Company Information
Company Name
Securian Financial
Product Name
Securian Financial SecureOption Choice 5
Description
The SecureOption Choice 5 is a single premium, fixed annuity with a guaranteed five-year rate lock. After five years, 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 offers three interest rate bands. The highest rate is for amounts over $500K. A lower rate is available for the second band between $100K – $499.9K and the lowest rate is for the third band between $25K – $99.9K. There are no surrender charges at death. Qualified and non-qualified funds are accepted.
AM Best Rating
A+
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 10%
Rate
5.00%
Term
5 Years
Minimum Investment
$ 500,000
Maximum Investment
$2,000,000 without prior approval
Maximum Age
90
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 0%
What We Like About This Annuity
Account does not automatically renew at maturity. Three interest rate bands are available with 10% liquidity after one year. Offered from an A+ rated insurance company. No surrender penalties at passing.
Notable Features
At no extra charge, this policy 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.