Securian Financial Group and Annexus have formed an alliance and have launched a new indexed universal life (“IUL”) insurance policy with uncapped interest crediting potential.

“'Balanced Growth Advantage' IUL is for clients who want permanent life insurance and the ability to build cash value with protection from negative market performance,” said Larry Cochrane, Securian's vice president of retail product distribution. “In addition to providing death benefit protection, the policy can help clients accumulate assets to supplement retirement income or cover other financial needs that may arise later in life.”

According to Securian, a key feature of Balanced Growth Advantage (“BGA”), relative to traditional IUL policies, is its uncapped interest crediting potential, offering clients the ability to benefit from the growth of the S&P 500 Price Index subject to an index allocation factor. The company added that clients also benefit from protection from downside markets and partial credits applied to accumulation value withdrawn from the balanced indexed accounts, including policy charges. “It's natural to take the uncapped indexed crediting designs in our fixed indexed annuities and bring them to an indexed universal life insurance policy,” said Don Dady, co-founder of Annexus.

“The enthusiasm this new product has already received from our exclusive network has been remarkable,” added Annexus co-founder Ron Shurts. “We think that financial professionals and clients are going to share our excitement about this new opportunity.”

The new policy is underwritten by Securian's subsidiary, Minnesota Life Insurance Company, and was co-developed with Annexus and its product design partner, Genesis Financial.

Victoria Spears

Victoria Spears

Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].

More from this author ⟶