Survivorship life insurance products

Survivorship policies cover two people with one death benefit payable after the death of the second insured. These policies are ideal for couples wishing to leave a legacy for their heirs and include estate-planning solutions to help them protect their legacies.

Our survivorship products are indexed universal life (IUL) policies, allowing for higher crediting1 potential than fixed-interest products, providing more flexibility for clients’ changing needs.

Eclipse Survivor IUL

Provides couples death benefit protection and potential for strong cash value accumulation through multiple indexed account options.

   
Issue ages 20-90 based on “age nearest” birthday
Minimum face amount $200,000 for all ages
Death benefit options Level, increasing or sum of premiums
Surrender charge

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

Five indexed account options2
  • S&P 500® with 100% participation
  • S&P 500® with 140% participation
  • S&P 500® 3-year with 140% participation1
  • Blended Index (S&P 500, Russell 2000, Barclays Capital U.S. Aggregate Bond and EURO STOXX 50® with 100% participation.
  • EURO STOXX 50® with 100% participation
Index crediting method
Annual point to point (3-year reset for 3-year index option)
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 3,4
  • Loan charge rate: 4%
  • Loan crediting rate: 3% in years 1-10; 3.9% in years 11+
Variable interest rate loans4
  • 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
Indexed Loans5
  • Loan charge rate: 5%
  • Loan crediting rate: Directly tied to performance of the Indexed Loan Account
Agreements available Early Values Agreement, Estate Preservation Agreement, Estate Preservation Agreement Choice, First-to-Die Agreement, Indexed Loan Agreement, Interest Accumulation Agreement, Overloan Protection Agreement, Policy Split Agreement, Premium Deposit Account Agreement, Single-Life Term Agreement, Surrender Value Enhancement Agreement, Term Insurance Agreement

Eclipse Survivor Pro IUL

Offers flexible premiums that fit within clients’ budgets. Designed to protect against estate taxes, Eclipse Survivor Pro IUL may be right choice for couples seeking competitively priced, guaranteed lifetime protection with the potential to benefit from positive indexed account changes.

   
Issue ages 20-85 based on “age nearest” birthday
Minimum face amount $200,000 for all ages
Death benefit options Level, increasing or sum of premiums
Surrender charge

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

Five indexed account options2
  • S&P 500® with 100% participation
  • S&P 500® with 140% participation
  • S&P 500® 3-year with 140% participation1
  • Blended Index (S&P 500, Russell 2000, Barclays Capital U.S. Aggregate Bond and EURO STOXX 50® with 100% participation.
  • EURO STOXX 50® with 100% participation
Index crediting method
Annual point to point (3-year reset for 3-year index option)
Surrender charge Applies for the first 15 years after issue or face amount increase
Minimum guaranteed interest rates
2% at time of death, policy termination or surrender
Fixed interest rate loans 3,4
  • Loan charge rate: 5%
  • Loan crediting rate: 4% in years 1-10; 4.9% in years 11+
Variable interest rate loans4
  • 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
Agreements available Early Values Agreement, Estate Preservation Agreement, Estate Preservation Agreement Choice, First-to-Die Agreement, Interest Accumulation Agreement, Overloan Protection Agreement, Policy Split Agreement, Performance Death Benefit Guarantee Agreement, Premium Deposit Account Agreement, Single-Life Term Agreement, Term Insurance Agreement

1. Not available on Securian Life indexed life products in the state of New York.

2. Four indexed account options in the state of New York. 

3. 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. This is not applicable to Securian Life indexed products in the state of New York.

4. Only one loan rate type available at one time; may switch between loans once per year. This is not applicable to Securian Life indexed products in the state of New York.

5. Indexed loans are only available with the Indexed Loan Agreement. The Indexed Loan Agreement may be added to in-force Eclipse Survivor IUL policies for no charge.

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

The "S&P 500 Index" is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ("SPDJI") and, and has been licensed for use by Minnesota Life Insurance Company ("Minnesota Life") and Securian Life Insurance Company ("Securian 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 and Securian 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. 

Russell Investment group. Russell 2000® is an equity index that measures the performance of the 2,000 smallest companies in the Russell 3000® Index, which is made up of 3,000 of the biggest U.S. stocks. The Russell 2000® is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not affect the performance and characteristics of the true small-cap index. Russell 2000® is a registered service mark of Frank Russell Company. The Indexed Universal Life Series ("the Policies") are not sponsored, endorsed, sold or promoted by Russell Investment Group and the Russell Investment Group makes no representation regarding the advisability of the Policies or use of the Russell 2000® Index or any data included therein. 

Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Russell Investment Group.

Barclays Capital Inc. and its affiliates ("Barclays") is not the issuer or producer of the Indexed Universal Life Series Policies ("the Policies"), and Barclays has no responsibilities, obligations or duties to investors in the Policies. The Barclays Capital U.S. Aggregate Index is a trademark owned by Barclays Bank PLC and licensed for use by Minnesota Life Insurance Company ("Minnesota Life") and Securian Life Insurance Company ("Securian Life") as the Issuer of the Policies. While Minnesota Life and Securian Life may for itself execute transaction(s) with Barclays in or relating to the Barclays Capital U.S. Aggregate Bond Index, the Policies investors shall not acquire any interest in Barclays Capital U.S. Aggregate Bond Index nor do they enter into any relationship of any kind whatsoever with Barclays upon making an investment in the Policies. The Policies are not sponsored, endorsed, sold or promoted by Barclays and Barclay's makes no representation regarding the advisability for the Policies or use of the Barclays Capital U.S. Aggregate Bond Index or any data included therein. Barclays shall not be liable in any way to the Issuer, investors or to other third parties in respect of the use of accuracy of the Barclays Capital U.S. Aggregate Bond Index or any data included therein.

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. 

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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.

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.

Depending upon actual policy experience, the owner may need to increase premium payments to keep the policy in force. 

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.

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.

These materials are for informational and educational purposes only and are not designed, or intended, to be applicable to any person's individual circumstances. It should not be considered investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action. Securian Financial Group, and its affiliates, have a financial interest in the sale of their products.

Not a deposit - Not FDIC/NCUA insured - Not insured by any federal government agency - Not guaranteed by any bank or credit union - May go down in value

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

DOFU 11-2019
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