Carrier to Make Changes to Caps & Participation Rates Due To Market Conditions

Due to changes in market conditions, the life insurance industry has experienced a number of cap and participation rate reductions in recent months. While these changes have become common, it is important to note that not all carriers handle them the same. In some cases, carriers maintain caps for both new business and in-force, but in others, a carrier may lower caps on existing policies in order to keep higher caps on new policies to attract sales.

Why should existing clients have less opportunity than a new policy sold today?

While Securian is not immune to the pressure of these changes, they believe in building strong relationships and strive to treat all policyholders the same. That means they don't support higher caps at the expense of existing policyholders. For example, an Eclipse Indexed Life client will have the same cap, or accumulation opportunity, if they have been with Securian for 10 years or ten days.

Please note:

All money applied on or before April 20th will receive the old cap rates. Money applied after April 20th will receive the new cap rates.
Illustrations will reflect the new cap rates beginning March 31st.

Cap & Participation Rates

Eclipse, Eclipse Survivor Indexed Life and Omega Builder	April	May
Minnesota Life Insurance Company	Cap	Cap
Account A – S&P 500^® – 100% Participation	12.50%	11.75%
Account B – S&P 500 – 140% Participation	7.00%	6.75%
140% participation results in maximum crediting rate of:	9.80%	9.45%
Account D – S&P 500 3-Year – 140% Participation	32.00%	27.00%
140% participation results in maximum crediting rate of:	44.80%	37.80%
Account E – Blended – 100% Participation	17.00%	16.00%
Account F – Euro STOXX 50^® – 100% Participation	13.00%	12.25%
Indexed Loan Account	17.00%	16.00%
Securian Life Insurance Company	Cap	Cap
Account A – S&P 500 – 100% Participation	13.00%	12.25%
Account B – S&P 500 – 140% Participation	7.25%	7.00%
140% participation results in maximum crediting rate of:	10.15%	9.80%
Account E – Blended – 100% Participation	17.00%	16.50%
Account F – Euro STOXX 50 – 100% Participation	14.00%	12.75%

Eclipse Protector and Eclipse Survivor Pro Indexed Life	April	May
Minnesota Life Insurance Company	Cap	Cap
Account A2 – S&P 500 – 100% Participation	9.50%	8.75%
Account B2 – S&P 500 – 140% Participation	6.00%	5.75%
140% participation results in maximum crediting rate of:	8.40%	8.05%
Account D2 – S&P 500 3-Year – 140% Participation	27.00%	22.00%
140% participation results in maximum crediting rate of:	37.80%	30.80%
Account E2 – Blended – 100% Participation	13.00%	12.00%
Account F – Euro STOXX 50 – 100% Participation	11.00%	10.25%
Securian Life Insurance Company	Cap	Cap
Account A2 – S&P 500 – 100% Participation	10.00%	9.25%
Account B2 – S&P 500 – 140% Participation	6.00%	5.75%
140% participation results in maximum crediting rate of:	8.40%	8.05%
Account E2 – Blended – 100% Participation	14.00%	13.00%
Account F – Euro STOXX 50 – 100% Participation	11.00%	10.50%

Orion IUL	April	May
	Cap	Cap
Account A – S&P 500^® – 100% Participation	12.50%	11.75%
Account E – Blended – 100% Participation	17.00%	16.00%
Account G – S&P 500 – Low Volatility	Unlimited	Unlimited
Account G – Participation Rate:	100.00%	90.00%
Account H – S&P 500 – Low Volatility 2-Year	Unlimited	Unlimited
Account H – Participation Rate:	115.00%	105.00%
Account H – Partial Index Credit Factor:	.90	.90
Account J – S&P 500 – Index Multiplier of .10 – 100% Participation	9.25%	9.00%
Account K – S&P 500 – Index Segment Charge – 100% Participation	14.50%	13.75%
Indexed Loan Account	12.50%	11.75%

VUL Defender^®	April	May
	Cap	Cap
Account A – S&P 500 – 100% Participation	9.00%	8.25%
Account B – S&P 500 – 140% Participation	6.00%	5.75%
140% participation results in maximum crediting rate of:	8.40%	8.05%

Life insurance products contain fees, such as mortality and expense charges (which may increase over time), and may contain restrictions, such as surrender periods. Variable life insurance products contain fees, such as management fees, fund expenses, distribution fees and mortality and expense charges (which may increase over time). The variable investment options are subject to market risk, including loss of principal.

These materials are for informational and educational purposes only and are not designed, or intended, to be applicable to any person's individual circumstances. It should not be considered investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action. Securian Financial Group, and its affiliates, have a financial interest in the sale of their products.

The "S&P 500 Index" is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ("SPDJI") and, and has been licensed for use by Minnesota Life Insurance Company (Minnesota Life). Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC, a division of S&P Global ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Minnesota Life. Indexed Universal Life Insurance Policy Series is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

The EURO STOXX 50® is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland and/or its licensors ("Licensors"), which is used under license. The interest crediting for the Indexed Universal Life Series Policies based on the Index are in no way sponsored, endorsed, sold or promoted by STOXX and its Licensors and neither of the Licensors shall have any liability with respect thereto.

This information should not be considered as tax or legal advice. Clients should consult their tax or legal advisor regarding their own tax or legal situation.

Please keep in mind that the primary reason to purchase a life insurance product is the death benefit. For financial professional use only. Not for use with the public. This material may not be reproduced in any form where it would be accessible to the general public.

Securian Financial Group, Inc. http://www.securian.com

Insurance products are issued by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not an authorized New York insurer and does not do insurance business in New York. Both companies are headquartered in Saint Paul, MN. Product availability and features may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues. Securities offered through Securian Financial Services, Inc. Member FINRA/SIPC.

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