Fixed deferred annuities

Safety, certainty and guarantees

One of the primary reasons to choose a fixed deferred annuity is the guaranteed interest throughout the term of the annuity. 

Fixed deferred annuities have no exposure to market risk. This means money can grow every year, without the fear of market loss. 

SecureOption® Choice

SecureOption Choice, a multi-year guaranteed annuity (MYGA) with market value adjustment (MVA) provides competitive rates, attractive liquidity features, a range of guarantee periods and the strength and ratings of Minnesota Life. 

   
Contract type Single Payment
Maximum issue age 90
Purchase payments Minimum: $25,000
Subsequent: N/A
Maximum: $2 million without prior company approval
Guarantee periods Initial: 3, 5, 7, or 9 years
Thereafter: 1 year guarantee period
Rate banding < $100,000
$100,000+
Surrender charge Matches guarantee period chosen:
9-Year (%=9, 8, 7, 6, 5, 4, 3, 2, 1, 0)
7-Year (%=9, 8, 7, 6, 5, 4, 3, 0)
5-Year (%=9, 8, 7, 6, 5, 0)
3-Year (%=9, 8, 7, 0)
Market value adjustment (MVA) Applies only during the initial guarantee period
Amounts available without charge or MVA

10% of prior anniversary value
RMD
Qualifying withdrawals under medical care stay or terminal condition waiver

 

Death benefit Contract value

SecureOption® Focus

SecureOption Focus, a fixed, deferred annuity without MVA, provides guaranteed options so your clients can stop worrying, and start preparing for an enjoyable future. Clients will enjoy tax-deferred compounding that enhances their long-term earnings, and the ability to create a future stream of income that can be guaranteed to last a lifetime.

   
Contract type Single Payment
Maximum issue age 88
Purchase payments Minimum: $10,000
Subsequent: $1,000 during 1st six months
Maximum: $2 million
Guarantee periods Initial: 1, 3, 5, 7 year initial guarantee periods
Thereafter: 1 year guarantee period
Rate banding $35,000
$100,000
Deferred sales charge 7 years (%=7, 7, 7, 6, 5, 4, 3)
Amounts available without charge 10% of prior anniversary value
RMD
Qualifying withdrawals under health care or terminal condition waiver
Return of purchase
payment guarantee1
Should your clients need to surrender their contract
Death benefit Contract value

SecureOption® Select

(available in select states)

SecureOption Select is a fixed, deferred annuity with market value adjustment (MVA) offering a choice of interest rate guarantee periods and a 30-day window at the end of the chosen period providing flexibility for your client should their retirement needs change. The guarantees and freedom window help put your clients in charge of their retirement, providing safety and certainty on their terms.

   
Contract type Single Payment with MVA
Maximum issue age 90
Purchase payments Minimum: $5,000
Subsequent: N/A
Maximum: $2 million
Guarantee periods Initial: 5, 7, 9 year periods
Thereafter: Automatic renewal into same guarantee period
Rate banding $100,000
Deferred sales charge 9 years (%=9, 9, 8, 7, 6, 5, 4, 3, 2)
Amounts available without charge or MVA

10% of prior anniversary value 

RMD 

Additional 10% for qualifying withdrawals under medical facility waiver

Market value adjustment Applies during guarantee period
Death benefit Contract value

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1. The surrender value is guaranteed to be at least equal to purchase payments less prior withdrawals, including any applicable deferred sales charge.
2. Product is closed to new sales in most states. Please verify availability with the Annuity Sales Desk. A variable license may be required to sell SecureOption Select in AL, AR, CA, CT, IN, MI, MN, MO, NJ and WI.

Products are issued by Minnesota Life Insurance Company. In New York, products are issued by Securian 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.

An annuity is intended to be a long-term, tax-deferred retirement vehicle. Earnings are taxable as ordinary income when distributed, and if withdrawn before age 59½, may be subject to a 10% federal tax penalty. If the annuity will fund an IRA or other tax qualified plan, the tax deferral feature offers no additional value. Qualified distributions from a Roth IRA are generally excluded from gross income, but taxes and penalties may apply to non-qualified distributions. There are charges and expenses associated with annuities, such as surrender or deferred sales charges for early withdrawals. 

SecureOption Focus may pay an interest rate enhancement or bonus interest on certain purchase payments. Renewal rates may be reduced as a result of the interest rate enhancement such that the additional interest may or may not increase the total amount of interest your contract earns over the life of the contract. Whether or not it does depends on multiple factors, including the length of time you hold the contract. We consider many factors when setting interest crediting rates for your contract including the cost of the interest rate enhancement or bonus interest, sales commissions paid to sales representatives, administrative costs, and current investment and market conditions.

SecureOption Select and SecureOption Choice contains a Market Value Adjustment. A Market Value Adjustment adjusts the annuity's value to reflect the changes in interest rates since the contract was purchased. Depending on the direction interest rates have taken since the contract was opened, the MVA can have a positive or negative impact on the value of the annuity.

Annuity income payments are required to begin at the contract maturity date. If clients with SecureOption Select choose an annuity income option prior to the end of the interest rate guarantee period, the Market Value Adjustment could increase or decrease the amount available to provide annuity income.

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.

DOFU 1-2019
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