Securian’s new variable universal life insurance product offers one of the most competitive guaranteed death benefits in the market
ST. PAUL, Minn.--(BUSINESS WIRE)--Securian Financial Group has launched VUL DefenderTM, a new variable universal life insurance product designed to provide one of the most competitive lifetime guaranteed death benefits in the market today.
According to LIMRA, a life insurance trade association, variable universal life premium has recorded positive growth for 10 consecutive quarters, with new annualized premium increasing 27 percent in 2014.
“Variable life sales continue to increase, including in the protection-focused market,” said Bob Ehren, Securian’s senior vice president of life product manufacturing. “We’ve launched VUL Defender, a protection-focused variable product, to provide our distribution partners with an attractive option to help meet a growing client need.”
VUL Defender is for clients seeking guaranteed death benefit protection at a more affordable price. Through the combination of an optional Death Benefit Guarantee Flex Agreement (DBGA Flex) and new Managed Volatility Portfolios (MVPs), VUL Defender has the potential to provide a more affordable guarantee than traditional variable life policies.
DBGA Flex can help clients bring a level of guaranteed coverage into their budgets by potentially lowering the cost of the premium. “This unique and flexible guarantee is available exclusively with VUL Defender, giving our distribution partners a way to set themselves apart from the competition,” said Larry Cochrane, Securian’s vice president of retail product distribution.
While VUL Defender offers an array of allocation options, including a Guaranteed Interest Account, two fixed indexed accounts and 20 variable subaccounts, the MVPs are particularly appealing for clients seeking a product to help limit the impact of market swings and reduce risk in market fluctuations.
When clients buy a VUL Defender policy, they are buying a policy that has the potential to improve with time and that changes with them. The policy guarantees are not only backed by a company with experience and financial strength—they are backed by a company that is committed to the financial goals of its customers for the long run.
“Securian is committed to standing by its clients, treating them with the level of respect and dedication they deserve,” said Ehren.
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.
Insurance products are offered by Minnesota Life Insurance Company; variable products are distributed by Securian Financial Services, Inc. Member FINRA/SIPC.
VUL Defender is designed first and foremost to provide life insurance protection. While the interest crediting and variable subaccount options are attractive for cash accumulation, the product should always be promoted to first meet the death benefit needs of families and businesses with cash accumulation as a secondary benefit.
Variable life insurance products contain fees, such as management fees, fund expenses, distribution fees and mortality and expense charges, and may contain restrictions, such as surrender charges. The variable investment options are subject to market risk, including loss of principal. One could lose money in this product.
Although Managed Volatility Portfolios seek to minimize the impact of market downturns, their hedging strategies may limit some upside potential. As with any variable investment, investing in Managed Volatility Portfolios involves investment risk, including the loss of principal. Neither diversification nor asset allocation guarantee against loss; they are methods used to manage risk. Because these funds deploy an asset allocation strategy, investment risks may vary. One should consult the prospectus for details.
Insurance guarantees are based on the claims-paying ability of the issuing life insurance company.
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, and may not be available in combination with other agreements.
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.
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