Minnesota Life/Securian Life: Changes in Maximum Illustrated Rates for IUL Products

As a result of the new Actuarial Guideline 49 (AG49), and other strategic changes, Minnesota Life and Securian Life, a New York authorized insurer, are announcing the following updates to our Indexed Universal Life Insurance (IUL) illustrations.

Effective September 1, 2015, all Minnesota Life/Securian Life, Indexed Universal Life Insurance illustrations will reflect the following changes:

  • New Maximum Illustrated Rates for all Indexed Accounts
  • Modified Alternative Illustrated Rate

The new maximum illustrated rate will apply to new sales illustrations only. It will not apply to inforce policies where the initial premium was applied to the contract prior to September 1, 2015. The modified Alternative Illustrated Rate will apply to both new, and inforce policies.

In addition, in an effort to demonstrate prudent and disciplined product management to support our high financial ratings, effective August 22, 2015, participating indexed or variable loans may no longer be illustrated within the first five policy years. This change will not affect inforce policies.

Click here for additional information and transition rules.

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