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Fixed immediate annuities

Income for today — and tomorrow

IncomeToday!® 2.0

IncomeToday! 2.0 is a single payment immediate annuity (SPIA) that can provide a guaranteed fixed income stream that can’t be outlived. IncomeToday! 2.0 offers flexibility through a feature called the Advance Withdrawal Benefit, which allows clients to take a one-time advance on a portion of their future income when a Period Certain income option is selected.

Maximum issue age 90 for either owner and/or annuitant (maximum varies by income option)
Purchase payment Minimum: $10,000
Subsequent: N/A
Maximum: $2 million without prior approval
Annuity income options

Period Certain:

  • Period Certain only of <5-30> years (based on availability)

Single Life Options:

  • Life only
  • Life with Period Certain of <5-30> years
  • Life with Cash Refund
  • Life with Installment Refund

Joint Life Options including choice of 100%, 66.67% or 50% to continue upon death of first individual:

  • Joint Life with <x%> to Survivor
  • Joint Life with Period Certain of <5-30> years and <x%> to Survivor*
  • Joint Life with Cash Refund (100% to Survivor)

*If first death occurs during the Period Certain, any reduction in income for the 50% and 66.67% options will not occur until after the Period Certain ends.

Income frequency Monthly, quarterly, semi-annual, annual
Advance Withdrawal Benefit Available with all period certain options, it provides one-time access to a portion of future income

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Not available in New York. Products are issued by Minnesota Life Insurance Company. Some products and optional features may not be available in all states and features may vary by state. Not all products, features and optional benefits are available from all selling firms or broker dealers.

Income payments and withdrawals from immediate annuities are generally taxable as ordinary income in the year in which taken. When purchased as part of an IRA or other qualified plan, the IRA or qualified plan already provides tax deferral of earnings and the annuity contract does not provide any additional tax deferred treatment of earnings. Withdrawals taken from a qualified plan prior to age 59 1/2 may incur a 10% federal tax penalty.

Keep in mind that the Annuity Income Option, Frequency and Payment Dates cannot be changed once elected. Availability of some Period Certain durations may be limited.

Not a deposit - Not FDIC/NCUA insured - Not insured by any federal government agency - Not guaranteed by any bank of credit union - May go down in value.

This information should not be considered as tax or legal advice. Clients should consult their tax or legal advisor regarding their own tax or legal situation.

Guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.

For financial professional use only. Not for use with the public. This material may not be reproduced in any form where it is accessible to the general public.

DOFU 1-2022