Clients with Estate Planning Needs Get a First-in-the-Industry Opportunity with Eclipse Survivor Pro.
ST. PAUL, Minn. -- Clients concerned that taxes could erode the value of their estates may find a solution in the latest addition to Securian's suite of Eclipse Indexed Universal Life Insurance.
Minnesota Life Insurance Company, Securian's largest subsidiary, is the first life insurer to offer this type of agreement on a index-linked life product.
Eclipse Survivor Pro is a protection-focused, survivorship universal life policy with interest crediting potential tied to five index accounts the clients can choose from. It helps protect assets by providing an income tax free death benefitto help pay estate taxes and ensure clients' assets transfer to the next generation.
Eclipse Survivor Pro Indexed Universal Life features the optional Performance Death Benefit Guarantee Agreement (Performance DBGA). The Performance DBGA allows for strong index account crediting over time to potentially improve the death benefit guarantee in four ways:
* Extend the length of the guarantee,
* Lower the premium,
* A combination of both, or
* Use the cash value towards a single premium to pay up the policy
"Eclipse Survivor Pro offers life insurance protection on two individuals, with the benefits paid upon the passing of the second insured," said Andrea Mack, director, Life Product Promotions, Securian Financial Group, Inc. "It also provides flexible premiums, cash value growth at a minimum fixed interest rate and the potential for a guaranteed death benefit." It joins Eclipse, Eclipse Protector and Eclipse Survivor in Securian's Eclipse Indexed Universal Life product family that all offer the opportunity to participate in any of several indexes.
Clients most likely to consider Eclipse Survivor Pro are couples aged 40 to 70 who want:
* Help with estate planning
* Flexibility with a death benefit guarantee
* Multiple index crediting options
* A single pay option
Eclipse Survivor Pro also offers an Estate Preservation Agreement Choice that provides the option to elect a four-year term benefit at the death of the designated insured without underwriting. The benefit amount is determined when the policy is issued.
"Clients who want competitively priced lifetime protection with a potential benefit from positive index account changes may find that Eclipse Survivor Pro meets their needs," said Mack.
As an indexed product, Eclipse Survivor Pro's interest crediting potential is tied to changes in an index account or accounts the clients choose. The crediting potential has a cap and floor - a maximum and minimum. This means interest crediting could potentially be higher than traditional fixed interest policies, but clients also are protected from negative earnings. Growth caps can change over time as economic conditions vary.
Eclipse Survivor Pro Indexed Life is designed as protection-focused, second to die indexed life insurance policy. While its interest crediting options through index account(s) provide opportunity for cash accumulation, the product is designed to first meet the death benefit needs of families: Cash accumulation is a secondary benefit. Please keep in mind one cannot invest directly in an index.
Life insurance products contain fees, such as mortality and expense charges, and may contain restrictions such as surrender periods. Riders and agreements may be subject to additional fees, costs and restrictions.
The DBGA value is only used for the purpose of determining whether the benefit under this rider is available. It does not represent any value that the policyholder can access.
This information is a general discussion of the relevant federal tax laws. It is not intended for, nor can it be used by any taxpayer for the purpose of avoiding federal tax penalties. This information is provided to support the promotion or marketing of ideas that may benefit a taxpayer. Taxpayers should seek the advice of their own tax and legal advisors regarding any tax and legal issues applicable to their specific circumstances.
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, it is the holding company parent of a group of companies that include Minnesota Life Insurance Company and Securian Life Insurance Company, a New York admitted insurer.
DOFU - 0812 A03240-0812
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|Date:||Aug 22, 2012|
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