SecureOption Choice 9 (CA)

SecureOption Choice 9 (CA)

Product Name

SecureOption Choice 9 (CA)

Annuity Type

Multi-Year Guarantee Annuity

Issuing Insurance Company and Ratings

Securian Financial – Minnesota Life Insurance Company - View details

A+
(2nd of 15 ratings)
AA-
(4th of 20 ratings)
Aa3
(4th of 21 ratings)
AA
(3rd of 21 ratings)
96
(percentile of rated companies)

Product Information

The SecureOption Choice 9 is a deferred multi-year guarantee annuity issued by Securian Financial – Minnesota Life Ins.

This annuity is a premium banded product. The interest rate you earn will vary depending on the amount of premium you deposit (see Rate Details below). Currently, the highest 9 year guarantee period annual yield is 3.75% on premium amounts of $100,000 – $2,000,000.  This is the guaranteed annual yield, including bonuses if applicable, for the initial guarantee period term, up to the first penalty free full withdrawal window. The SecureOption Choice 9 has a full penalty free withdrawal window after 9 years.

During the time in which the annuity is subject to surrender penalties, there are policy provisions that allow partial access on a penalty free basis.
Beginning with the first contract year, and each year thereafter, this annuity provides up to 10% (noncumulative) of the contract value may be withdrawn from the annuity each contract year without penalty.

This annuity also waives withdrawal penalties upon death. Your named beneficiary(ies) will receive a death benefit equal to the full accumulation value. A beneficiary may choose to receive their death benefit in either a lump sum or select an available annuitization option.

Details on additional penalty waivers can be found in the Penalty Free Withdrawal Provisions section below.

Securian Financial – Minnesota Life Ins is rated “A+” by A.M. Best, was founded in 1880, and has over $33 billion in total assets.

Rate Details

Sep 15th, 2022
Not Scheduled
9 years

Premium Amount: $100,000 - $2,000,000 High-Band

Current
9 Year Guarantee Period Annual Yield: 3.75%
Interest rate start of year 1 through end of year 9: 3.75%

Premium Amount: $25,000 - $99,999 Low-Band

Current
9 Year Guarantee Period Annual Yield: 3.60%
Interest rate start of year 1 through end of year 9: 3.60%

Initial Surrender Charge and MVA Periods

Early Surrender Charges: 9 years
Market Value Adjustment (MVA): N/A
Penalty Free Full Withdrawal Window Available After: 9 years

State variations may exist, refer to product disclosure for details. 

Other Guarantee Periods Available

Policy Details

Min Premium Non-Qualified: $25,000
Max Premium Non-Qualified: $2,000,000
Max Issue Age Non-Qualified: 90
Rate Lock on Transfers: 60 days
Death Benefit: Accumulation Value

Min Premium Qualified: $25,000
Max Premium Qualified: $2,000,000
Max Issue Age Qualified: 90
Subject to MVA: No
Income Rider Available: No

Penalty Free Withdrawal Provisions

First Year Withdrawals: 10%
Cumulative Withdrawals: No
Penalty Waivers: Annuitization, Death, Home Health Care, Nursing Home and Terminal Illness

Years 2+ Withdrawals: 10%
RMD Friendly: Yes

See product brochure, disclosure and riders for additional details, limitations and availability. State variations, age restrictions and holding periods may apply.

State Variations

Available only in:  CA (as of 06/05/2019)