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Securian Financial

Value Protection IUL

Affordable protection for life with built-in guarantees

Value Protection IUL is a protection focused IUL that offers simple, affordable protection with a built-in no lapse guarantee. It appeals to clients who are looking for a no-frills, low cost permanent life insurance policy with limited cash value growth.

Product details

Issue Ages: 0-80 years based on nearest birthday

Face Amount: $100,000 (minimum); $5 million (maximum)

Death benefit options: Level or increasing

No-lapse guarantee:1 Ensures the policy will pay a death benefit even if there isn’t enough cash value to cover monthly policy charges

  • Guarantees coverage to age 80, 85, 87 or 90 (based on your clients age and underwriting class), or a maximum of 40 years — whichever is less
  • Remains in effect as long as the monthly benchmark premium2 is paid

Surrender Charge: Applies for the first 15 years after issue or face amount increase

Indexed account options: 4 indexed account options plus a fixed account

Index crediting method: Annual point to point

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

Fixed interest rate loans

  • Charge rate: 4%
  • Crediting rate: 3%

Optional Agreements: Accelerated Death Benefit for Chronic Illness Agreement, Accelerated Death Benefit for Terminal Illness Agreement, Chronic Illness Access Agreement, Overloan Protection Agreement, Premium Deposit Account Agreement and Waiver of Premium Agreement

1. The no lapse guarantee value could be negative if monthly premium payments are not made on time. This may require the policy owner to pay a larger monthly premium in order to restore the no-lapse guarantee value to zero or greater. The no-lapse guarantee value has no impact on the policy's cash value and cannot be surrendered or loaned against. Policy loans could cause the no-lapse guarantee value to be less than zero, which would require the repayment of the loan or the payment of additional premiums to restore the no-lapse guarantee value to zero or greater.

2. The benchmark premium is a monthly measure. The no-lapse guarantee value is based on actual premium paid and the monthly benchmark premium. Payments differing in amount or frequency from the monthly benchmark premium will result in a different no-lapse guarantee value potentially impacting whether or not the no-lapse guarantee is in effect.

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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DOFU 12-2019