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Eclipse Accumulator

Indexed Universal Life (IUL)

Help protect and fund your clients’ future at the same time

Eclipse Accumulator IUL is a single-life accumulation focused indexed universal life (IUL) policy that was built with transparency in mind. Resilient in times of market volatility due to its charge structure, Eclipse Accumulator goes back to basics by offering your clients an accumulation IUL they can depend on.

Why choose Eclipse Accumulator?

Simplified design

Simple and easy to understand with transparent charges and a set-it and forget-it indexed account option.

Resilient to market volatility

Cost structure allows the ability to weather zero crediting years in times of market volatility.

Contactless WriteFit Underwriting™

Provide an easy client experience with fast underwriting decisions and no need for medical exams or blood tests for eligible clients.

Customizable for maximum flexibility

Capped and uncapped indexed account options along with optional agreements let you customize the policy for clients.

Simplified design

Transparency and simplicity all-in-one

Yes, that’s right. We went back to basics by making Eclipse Accumulator more consumer friendly and easier to understand compared to other IUL products. With transparent charges and five diverse indexed account options, you can feel comfortable selling your client a product that has the simplicity and flexibility they are looking for.

Resilient to market volatility

A policy that can weather the ups and downs

Are there times when market volatility can change your clients’ plans? Eclipse Accumulator’s cost structure can help weather zero crediting years in times of market volatility. So your clients’ retirement income is there when they need it.

Contactless WriteFit Underwriting™

Fast underwriting for an improved client experience

Our WriteFit Underwriting program uses tools and techniques that predict relative mortality based on a number of behaviors. With WriteFit, there is no need for medical exams or blood tests. Instead, clients participate in a phone interview. The policy is issued within 24 hours of completion of the interview for clients who qualify.

Learn more about WriteFit UnderwritingTM

Customizable for maximum flexibility

Protect and diversify assets

Clients can choose from a fixed account or several indexed account options that give them growth potential with protection from negative market performance since the interest credited can never be less than zero. Crediting within the indexed accounts is based on the performance of different investment indices.

Indexed accounts Crediting method Ideal client
S&P 500®
(Indexed Account A)
Credits based on the performance of the 500 largest publicly traded U.S. companies Desires index crediting that references the S&P 500®
EURO STOXX 50®
(Indexed Account F)
Based on the performance of the 50 largest publicly traded European companies Desires index crediting that references the Euro STOXX 50® Index
S&P 500® Low Volatility
(Indexed Account G)
Credits based on changes in value for the 100 least volatile stocks in the S&P 500® Index Desires uncapped upside potential and is looking to take advantage of swings in the underlying index
Rainbow Indexed Account1 Combines weighted percentages of S&P 500®, EURO STOXX 50® and S&P 500 Low Volatility Index based on performance of the reference indices using 50 percent of the highest performing account, 30 percent from the second highest and 20 percent from the third. Desires a set-it-and-forget-it indexing strategy based on performance of the reference indices
S&P PRISMSM, (Indexed Account O) A broadly diversified index drawing from a mix of asset classes including Equities, Bonds, Commodities and Cash. This dynamic index reallocates daily - taking into account market indicators, risk and momentum. Desires a strategy that offers diversified asset classes and daily rebalancing designed to provide consistent growth through changing environments

Eclipse Accumulator IUL product details

Policy type

Flexible premium indexed universal life with a focus on accumulation

Issue ages

0–80 based on age at nearest birthday

Minimum face

$50,000 (ages 0–17); $100,000 (ages 18+)

Death benefit options

Level or increasing

Indexed account options

  • S&P 500® with 100% participation
  • S&P 500® Low Volatility, uncapped
  • EURO STOXX 50® with 100% participation
  • Rainbow Indexed Account1 with 100% participation
  • S&P PRISMSM, uncapped2

Issue classes

Preferred Select, Preferred Non-Tobacco, Non-Tobacco Plus, Standard Non-Tobacco, Preferred Tobacco, Standard Tobacco, Special Risk

Surrender charge

Applies to the first 10 years after issue or face amount increase

Minimum guaranteed interest rate

Contract minimum interest rate is 2% cumulative average upon death or termination of contract (less surrender charges and withdrawals)

Loans

Fixed interest rate loans:

  • Charge rate: 4%
  • Crediting rate: 3% in years 1–10, 4% in years 11+

Variable interest rate loans (only available on money within fixed indexed account options):

  • Charge rate: Varies based on Moody’s Corporate Bond Yield Average (3% minimum)
  • Crediting rate: Directly tied to performance of clients’ fixed indexed account allocations
  • Available after year 1; net variable loan cost could be positive or negative

Indexed Loans

  • Loan charge rate: 5%
  • Loan crediting rate: Directly tied to performance of the indexed loan account
  • Available after year 1; net indexed loan cost could be positive or negative

Short-term loans

Available after the first policy anniversary; interest will not be charged if entire loan is repaid within 90 days

Agreements

See available agreements

Agreements

  • Accelerated Death Benefit for Chronic Illness Agreement
  • Accelerated Death Benefit for Terminal Illness Agreement
  • Chronic Illness Access Agreement
  • Early Values Agreement
  • Exchange of Insureds Agreement
  • Guaranteed Insurability Option Agreement
  • Income Protection Flex Agreement
  • Inflation Agreement
  • Overloan Protection Agreement
  • Premium Deposit Account Agreement
  • Surrender Value Enhancement Agreement
  • Term Insurance Agreement
  • Waiver of Premium Agreement

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1. Rainbow Indexed Account 1 is made up of the following indexes: S&P 500®, Euro STOXX 50®, and S&P 500® Low Volatility. The segment growth rate is equal to the weighted average of the index growth rates for each reference index. On the index credit date, the index growth rate for each reference index is ranked from highest to lowest and the applicable rank weight applied, using 50% of the highest performing account, 30% from the second highest and 20% from the third.

2. Cap and other parameters may change for each segment. For current rate, please log into our Financial Professional site.

Additional agreements may be available. Agreements may be subject to additional costs and restrictions. Agreements may not be available in all states or may exist under a different name in various states and may not be available in combination with other agreements.

The Accelerated Death Benefit for Chronic Illness Agreement and Chronic Illness Access Agreements may not cover all of the costs associated with chronic illness. The Agreements are generally not subject to health insurance requirements and do not provide long-term care insurance subject to state long-term care insurance law. These Agreements are not state-approved Partnership for Long Term Care Program Agreements and are not Medicare supplement policies. Receipt of chronic illness benefit payments under these agreements may adversely affect eligibility for Medicaid or other government benefits or entitlements.

The Accelerated Death Benefit for Chronic Illness Agreement and Chronic Illness Access Agreements are life insurance policy agreements that provide an option to accelerate the death benefit in the event that the insured becomes chronically ill.

The accumulation value, surrender value, loan value, death benefit, and death proceeds may be reduced when a chronic illness benefit payment is made under these agreements. The death proceeds may be reduced by the accelerated death benefit amount.

Due to uncertainty in the tax law, chronic illness benefits paid from a life insurance contract may be taxable. Please ensure that your clients consult a tax advisor regarding chronic illness care benefit payments from a life insurance contract.

A fixed interest rate loan will begin a 12-month lockout period during which no transfers from the fixed account to an indexed account will apply.

Because of the risk involved to the client with variable interest rate loans, use caution when illustrating or discussing variable rate loans.

The short-term loan provision provides for interest waiver if the loan is paid in full within 90 days of the date the loan was taken. In the event the policyholder does not repay the loan in full within 90 days, interest and other policy loan provisions will apply as of the date the loan was taken. Additional restrictions may apply.

Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.

Life insurance products contain fees, such as mortality and expense charges (which may increase over time), and may contain restrictions, such as surrender periods. Policyholders could lose money in this product.

Policy loans and withdrawals may create an adverse tax result in the event of lapse or policy surrender and will reduce both the surrender value and death benefit. Withdrawals may be subject to taxation within the first fifteen years of the contract. Clients should consult their tax advisor when considering taking a policy loan or withdrawal.

The Income Protection Agreement is an optional agreement in Nebraska.

The Income Protection Agreement and Income Protection Flex Agreement provide for an irrevocable settlement for all or a portion of the policy death proceeds. Changes to this election may not be allowed while the policy is in force and the insured is alive. The beneficiary of the policy will not be able to change the manner in which the death proceeds are paid out upon the death of the insured.

The tax treatment of the Overloan Protection Agreement is uncertain, and it is not clear whether the Overloan Protection Agreement will be effective to prevent taxation of any outstanding loan balance as a distribution in those situations where Overloan Protection takes effect. Anyone contemplating exercise of the Policy's Overloan Protection Agreement should consult a tax advisor.

Surrender of policy in years one through three for policies with the Surrender Value Enhancement Agreement will result in proportionate charge-back on compensation.

The Waiver of Premium Agreement does not in any way replace the specific coverages provided in the policy.

The "S&P 500 Index",  "S&P PRISM Index" and "S&P 500 Low Volatility Index" are products of S&P Dow Jones Indices LLC or its affiliates ("SPDJI"), and have been licensed for use by Minnesota Life Insurance Company. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC, a division of S&P Global ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Minnesota Life Insurance Company ("Minnesota Life'). The Indexed Universal Life Insurance Policy Series ("the Policies") are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of the Policies or any member of the public regarding the advisability of investing in securities generally or in the Policies particularly or the ability of the S&P 500 Index, S&P PRISM Index or S&P 500 Low Volatility Index to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices only relationship to Minnesota Life with respect to the S&P 500 Index, S&P PRISM Index and S&P 500 Low Volatility Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500 Index and S&P 500 Low Volatility Index are determined, composed and calculated by S&P Dow Jones Indices without regard to Minnesota Life or the Policies. S&P Dow Jones Indices has no obligation to take the needs of Minnesota Life or the owners of the Policies into consideration in determining, composing or calculating the S&P 500 Index, S&P PRISM Index or S&P 500 Low Volatility Index. S&P Dow Jones Indices is not responsible for and has not participated in the determination of the prices, and amount of the Policies or the timing of the issuance or sale of the Policies or in the determination or calculation of the equation by which the Policies are to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of the Policies. There is no assurance that investment products based on the S&P 500 Index or the S&P 500 Low Volatility Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment advisor or tax advisor. A tax advisor should be consulted to evaluate the impact of any tax-exempt securities on portfolios and the tax consequences of making any particular investment decision. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

NEITHER S&P DOW JONES INDICES NOR THIRD PARTY LICENSOR GUARANTEES THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500 INDEX, S&P 500 LOW VOLATILITY INDEX, OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY MINNESOTA LIFE, OWNERS OF THE POLICIES, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500 INDEX, S&P 500 LOW VOLATILITY INDEX, OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND MINNESOTA LIFE, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

The EURO STOXX 50® is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland and/or its licensors ("Licensors"), which is used under license. The interest crediting for the Indexed Universal Life Series Policies based on the Index are in no way sponsored, endorsed, sold or promoted by STOXX and its Licensors and neither of the Licensors shall have any liability with respect thereto.

The information presented above is solely intended for use by financial professionals. Such information is not intended for public consumption or dissemination.

Policy form numbers: ICC19-20204, 19-20204 and any state variations; Accelerated Death Benefit for Chronic Illness Agreement: ICC16-20057, 16-20057 and any state variations; Accelerated Death Benefit for Terminal Illness Agreement: ICC16-20058, 16-20058 and any state variations; Chronic Illness Access Agreement: ICC16-20083, 16-20083 and any sate variations; Early Values Agreement: ICC19-20206, 19-20206 and any state variations; Exchange of Insureds Agreement: ICC18-20141, 18-20141 and any state variations; Guaranteed Insurability Option Agreement: ICC09-915, 09-915 and any state variations; Income Protection Flex Agreement: 16-20077 and any state variations; Inflation Agreement: ICC11-916, 11-916 and any state variations; Overloan Protection Agreement: ICC16-20081, 16-20081 and any state variations; Surrender Value Enhancement Agreement: ICC13-937, 13-937 and any state variations; Term Insurance Agreement: 06-944R, 06-944 and any state variations; Waiver of Premium Agreement: ICC15-20040, 15-20040 and any state variations.

Insurance products issued by Minnesota Life Insurance Company.

DOFU 4-2022
2091019