Securian offers new guaranteed minimum accumulation benefit for variable annuities
ST. PAUL, Minn.--(BUSINESS WIRE)--Securian Financial Group has launched a new Guaranteed Minimum Accumulation Benefit (GMAB) to help clients potentially grow their retirement assets without risking their initial investment. Securian’s SureTrack Plus 90 may be a good fit for clients who are at least 10 years from retirement and looking for market participation with a base guarantee.
SureTrack Plus 90 is available for use with select variable annuities for an additional cost. On the benefit date, clients are guaranteed a contract value that equals their total purchase payments or 90 percent of the highest anniversary contract value, whichever is greater (adjusted for withdrawals).
“An overarching trend in retirement planning is that clients are seeking guarantees,” said Linda Sonterre, Securian’s director of individual annuity product development. “Clients recognize that investing in the market can potentially help them grow their retirement assets faster, but they want guarantees protecting their investments when market performance slips. SureTrack Plus 90 is designed to meet this need, offering clients both guarantees and growth potential.”
Variable annuities are issued by Minnesota Life Insurance Company and distributed through Securian Financial Services, Inc. Member FINRA/SIPC. Variable annuities and the SureTrack Plus 90 guaranteed minimum accumulation benefit are available through advisors who have selling agreements with Minnesota Life Insurance Company. For more information, advisors may call the company’s annuity sales desk at 1-866-335-7355 or visit our website.
About Securian Financial Group
Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, Securian is the holding company parent of a group of companies that offer a broad range of financial services.
Optional benefits may not be approved in all states and product features may vary by state. Not all products, features and optional benefits are available from a selling broker. The SureTrack Plus 90 optional benefit establishes an Accumulation Base for calculating a minimum value available on the Benefit Date. Other than on the Benefit Date, the Accumulation Base provides no minimum contract value or investment return and is not available for withdrawal or payable at death. If on the Benefit Date the Accumulation Base is less than the contract value, the benefit terminates with no adjustment to contract value. The benefit requires use of an approved asset allocation strategy. Acceptance of future purchase payments is limited while this optional benefit is in effect. The guarantees are subject to the financial strength and claims-paying ability of Minnesota Life. The guarantees have no bearing on the performance of the variable investment options.
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. Please consult a tax advisor for specific information. There are charges and expenses associated with annuities, such as deferred sales charges for early withdrawals. Variable annuities have additional expenses such as mortality and expense risk, administrative charges, investment management fees and rider fees. Variable annuities are subject to market fluctuation, investment risk and loss of principal.
Variable annuities are sold by prospectus. You should consider the investment objectives, risks, charges, and expenses of a portfolio and the variable insurance product carefully before investing. The portfolio and variable insurance product prospectuses contain this and other information. You may obtain a copy of the prospectus from your representative. Please read the prospectus carefully before investing.
DOFU 8-2015 A01930-0615