Securian Financial (Minnesota Life) vs Voya Financial
Comprehensive side-by-side comparison of indexed universal life insurance companies
Securian Financial (Minnesota Life)
Founded: 1880
St. Paul, Minnesota
Assets
$5.5 billion+
IUL Experience
10+ years
Products
4
Avg Cap Rate
9%
Key Strengths
140+ year history
Eclipse Accumulator II with new Hindsight Account (60/40/0 split)
Low charges and transparency
Nearly $2B annuity sales (2023)
IPA Flex rider for customization
Voya Financial
Founded: 1991
New York, NY
Assets
$458 billion+ AUM
IUL Experience
5+ years
Products
5
Avg Cap Rate
9%
Key Strengths
Offers 5 IUL products
NOTE: Individual sales discontinued 2019-2020; primarily group/workplace only
Orange Pass accelerated underwriting
Detailed Feature Comparison
| Feature | Securian Financial (Minnesota Life) | Voya Financial |
|---|---|---|
| Founded | 1880 | 1991 |
| Headquarters | St. Paul, Minnesota | New York, NY |
| Assets Under Management | $5.5 billion+ | $458 billion+ AUM |
| Years in IUL Business | 10+ years | 5+ years |
| Number of IUL Products | 4 | 5 |
| Typical Cap Rate Range | 8% - 10% | 8% - 10% |
| Participation Rates | 120% | 110% |
| Minimum Premium | $5,000 annual | $5,000 annual |
| Issue Ages | 0-85 years | 0-85 years |
| Underwriting Speed | 2-4 weeks standard | Orange Pass: 5 business days |