Minnesota Life’s Eclipse is Top Selling Indexed Life Insurance Policy
June 13, 2011 by N/A
June 13, 2011 11:19 AM Eastern Daylight Time
ST. PAUL, Minn.–(BUSINESS WIRE)-–According to data compiled by LifeSpecs.com, Minnesota Life Insurance Company’s Eclipse was the top-selling indexed life product in the US during the first quarter of 2011. Additionally, Minnesota Life, a Securian Financial Group, Inc. subsidiary, ranked third overall in indexed life sales1.
“We are one of the most highly-rated life insurers offering indexed life products and we provide compelling consumer value,” said Bob Ehren, SVP, Securian Financial Group, Inc. “Eclipse ‘s design is straightforward and underwriting is competitive and consistent. Our distribution partners like to sell this product because they can tailor it to meet a variety of customer needs. That’s why Eclipse was first in sales last quarter.”
AnnuitySpecs.com’s Indexed Sales & Market Report reports on more than 99 percent of total US indexed life insurance production. The report shows that total first quarter 2011 sales rose to $194 million, more than 36 percent higher than during the same period in 2010.
“I am not surprised that indexed life continues to experience double-digit sales growth,” said Sheryl J. Moore, president and CEO, Advantage Group Associates, Inc., parent of LifeSpecs.com. “The convergence of the current risk-averse buyer mentality and low interest rates make this a strong market for indexed insurance sales.”
Minnesota Life introduced Eclipse Indexed Universal Life in 2006. The product provides upside potential with downside protection and its design appeals to clients who seek a death benefit plus efficient cash value accumulation. It also features three index accounts and one of the highest index caps2 in the industry. Since its introduction, Eclipse has steadily gained market share. Minnesota Life also offers a protection-focused indexed product, Eclipse Protector, and an indexed second-to-die policy, Eclipse Survivor.
Minnesota Life is highly rated by the major independent rating agencies that analyze the financial soundness and claims-paying ability of insurance companies. For more information about the rating agencies and to see where Minnesota Life’s ratings rank relative to others, visit www.minnesotalifesecurian.com/about/financials.html.
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 its New York affiliate, Securian Life Insurance Company.
Advantage Group Associates, Inc., based in Pleasant Hill, IA, provides research, data collection, training, product development and marketing services for indexed individual life and annuity products. They do not endorse any company or financial product.
1 Life insurance products contain fees, such as mortality and expense charges, and may contain restrictions, such as surrender periods. Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.
2 Growth caps can change over time as economic conditions vary.
DOFU – 06-2011
Maggie Jensen, 651-665-7558
Media Relations Consultant