A life insurer is offering income annuity holders easier access to the assets inside contracts.

Symetra Life Insurance Company, Bellevue, Wash., says its new Advance Access program will give clients the ability to get lump-sum payments of up to 30% of the present value of future annuity payments without paying surrender penalties.

Once an annuity holder takes a lump-sum payment, the future payments will depend on the remaining balance, Symetra says.

Annuity holders can ask for lump-sum payments as often as every 36 months, but contracts must be in-force at least 3 years before holders can exercise the feature.

The minimum lump-sum advance is $5,000, Symetra says.