Principal Financial Group vs Securian Financial (Minnesota Life)
Comprehensive side-by-side comparison of indexed universal life insurance companies
Principal Financial Group
Founded: 1879
Des Moines, Iowa
Assets
$629 billion+ AUM
IUL Experience
5+ years
Products
2
Avg Cap Rate
9%
Key Strengths
Offers IUL Accumulation II, IUL Flex II
Enhanced caps announced January 2024
Serves 17 million
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 | Principal Financial Group | Securian Financial (Minnesota Life) |
|---|---|---|
| Founded | 1879 | 1880 |
| Headquarters | Des Moines, Iowa | St. Paul, Minnesota |
| Assets Under Management | $629 billion+ AUM | $5.5 billion+ |
| Years in IUL Business | 5+ years | 10+ years |
| Number of IUL Products | 2 | 4 |
| Typical Cap Rate Range | 8% - 10% | 8% - 10% |
| Participation Rates | 110% | 120% |
| Minimum Premium | $5,000 annual | $5,000 annual |
| Issue Ages | 0-85 years | 0-85 years |
| Underwriting Speed | 2-4 weeks | 2-4 weeks standard |