National Life Group vs Securian Financial (Minnesota Life)
Comprehensive side-by-side comparison of indexed universal life insurance companies
National Life Group
Founded: 1848
Montpelier, Vermont
Assets
$45 billion
IUL Experience
20+ years
Products
3
Avg Cap Rate
Competitive market rates
Key Strengths
Market leader with 17.4% market share
Lifetime Income Benefit Rider with 10-year waiting period
Industry-leading chronic illness rider
175+ years operating history
Mutual structure aligns with policyholder interests
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
Detailed Feature Comparison
| Feature | National Life Group | Securian Financial (Minnesota Life) |
|---|---|---|
| Founded | 1848 | 1880 |
| Headquarters | Montpelier, Vermont | St. Paul, Minnesota |
| Assets Under Management | $45 billion | $5.5 billion+ |
| Years in IUL Business | 20+ years | 10+ years |
| Number of IUL Products | 3 | 4 |
| Typical Cap Rate Range | Not publicly disclosed - Not publicly disclosed | 8% - 10% |
| Participation Rates | Competitive market rates | 120% |
| Minimum Premium | $50,000 (FlexLife) | $5,000 annual |
| Issue Ages | 0-85 years | 0-85 years |
| Underwriting Speed | 2-4 weeks standard | 2-4 weeks standard |