Company Information
Company Name
Securian Financial
Product Name
Securian Financial SecureOption Focus 7
Description
The SecureOption Focus 7 (ROP) is a fixed annuity with a guaranteed seven-year rate lock and a Return of Premium feature. Owners can surrender their annuity at any time and be guaranteed the return of at least their purchase payments less any prior withdrawals.
After seven years when the policy has matured, the account declares a new, 12-month rate. It does not renew or start a new term. Owners can withdraw, transfer, or maintain their contract anytime after maturity.
This policy accepts additional premiums (minimum of $1,000) in the first six months. From time to time, Securian may also declare interest rate enhancements (rate increases) while the policy is in force.
This policy offers three interest rate bands. The highest rate is for amounts over $100K. A lower rate is available for the middle band between $35K – $99.9K, and the final rate is for the low band between $10K – $34.9K.
Qualified and non-qualified funds are accepted. Free withdrawals of 10% are available in all years. There are no surrender charges at death.
AM Best Rating
A+ Superior (2nd of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
10% / 10%
Rate
| 3.75% | $100,000 | — | $2,000,000 |
| 3.65% | $35,000 | — | $99,999 |
| 3.45% | $10,000 | — | $34,999 |
Term
7 Years
Minimum Investment
$100,000
Maximum Investment
$ 2,000,000
Maximum Age
88
Surrender Schedule
7%, 7%, 7%, 6%, 5%, 4%, 3%, 0%
What We Like About This Annuity
Offers a Return of Premium feature for maximum liquidity. This policy does not automatically renew at maturity. Three interest rate bands are available with 10% liquidity in all years. Offered from an A+ rated insurance company. No surrender penalties at passing.
Notable Features
Additional funds can be added in the first six months. Return of Premium included. At no extra charge, this policy also includes hospitalization, nursing home, and annuitization waivers. All allow for penalty-free withdrawals when triggered.
Other Popular Products
Securian Financial and their sister company Minnesota Life offer very competitive term, whole and universal life insurance policies. Long term care, accident and illness plans are also popular with consumers.
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About Securian Financial
Headquartered in St. Paul, MN, Securian Financial is part of the Securian Financial Group. This large and well-diversified insurance conglomerate boasts an A+ rating and over $33 billion of assets under management. Minnesota Life Insurance Company is also part of the group.
They have provided insurance for more than 140 years in the life and annuity markets. One of the company’s core values it to build a secure tomorrow for their clients and their families.