Variable universal life insurance products

Variable universal life (VUL) insurance policies offer subaccount choices that allow clients to invest directly in the market — providing unlimited growth potential with added investment risk.

Premier VUL

Premier VUL (PVUL) is an accumulation-focused variable product that offers two important design options: choice and flexibility. It gives your clients a policy that can grow and change along with their priorities by providing death benefit protection and sub-account choices that allows clients to invest directly in the market, utilize fixed indexed accounts for upside potential and downside protection and a Guaranteed Interest Account for security and guarantees.

   
Issue ages 0-85 based on “age nearest” birthday
Minimum face amount $100,000 for all ages
Death benefit options Level or increasing
Surrender charge

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

Allocation options
  • Variable subaccounts including ETFs (fund of funds)
  • Fixed indexed accounts
  • Guaranteed Interest Account
Fixed indexed account options
  • S&P 500® with 100% participation subject to a cap
  • S&P 500® with 140% participation subject to a cap
  • S&P 500® Low Volatility, uncapped
  • Optimizer 1: S&P 500® with 100% participation subject to a cap and a crediting floor of 1%
  • Optimizer 2: S&P 500® with non-guaranteed participation and uncapped
Minimum guaranteed interest rates 2% at time of death, policy termination or surrender
Fixed interest rate loans 4,5
  • Loan charge rate: 3%
  • Loan crediting rate: 2% in years 1-10; 2.9% in years 11+
Variable interest rate loans5
  • 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
  • Only available on money within fixed indexed account options
Optional agreements Accelerated Death Benefit for Chronic Illness Agreement, Accelerated Death Benefit for Terminal Illness Agreement, Early Values Agreement, Guaranteed Income Agreement, Guarantee Insurability Option Agreement, Income Protection Agreement, Inflation Agreement, Overloan Protection Agreement, Premium Deposit Account Agreement, Term Insurance Agreement and Waiver of Premium Agreement

VUL Defender®

A protection-focused variable universal life product that was designed to provide one of the most competitive lifetime guaranteed death benefits in the market today.

Several features including a No Lapse Guarantee Agreement1 and a wide variety of variable subaccounts and fixed indexed accounts give your clients the ability to obtain their desired guarantee, within their budget

   
Issue ages 0-75 based on “age nearest” birthday
Minimum face amount $100,000 for all ages
Death benefit options Level or increasing
Surrender charge

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

Allocation options
  • Variable subaccounts including Managed Volatility Portfolios
  • Fixed indexed accounts
  • Guaranteed Interest Account
Fixed indexed account options
  • S&P 500® with 100% participation
  • S&P 500® with 140% participation
  • S&P 500® Low Volatility, uncapped, 70% participation
Minimum guaranteed interest rates 2% at time of death, policy termination or surrender
Fixed interest rate loans 4,5
  • Loan charge rate: 5%
  • Loan crediting rate: 4% in years 1-10; 4.9% in years 11+
Variable interest rate loans5
  • 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
  • Only available on money within fixed indexed account options
Optional agreements Accelerated Death Benefit for Chronic Illness Agreement, Accelerated Death Benefit for Terminal Illness Agreement, Guaranteed Insurability Option, Inflation Agreement, Level Term Insurance Agreement, No Lapse Guarantee Agreement, Overloan Protection Agreement, Premium Deposit Account Agreement, Waiver of Premium Agreement

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1. The No Lapse Guarantee Agreement (NLGA) value has no impact on your policy's cash value and cannot be surrendered or loaned against. If there is no accumulation value and the NLGA value, less the sum of any policy loans and any unpaid policy loan interest, is insufficient to cover the charges against the NLGA value, a 61-day grace period begins. If the required amount to keep the product in force is not paid by the end of the grace period, this agreement and the policy will terminate.

This must be preceded or accompanied by a current prospectus. You should consider the investment objectives, risks, charges and expense of a portfolio and the variable insurance product carefully before investing.  The portfolio and variable insurance product prospectuses contain this and other information. Please read the prospectuses carefully before investing.

Variable life insurance products contain fees, such as management fees, fund expenses, distribution fees and mortality and expense charges (which may increase over time). The variable investment options are subject to market risk, including loss of principal.

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.

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"). 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.

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.

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
957530