Securian Financial (Minnesota Life) vs F&G (Fidelity & Guaranty Life)
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
F&G (Fidelity & Guaranty Life)
Founded: 1959
Des Moines, Iowa
Assets
$40 billion
IUL Experience
10+ years
Products
2
Avg Cap Rate
9.5%
Key Strengths
LIMRA Q2 2024: Top IUL provider ranking
Competitive historical performance
Quick policy delivery
Juvenile IUL specialty (15 days to 17 years)
Living benefits: accelerated death benefits
Detailed Feature Comparison
| Feature | Securian Financial (Minnesota Life) | F&G (Fidelity & Guaranty Life) |
|---|---|---|
| Founded | 1880 | 1959 |
| Headquarters | St. Paul, Minnesota | Des Moines, Iowa |
| Assets Under Management | $5.5 billion+ | $40 billion |
| Years in IUL Business | 10+ years | 10+ years |
| Number of IUL Products | 4 | 2 |
| Typical Cap Rate Range | 8% - 10% | 8% - 11% |
| Participation Rates | 120% | 115% |
| Minimum Premium | $5,000 annual | $3,600 annual |
| Issue Ages | 0-85 years | 15 days to 85 years |
| Underwriting Speed | 2-4 weeks standard | Some immediate delivery or within 24 hours |