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Indexed loan agreement

The Indexed Loan Agreement (ILA) provides clients with another crediting option on policy loans. In addition to fixed interest rate loans and variable interest rate loans, an indexed loan allows for loan crediting to be determined by the Indexed Loan Account.1


  • Take a policy loan at a fixed rate and receive crediting based on changes in the underlying indices of the Indexed Loan Account
  • Potentially receive gains on values in the Indexed Loan Account if index crediting exceeds loan rate charges


  • Fixed 5% loan charge
  • Loan crediting tied to underlying indices of the Indexed Loan Account
  • Agreement will be automatically added to the policy at issue. Policyholders may opt out of this agreement.
  • If the agreement is not added at issue, it may be added at any time, including before taking an indexed loan
  • When a loan is taken, money will be moved to an indexed account that is designated as the Indexed Loan Account
  • The designated Indexed Loan Account is modeled after Indexed Account E:
    • 0% floor
    • 100% participation
    • Tracks multiple indices
  • Cap will be set monthly along with all other index caps


Products with the Indexed Loan Agreement:

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1. The Indexed Loan Account is a blended account that tracks the same indexes as Indexed Account E. Cash value may not be allocated to the Indexed Loan Account.

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

Life insurance products contain charges, such as Cost of Insurance Charge, Cash Extra Charge, and Additional Agreements Charge (which we refer to as mortality charges), and Premium Charge, Monthly Policy Charge, Policy Issue Charge, Transaction Charge, Index Segment Charge, and Surrender Charge (which we refer to as expense charges). These charges may increase over time, and may contain restrictions, such as surrender periods. Policyholders could lose money in these products.

Indexed loans are only available with the Indexed Loan Agreement. This agreement may be added to in-force accumulation-focused indexed universal life policies for no charge.

Cash value may not be allocated to the Indexed Loan Account.

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.

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.

Insurance products issued by Minnesota Life Insurance Company

Policy form numbers:  ICC14-20008, 14-20008 and any state variations; ICC15-20042, 15-20042 and any state variations

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

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 1-2023