Securian Financial (Minnesota Life) vs National Life Group
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
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
Detailed Feature Comparison
| Feature | Securian Financial (Minnesota Life) | National Life Group |
|---|---|---|
| Founded | 1880 | 1848 |
| Headquarters | St. Paul, Minnesota | Montpelier, Vermont |
| Assets Under Management | $5.5 billion+ | $45 billion |
| Years in IUL Business | 10+ years | 20+ years |
| Number of IUL Products | 4 | 3 |
| Typical Cap Rate Range | 8% - 10% | Not publicly disclosed - Not publicly disclosed |
| Participation Rates | 120% | Competitive market rates |
| Minimum Premium | $5,000 annual | $50,000 (FlexLife) |
| Issue Ages | 0-85 years | 0-85 years |
| Underwriting Speed | 2-4 weeks standard | 2-4 weeks standard |