader retirement plan.
What You're Really Buying Here
You are buying a tax-deferred fixed-rate annuity with a 5-year rate guarantee and meaningful liquidity. You are not buying market exposure or indexed crediting.
How the Core Feature Works
Select Pro 5 credits a fixed rate guaranteed for the full 5-year surrender period. The rate is banded — 4.70% at the low band, 4.70% at $50,000, 4.90% at $100,000, and 4.90% at $250,000+. There is no indexed crediting and no rider option. The 15% annual free withdrawal continues throughout the surrender period.
Why the Secondary Feature Matters
The 15% account-value free withdrawal is the meaningful structural feature. It lets buyers access a meaningful share of their balance each year without triggering surrender charges — a feature that is unusual at this duration in the MYGA market. The 10 basis point rate concession versus Select Max 5 is the cost of that flexibility.
Liquidity and Surrender Schedule
Free withdrawals of up to 15% of account value are available immediately. Surrender charges run 8, 8, 7, 6, 5, then 0 percent over five years. Nursing home, terminal illness, and hospital waivers may apply.
Fees and Tradeoffs
There are no annual contract fees or rider fees. The trade is the rate cost relative to Select Max 5 — about 10 basis points at the $100,000 band. Over five years, that is a real difference for buyers who 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, 6, 5, 0% |
| Market value adjustment | No |
| Current fixed rate | 4.70% / 4.70% / 4.90% / 4.90% (low / $50K / $100K / $250K+) |
| Rate guarantee period | 5 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 5 is a flexible 5-year MYGA from an A-rated carrier. The 4.90% guaranteed rate at the $100,000+ band is competitive, and the 15% annual account-value free withdrawal is a real differentiator. For buyers who want a CD-style commitment with real liquidity, this is the better Symetra option than Select Max 5.
- 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.