Why it earned this rating
Our assessment
Select Pro 5 with Return of Premium adds an automatic ROP rider to the standard Select Pro 5 structure, giving buyers a contractual guarantee that surrender value cannot fall below premium paid. The 15 basis point rate concession is the real cost of that protection. For older buyers or risk-averse buyers, the trade can be worthwhile.
The short version
If you want a 5-year MYGA with structural belt-and-suspenders protection (your surrender value cannot fall below premium paid), this is the right Select Pro 5 variant. The 15 basis point rate concession over the standard Select Pro 5 is real but small.
Key facts
**Product Type** Multi-Year Guaranteed Annuity (single premium)
**Issue Ages** 0–90 (broader than the standard Select Pro 5)
**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
**Return of Premium Rider** Automatically included at no additional charge
The full review
Is Symetra Select Pro 5 with Return of Premium a Good Annuity?
Yes, for the right buyer. It is a good fit for someone who wants a 5-year guaranteed rate, the 15% annual liquidity, and the structural protection of a Return of Premium rider. It is less appealing for buyers who want the absolute highest rate or who do not need the ROP guarantee.
Why Someone Would Buy This Annuity
The main reason is mid-term principal protection with the additional safety net of an ROP rider. The secondary reason is the broader issue age range, up to age 90, which is uncommon for 5-year MYGAs. The 15% account-value free withdrawal continues throughout the surrender period.
Who This Annuity Is Best For
I think this product fits best for an older buyer (typically above age 70) who wants principal protection over a 5-year horizon and is concerned about contract value falling below premium paid. The ROP rider provides a hard floor that some buyers value highly. The product also fits risk-averse buyers who want certainty across the full surrender period.
What You're Really Buying Here
You are buying a tax-deferred fixed-rate annuity with a 5-year rate guarantee, meaningful liquidity, and an automatic guarantee that surrender value cannot fall below premium paid. You are not buying market exposure.
How the Core Feature Works
Select Pro 5 with Return of Premium credits a fixed rate guaranteed for the full 5-year surrender period. The rate is banded — 4.55% at the low band, 4.55% at $50,000, 4.75% at $100,000, and 4.75% at $250,000+. The Return of Premium rider is automatically included with all contracts at no additional charge.
Why the Secondary Feature Matters
The Return of Premium rider matters because it caps the buyer's downside at total premium paid. Without it, buyers could surrender for less than premium paid early in the contract. With it, that scenario is contractually impossible. For older buyers or buyers concerned about needing access early, this is a real benefit.
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
The Return of Premium rider is automatically included at no additional charge, but Symetra recovers the cost through a 15 basis point reduction in the credited rate. The trade is real and slightly larger than on the 3-year version. 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, 6, 5, 0% |
| Free withdrawal | 15% of account value immediately |
| Current fixed rate | 4.55% / 4.55% / 4.75% / 4.75% (low / $50K / $100K / $250K+) |
| Rate guarantee period | 5 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 5 with Return of Premium is a thoughtful 5-year MYGA for risk-averse and older buyers who want structural certainty. The 15 basis point rate concession over the standard Select Pro 5 is the real cost of the ROP guarantee. For buyers who specifically want that protection, the product delivers it cleanly.