Securian Financial Group announced higher single and joint withdrawal
rates for MyPath™ optional living benefits on MultiOption® variable
annuities issued by Minnesota Life. The higher annual income percentage
withdrawal rates give annuity owners the ability to withdraw a higher
percentage of their annuity assets than when the products were
"Financial advisors and their clients are looking for guaranteed income.
With a more favorable interest rate environment, we saw an opportunity
to enhance the guaranteed withdrawal percentages in our optional living
benefit suite," said Linda
Sonterre, director, Individual Annuity Product Development.
For all applications signed on or after July 21, 2014, single and joint
withdrawal rates increased by the following amounts:
Securian's MyPath Lifetime Income suite of optional living benefits is
designed to help clients protect, grow and sustain income that's
guaranteed to last throughout retirement.
"The MyPath suite provides flexibility that helps clients manage the ups
and downs of an uncertain economic environment during retirement. The
higher withdrawal rates provide even greater benefits for clients," said
Sonterre. "Securian's risk-managed approach to this market is designed
for longevity with the goal of providing products that meet a wide range
of consumer needs."
Securian variable annuitie are issued by Minnesota Life Insurance
Company and distributed through Securian Financial Services, Inc. Member
FINRA/SIPC. MultiOption Variable Annuities and MyPath living benefits
are available through advisors who have selling agreements with
Minnesota Life Insurance Company. For more information, advisors may
call the annuity sales desk at 1-866-335-7355 or visit https://advisor.securian.com/avs/ibd.
MyPath optional living benefits are available for an additional cost
with MultiOption variable annuities.
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.
MultiOption annuities and MyPath optional living benefits may not be
approved in all states and product features and availability may vary by
state. We reserve the right to limit or discontinue acceptance of future
purchase payments after the contract is issued. This may limit the
ability to increase the contract value through additional purchase
payments. If an optional benefit is elected in the contract, this may
also limit the ability to increase the value used to calculate the
The MyPath lifetime income suite of optional living benefits establishes
a benefit base for calculating guaranteed annual income. The benefit
base provides no minimum contract value or investment return and is not
available for withdrawal. Withdrawals exceeding allowed guidelines, or
taken before the Benefit Date, may have a negative impact on the
guarantees of these optional living benefits. These benefits cannot be
cancelled and require use of an approved asset allocation strategy. The
guarantees are based on the financial strength and claims-paying ability
of the issuing insurance company and 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.
There are charges and expenses associated with annuities, such as
deferred sales charges for early withdrawals, 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.
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