Securian Financial (Minnesota Life) vs Protective Life Insurance Company
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
Protective Life Insurance Company
Founded: 1907
Birmingham, Alabama
Assets
$120 billion
IUL Experience
15+ years
Products
2
Avg Cap Rate
9.5%
Key Strengths
Forbes: 'Best for Universal Life'
USA Today: Best carrier overall
Competitive internal policy costs
Term policies up to 40 years
Strong Japanese parent backing (Dai-ichi Life Holdings)
Detailed Feature Comparison
| Feature | Securian Financial (Minnesota Life) | Protective Life Insurance Company |
|---|---|---|
| Founded | 1880 | 1907 |
| Headquarters | St. Paul, Minnesota | Birmingham, Alabama |
| Assets Under Management | $5.5 billion+ | $120 billion |
| Years in IUL Business | 10+ years | 15+ years |
| Number of IUL Products | 4 | 2 |
| Typical Cap Rate Range | 8% - 10% | 8% - 11% |
| 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 | 2-4 weeks standard |