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Symetra National Health Insurance Company

A search for Symetra National Health Insurance Company leads to First Symetra National Life Insurance Company of New York. The company offers life insurance, retirement plans, and annuities to individuals. In addition, they also offer medical stop loss services and retirement plans to companies to provide to employees.

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First Symetra is a part of Symetra Financial, a parent company that was named one of the 2011 50 top performing life and health insurance companies in the United States by the Ward Group. The Ward Group is a company that researches best practices and standards for the insurance industry. Every year they name 50 companies in the US that are at the top of the industry for superior performance over a five-year period.

First Symetra History

Symetra Financial started in 1957. The company continued to grow and expand, reaching $1 billion in assets in 1984. First Symetra National Life Insurance Company of New York was started in 1987 as a way for Symetra Financial to provide insurance to New York, helping the company to reach $10 billion in assets 11 years later.

First Symetra Products

First Symetra offers insurance products to individuals and companies in New York.

Life insurance for individuals includes term life insurance, whole life insurance, universal life insurance and Symetra successor single premium life insurance; this insurance allows for tax free money to be passed on to your beneficiaries. Annuities are also available to individuals.

Companies can purchase retirement plans for employees to participate in and medical stop loss insurance to protect companies that self-fund medical insurance. Both specific and aggregate stop-loss insurance is available to protect a company against calamitous claims that exceed a company’s budgeted amount.

First Symetra also has retirement plans for individuals and families. Individual Retirement Plans, or IRAs, can be used to start saving for retirement or to supplement other retirement plans; the company offers both traditional and ROTH IRAs. For businesses, they offer 401(k)s and various annuities.

First Symetra Ratings

First Symetra has an excellent track record according to the most respected insurance credit rating agencies. The rating agencies track financial and insurance companies to rate a company’s credit and ability to survive in a global market; every company that rated First Symetra highly are a Nationally Recognized Statistical Rating Organization (NRSRO) by the U.S. Securities and Exchange Commission (SEC).

A.M. Best rated the company an A, or Excellent, in October 2010. The rating shows that the company is financially stable enough to continue to support its fiscal responsibilities in the near future; the company could withstand undesirable underwriting and economic conditions, according to A.M. Best.

Standard and Poor’s, a leading business assessment agency in both creditworthiness and financial strength, rated first Symetra an A in 2011. It equates to a rating of Strong, showing that the company’s financial outlook is stable.

Fitch Ratings, another rating company, gave First Symetra an A+, or Strong, rating in 2011. According to Fitch Ratings, the company is making sound financial investments, acquisitions, and determinations that will keep it afloat even in a stormy economy.

The Better Business Bureau, a consumer watchdog group that creates a venue for clients to dispute complaints with a company, also gave high ratings to the Symetra Financial group of companies. The BBB rated Symetra Financial, the parent company of First Symetra, as an A+, the highest ranking given, citing the two resolved complaints filed against the company in the last two years.

First Symetra Careers

A career at First Symetra is one that is full of benefits and perks. The company prides itself on employee relations and making a fun atmosphere in the workplace a priority. The benefits include:

  • 401(k) matching
  • Comprehensive benefits
  • Wellness program
  • Ability to give back to the community through charitable company initiatives

A job search can be done on the parent company’s website.

Contact First Symetra

While the offices of the company are in New York City, correspondence should be mailed to the parent company of Symetra Financial at:

777 108 Ave NE, Suite 1200
Bellevue, WA 98004

Customer service and the claims department can be reached by calling 1-800-SYMETRA (796-3872). Business hours are Monday through Friday from 9:00 a.m. to 7:30 p.m., Eastern Standard Time.

There is also a fill-in form on the website that can be filled out and sent electronically to inquire about annuities, life insurance, IRAs and many other topics. An anonymous fraud or ethics alert number is also listed as 1-888-280-0567.

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