ST. PAUL, Minn.--(BUSINESS WIRE)--Securian Financial has launched an easy-to-understand indexed universal life (IUL) insurance product without the complications of multipliers and additional fees.
Eclipse Accumulator IUL, issued by Minnesota Life Insurance Company, is an accumulation-focused policy for clients seeking—in addition to a death benefit—supplemental income for retirement funding, college funding or non-qualified deferred compensation.
Its straightforward design makes Eclipse Accumulator stand apart from many recent IUL product introductions. Eclipse Accumulator’s low charges allow for strong accumulation potential and more resiliency in times of market volatility.
“Eclipse Accumulator focuses on accumulation, not complexity,” said Ben Roth, Securian Financial vice president for retail product distribution.
High fee, large multiplier products have a fundamentally different risk-reward profile than traditional IUL products like Eclipse Accumulator.
“Consumers and financial professionals alike prefer simple, transparent and low-cost products,” said Roth.
Eclipse Accumulator product highlights include:
- Straightforward, traditional IUL product design with some of the lowest charges in the industry
- Resiliency—low charges allow for strong crediting in a variety of market conditions
- Four diverse indexed account options including uncapped accumulation potential and a set-it-and-forget-it indexed account option
- Four loan options (a first among carriers), including fixed, indexed, variable and short-term (90 days interest free
- Numerous optional agreements, including a unique, no-cost “Income Protection Flex Agreement”—an irrevocable settlement option that pays part or all the death proceeds as a monthly or annual benefit for a specified number of years (10-30 years).
New protection-focused product
Coinciding with the launch of Eclipse Accumulator, Securian Financial has also introduced a new protection-focused IUL product with a straightforward design: Eclipse Protector II, issued by Minnesota Life Insurance Company. Highlights include premiums four to eight percent lower than the original Eclipse Protector IUL product and lifetime protection up to age 120 based on how much premium clients want to pay.
Eclipse Accumulator and Eclipse Protector II are available to all Securian Financial-approved distribution channels.
About Securian Financial
At Securian Financial, we’re here for family. And we’re here because of it. We’re guided by our purpose: helping customers build secure tomorrows. Since 1880, we’ve been building a uniquely diversified company that has outlasted economic ups and downs while staying true to our customers. We’re committed to the markets we serve, providing insurance, investment and retirement solutions that give families the confidence to focus on what’s truly valuable: banking memories with those who matter most.