Why it earned this rating
Our assessment
Select Pro 7 offers a 4.95% guaranteed rate at the $100,000+ band combined with 15% annual account-value liquidity. The rate is competitive but the small uplift over Select Pro 5 makes the 7-year version mainly attractive when a buyer specifically wants the longer commitment. Symetra's A rating and broad distribution make the product accessible across most channels.
The short version
If you want a 7-year MYGA at 4.95% from an A-rated carrier with full 15% annual liquidity, Select Pro 7 delivers. The rate uplift over the 5-year version is modest, so the 7-year is most useful when a buyer specifically wants the longer commitment.
Key facts
**Product Type** Multi-Year Guaranteed Annuity (single premium)
**Issue Ages** 0–85
**Minimum Premium** $10,000
**Surrender Period** 7 years (8, 8, 7, 6, 5, 4, 3, 0%)
**Free Withdrawal** 15% of account value, available immediately
**Crediting** Single fixed rate guaranteed for 7 years
**Income Rider** Not available
**Market Value Adjustment** No (no MVA listed; check state)
The full review
Is Symetra Select Pro 7 a Good Annuity?
Yes, for the right buyer. It is a good fit for someone who wants a 7-year guaranteed rate and values annual 15% account-value liquidity. It is less appealing for buyers who want the highest possible rate (Select Max 7) or who do not need the longer commitment.
Why Someone Would Buy This Annuity
The main reason is long-term principal protection with flexible liquidity. The secondary reason is the 7-year time horizon, which lets buyers lock in a competitive rate over a longer window. The 15% free withdrawal continues throughout the surrender period.
Who This Annuity Is Best For
I think Select Pro 7 fits best for someone in their 50s through early 70s who wants a defined 7-year holding for fixed-income assets and expects to take periodic withdrawals during the term. It is also useful for buyers matching the contract to a defined retirement-income target date.
What You're Really Buying Here
You are buying a tax-deferred fixed-rate annuity with a 7-year rate guarantee and meaningful liquidity. You are not buying market exposure or indexed crediting.
How the Core Feature Works
Select Pro 7 credits a fixed rate guaranteed for the full 7-year surrender period. The rate is banded — 4.75% at the low band, 4.75% at $50,000, 4.95% at $100,000, and 4.95% 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 structural feature that makes this product different from Select Max 7. Buyers who anticipate needing annual access to a meaningful share of their balance get a workable fixed-rate vehicle. The 10 basis point rate concession versus Select Max 7 is the cost.
Liquidity and Surrender Schedule
Free withdrawals of up to 15% of account value are available immediately. Surrender charges run 8, 8, 7, 6, 5, 4, 3, then 0 percent over seven 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 7 (about 10 basis points at the $100,000 band) and the small rate uplift over Select Pro 5 (about 5 basis points at the same band).
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, 4, 3, 0% |
| Market value adjustment | No |
| Free withdrawal | 15% of account value immediately |
| Current fixed rate | 4.75% / 4.75% / 4.95% / 4.95% (low / $50K / $100K / $250K+) |
| Rate guarantee period | 7 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 7 is a flexible 7-year MYGA from an A-rated carrier. The 4.95% rate at the $100,000+ band is competitive, and the 15% annual account-value free withdrawal is a real differentiator. The small rate uplift over Select Pro 5 means the 7-year version is mainly useful when a buyer specifically wants the longer commitment.