ST. PAUL, Minn.--(EON: Enhanced Online News)--Securian’s MyPath™ Lifetime Income suite of optional living benefits are designed to help clients protect, grow and sustain income that’s guaranteed to last throughout retirement.
“Each retirement is unique and advisors tell us their clients need a range of options rather than one-size-fits-all benefits that fit specific scenarios. The MyPath suite provides the flexibility that helps clients manage the ups and downs of an uncertain economic environment during retirement.”
“Today’s retirement may last 30 years or more, with shifts and changes in the economic environment that clients must be positioned to weather,” said Dan Kruse, second vice president and individual annuity actuary, Securian Financial Group. “Each retirement is unique and advisors tell us their clients need a range of options rather than one-size-fits-all benefits that fit specific scenarios. The MyPath suite provides the flexibility that helps clients manage the ups and downs of an uncertain economic environment during retirement.”
There are four MyPath benefits options available with Securian’s MultiOption variable annuities, each designed to help achieve specific financial goals. These optional living benefits are available for an additional cost. With an advisor’s assistance, annuity owners may select the benefit that helps meet their needs:
- MyPath CoreFlex: Flexible with a range of features
- MyPath Ascend: Accelerated enhancement growth of the benefit base for those gearing up for retirement. The enhancement feature is available during years when no withdrawals are made for up to 10 years.
- MyPath Summit: Greater withdrawal percentages of the benefit base for those nearing retirement
- MyPath Value: Valuable protection at a modest cost
“The recent upheaval in the variable annuity market has left many advisors searching for retirement strategies for their clients,” said Kruse. “Securian’s risk-managed approach to this market is designed for longevity. We’re here to stay with the goal of providing products that meet a wide range of consumer needs.”
Securian variable annuities are issued by Minnesota Life Insurance Company and distributed through Securian Financial Services, Inc. Member FINRA/SIPC. MultiOption Variable Annuities and MyPath living benefits are available through advisors who have selling agreements with Minnesota Life Insurance Company. For more information, advisors may call the annuity sales desk at 1-866-335-7355.
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 Securian Life Insurance Company, a New York admitted insurer.
MultiOption annuities and MyPath optional living benefits may not be approved in all states and product features and availability may vary by state. We reserve the right to limit or discontinue acceptance of future purchase payments after the contract is issued. This may limit the ability to increase the contract value through additional purchase payments. If an optional benefit is elected in the contract, this may also limit the ability to increase the value used to calculate the optional benefit.
The MyPath lifetime income suite of optional living benefits establishes a Benefit Base for calculating guaranteed annual income. The Benefit Base provides no minimum contract value or investment return and is not available for withdrawal. Withdrawals exceeding allowed guidelines, or taken before the Benefit Date, may have a negative impact on the guarantees of these optional living benefits. These benefits cannot be cancelled and require use of an approved asset allocation strategy. The guarantees are based on the financial strength and claims-paying ability of the issuing insurance company. The guarantees have no bearing on the performance of the variable investment options.
An annuity is intended to be a long-term, tax-deferred retirement vehicle. Earnings are taxable as ordinary income when distributed, and if withdrawn before age 59½, may be subject to a 10% federal tax penalty. If the annuity will fund an IRA or other tax-qualified plan, the tax deferral feature offers no additional value. There are charges and expenses associated with annuities, such as deferred sales charges for early withdrawals. Variable annuities have additional expenses such as mortality and expense risk, administrative charges, investment management fees and rider fees. Variable annuities are subject to market fluctuation, investment risk and loss of principal.
Variable annuities are sold by prospectus. You should consider the investment objectives, risks, charges, and expenses of a portfolio and the variable insurance product carefully before investing. The portfolio and variable insurance product prospectuses contain this and other information. You may obtain a copy of the prospectus from your representative. Please read the prospectus carefully before investing.
DOFU – 10-2013