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Eclipse Accumulator IUL

Protect and fund your clients’ future at the same time

Eclipse Accumulator 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 some of the lowest policy charges in the industry1, Eclipse Accumulator goes back to basics offering your clients an accumulation IUL they can depend on.

Product details

Issue Ages: 0-80 based on “age nearest” birthday

Minimum face amount: $50,000 (ages 0-17); $100,000 (ages 18+)

Death benefit options: Level or increasing

Indexed account options:

  • S&P 500®I,2 with 100% participation
  • S&P 500 Low Volatility2, uncapped3
  • EURO STOXX 50®4 with 100% participation
  • Rainbow Indexed Account 1 with 100% participation5

Index crediting method: Annual point to point

Surrender charge: Applies for the first 10 years after issue or face amount increase

Minimum guaranteed interest rates: 2% at time of death, policy termination or surrender

Fixed interest rate loans 6,7:

  • Loan charge rate: 4%
  • Loan crediting rate: 3% in years 1-10; 4% in years 11+

Variable interest rate loans7,8:

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

Indexed Loans7:

  • 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 loans9: Available after the first policy anniversary; interest will not be charged if entire loan is repaid within 90 days

Optional 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

1. Securian Financial competitive research, November 2019

2. The "S&P 500 Index" and "S&P Low Volatility Index" are products of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ("SPDJI") and, and have been licensed for use by Minnesota Life Insurance Company (Minnesota Life). 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. Indexed Universal Life Insurance Policy Series is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index or the S&P Low Volatility Index.

3. Uncapped indexed account participation rates are subject to change and may be less than 100%. This could have the impact of the indexed account credit being less than the change in the reference index.

4. 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.

5. 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.

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

7. Only one loan rate type available at one time; may switch between loans once per year.

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

9. 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.    

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. 

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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 charges. Policyholders could lose money in these products.

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.

All indexed accounts available with the Indexed Universal Life Series employ a point-to-point interest crediting method with one-year index segments – except where noted – established monthly. Interest credits for any index segment may range from a minimum (0% or 1%) up to the maximum (which may be unlimited for some accounts) for that segment. These policies guarantee that the total interest credited over the life of the policies will not be less than a 2.00% effective annual interest rate.

This information is a general discussion of the relevant federal tax laws provided to promote ideas that may benefit a taxpayer. It is not intended for, nor can it be used by any taxpayer for the purpose of avoiding federal tax penalties. Taxpayers should seek the advice of their own advisors regarding any tax and legal issues specific to their situation.

Insurance policy guarantees are subject to the claims-paying ability of the issuing life insurance company.

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

DOFU 12-2019
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