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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 11/08/22 Minnesota Life Individual V… Acct N-6/A 11:5.1M Donnelley … Solutions/FA → Minnesota Life Individual Variable Universal Life Account ⇒ Variable Universal Life Survivor – SVUL |
Document/Exhibit Description Pages Size 1: N-6/A Pre-Effective Amendment to Registration Statement HTML 2.11M by a Variable Life Unit Investment Trust for a Separate Account 2: EX-99.30(D)(4) Miscellaneous Exhibit HTML 420K 3: EX-99.30(G)(1) Miscellaneous Exhibit HTML 220K 4: EX-99.30(G)(2) Miscellaneous Exhibit HTML 224K 5: EX-99.30(G)(3) Miscellaneous Exhibit HTML 214K 6: EX-99.30(G)(4) Miscellaneous Exhibit HTML 200K 7: EX-99.30(G)(5) Miscellaneous Exhibit HTML 210K 8: EX-99.30(H)(10)(IV) Miscellaneous Exhibit HTML 30K 10: EX-99.30(N) Miscellaneous Exhibit HTML 8K 9: EX-99.K Opinion and Consent HTML 10K 11: EX-99.S Val-Vul Power of Attorney HTML 26K
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Fees and Expenses |
Location in Prospectus | ||
Charges for Early Withdrawals |
If you surrender your Policy during the first ten Policy Years, we
will assess a Surrender Charge, which may significantly reduce
the Surrender Value. Because Policy Issue Charges can be
higher for Policies with greater Face Amounts, the Surrender
Charge, both as a dollar amount and as a percentage of the
Policy’s Face Amount, may increase for Policies with
higher Face Amounts. |
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For example, if you surrender your Policy within the first 10
Policy Years, you could pay a Surrender Charge of up to
$4,487.40 based on a $100,000 Face Amount, representing a
charge of 4.49% of the Policy’s Face Amount. |
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If you have elected the Early Values Agreement, the Surrender
Value will not be reduced by the Surrender Charge. |
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No Index Credit will be applied at surrender of the Policy prior
to the end of a Segment Term. |
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Transaction Charges |
In addition to Surrender Charges, we may assess certain
transaction charges. |
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•If you elect to make a Policy change, we may assess a Policy Change Transaction Charge, which is currently $95 per transaction; | |||
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•if you elect to take a partial surrender, we may assess a Partial Surrender Transaction Charge, which is 2% of the surrendered amount (not to exceed $25); or |
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•if you transfer Accumulation Value among the Sub-Accounts, the Guaranteed Interest Account and the Fixed Indexed Accounts, we may assess a Transfer Transaction Charge, which will not exceed $200 (we currently do not assess this charge). |
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•if you request more than one Illustrative Report in one year, we may assess an Illustrative Report Charge, which will not exceed $250 per Illustrative Report (we currently do not assess this charge). |
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•if you purchase and elect to exercise the Overloan Protection Agreement, we may assess a charge of up to 10% of the Policy’s Accumulation Value (we currently assess a charge equal to 5% of the Policy’s Accumulation Value). |
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Ongoing Fees and Expenses (annual charges) |
In addition to Surrender Charges and transaction charges, the
Policy is subject to certain ongoing charges and expenses,
including the Premium Charge, the Monthly Policy Charge, the
Policy Issue Charge, the Cost of Insurance Charge, a Mortality
and Expense Risk Charge, an Indexed Account Charge, an Index
Segment Charge, a Cash Extra Charge. and charges for any
Agreements you elect. These charges and fees are based on the
characteristics of the insureds, including each insured’s Age,
gender, Risk Class and the Face Amount. |
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You should refer to your Policy data pages for rates that are
applicable to your Policy. |
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Fees and Expenses |
Location in Prospectus | ||
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The table below describes the total annual portfolio operating
expenses (expenses that are deducted from Portfolio assets
include management fees, distribution or service (12b-1) fees,
and other expenses) that you will pay while you own the Policy.
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The table shows the minimum and maximum expenses (as a
percentage of Portfolio assets) charged by any of the Portfolios
for the fiscal year ended December 31, 2021. More details
concerning each Portfolio’s fees and expenses are
contained in Appendix A. |
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Annual Fee Portfolio Operating Expenses |
Minimum 0.13% |
Maximum 1.63% |
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Risks |
Location in Prospectus |
Risk of Loss |
You have the risk that you can lose money by investing in the Policy. |
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Not a Short-Term Investment |
The Policy is not a short-term investment and may not be appropriate for Policy Owners who need ready access to cash. The Policy combines both life insurance protection and the potential for the accumulation of cash values; however, it contains costs, such as cost of insurance, surrender charges, and other expenses that, in the short term, may reduce the amount of Accumulation Value available to the Policy Owner. |
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Risks Associated with Investment Options |
The Policy Accumulation Value, to the extent invested in a Sub-Account, is subject to the risk of poor investment performance and can vary with the positive or negative investment experience of the corresponding Portfolio. Each investment option, including any of the Variable Account Sub-Accounts, the Guaranteed Interest Account, or the Fixed Indexed Accounts, will each have its own unique risks. The Policy Owner should review these investment options before making an investment in the Policy. |
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Insurance Company Risks |
Guarantees provided by Minnesota Life as to the benefits promised in the Policy, such as payment of the Death Benefit and the Minnesota Life General Account investment options, are subject to the claims paying ability of Minnesota Life and are subject to the risk that Minnesota Life may default on its obligations under those guarantees. The Guaranteed Interest Account, the Fixed Indexed Accounts and the Fixed Loan Account are part of our General Account. Our General Account consists of all assets owned by us other than those in the
Variable Account and any other separate accounts which we may establish. Investors look to the financial strength of Minnesota Life for its insurance guarantees. Information about Minnesota Life, and its financial strength ratings, are available upon request. You may call us at 1-844-208-2412 for additional information or visit our website at www.securian.com/about- us/ratings. |
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Risks |
Location in Prospectus |
Contract Lapse |
There is the risk that the Policy may terminate. The Policy will terminate if it is in default unless sufficient premium payments are made or it remains in force under the Overloan Protection Agreement or the No Lapse Guarantee Agreement (if selected). If your Policy terminates, no Death Benefit will be paid upon the second death and all the Agreements added to the Policy will also terminate. Poor investment performance, insufficient premium payments, withdrawals, and loans are some of the factors that could cause your Policy to lapse.
As described in the “Termination” and “Reinstatement” sections of this prospectus,
Termination will only occur when the Accumulation Value
under the Policy, less the sum of any outstanding policy loans
and unpaid Policy Loan Interest, is insufficient to cover the
monthly charges, and the subsequent Grace Period expires
without sufficient payment being made to keep the Policy in
force. You may reinstate a terminated Policy, subject to certain
conditions, which include, providing evidence of insurability
satisfactory to us and payment of premiums or repayment of
Policy loans. Policy loans may increase the risk that the
Policy will terminate. If a Policy terminates with an
outstanding Policy loan, there may be significant adverse tax
consequences to the Owner. |
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Restrictions |
Location in Prospectus |
Investments |
•Accumulation Value in the Fixed Indexed Account Segments
are subject to the Policy’s transfer restrictions,
which may limit transfers out of the Fixed Indexed Accounts
to the end of a Segment Term, or which would lead to no Index
Credit being applied. |
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•We reserve the right to limit transfers to and from the
Guaranteed Interest Account to one transfer per Policy Year.
We also reserve the right to restrict the dollar amount of
any transfer to or from the Guaranteed Interest
Account. |
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•We reserve the right to require that the amount
transferred to or from a Sub-Account, Fixed Indexed Account
Segments, or the Guaranteed Interest Account be at least
$250. |
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•We reserve the right to remove a Sub-Account or substitute
another mutual fund or Portfolio for a
Sub-Account. |
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•When the No Lapse Guarantee Agreement is in effect: (i)
any Net Premiums allocated to any variable Sub-Account may be
limited to the maximum variable Sub-Account percentage and
(ii) no requested transfer or systematic transfer may be
allocated to a variable Sub-Account where the percentage of
the total accumulation value in the Sub-Account prior to the
requested transfer or systematic transfer exceeds the
maximum variable Sub-Account percentage. |
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Optional Benefits |
Any Agreements you elect may alter the benefits or charges in your Policy. Agreement availability and benefits may vary by state of issue or selling broker-dealer and their election may have tax consequences. Agreements may have restrictions or limitations, and we may modify or terminate an Agreement, as allowed. If you elect a particular Agreement, it may restrict or enhance the terms of your Policy, or restrict the availability or terms of other Agreements or Policy features. |
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Taxes |
Location in Prospectus |
Tax Implications |
You should consult with a tax professional to determine the tax implications of an investment in and payments received under the Policy. Full and Partial Surrenders could be subject to ordinary income tax, and, if your Policy is a MEC, partial surrenders and loans could be subject to tax penalties. |
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Conflicts of Interest |
Location in Prospectus |
Investment Professional Compensation |
We pay broker-dealers that sell our Policies a commission that is based upon the premium you pay for the Policy. The broker-dealers, in turn, pay their registered representatives all or
a portion of that commission for the sale. We may also pay
broker-dealers additional amounts in the form of revenue
sharing and marketing allowances for the sale of our Policies.
These broker-dealers and their registered representatives may
have a financial incentive to offer or recommend the Policy over
another investment. |
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Exchanges |
Some registered representatives may have a financial incentive to offer you a new Policy in place of the one you may already own. You should only exchange your existing Policy if you determine, after comparing the features, fees, and risks of both policies, that it is preferable for you to purchase the new Policy rather than continue your existing policy. |
Agreement |
Available post issue of the Policy |
Early Values Agreement |
Not available |
Estate Preservation Agreement |
Not available |
No Lapse Guarantee Agreement |
Not available |
Agreement |
Available post issue of the Policy |
Overloan Protection Agreement |
Not available |
Policy Split Agreement* |
Available |
Premium Deposit Account Agreement* |
Available |
Term Insurance Agreement |
Not available |
Charge |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Charge |
Current Charge | ||
Premium Charge(1) |
Upon premium payment, expressed as a percentage of premium payment |
10 percent |
5.5 percent |
Transfer Transaction Charge |
Upon transfer of Accumulation Value among the Sub-Accounts, the Guaranteed Interest Account and the Fixed Indexed Accounts |
$200 |
$0 |
Policy Change Transaction Charge |
Upon change in Face Amount, Death Benefit option, or Risk Class |
$200 |
$95 |
Surrender Charge(2)(3) |
When you surrender your Policy during the first 10 Policy Years, expressed as an amount of Face Amount |
$15.46 per $1,000 - $45.06 per $1,000 |
$15.46 per $1,000 - $45.06 per $1,000 |
Charge for Representative Insureds, Male and Female, Both Age 55, Preferred Select Risk Class, with Level Option Death Benefit in Policy Year 1 |
When you surrender your Policy during the first 10 Policy Years, expressed as an amount of Face Amount |
$31.56 per $1,000 |
$31.56 per $1,000 |
Charge |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Charge |
Current Charge | ||
Partial Surrender Transaction Charge |
Upon partial surrender, expressed as a percentage of amount surrendered |
2 percent, not to exceed $25 |
2 percent, not to exceed $25 |
Illustrative Report Charge(4) |
When an additional Illustrative Report is requested |
$250 per Illustrative Report |
$0 per Illustrative Report |
Overloan Protection Agreement |
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Maximum Charge |
Upon exercise of Agreement, expressed as a percentage of Policy Accumulation Value upon exercise of Agreement |
10 percent |
5 percent |
Charge |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Charge |
Current Charge | ||
Monthly Policy Charge |
Monthly, expressed as an amount of Face Amount |
$30 plus $0.0125 per $1,000 |
$20 |
Policy Issue Charge(1) |
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Maximum Charge(2) |
Monthly, within the first ten Policy Years, expressed as an amount of Face Amount |
$1.44 per $1,000 |
$1.44 per $1,000 |
Minimum Charge(3) |
Monthly, within the first ten Policy Years, expressed as an amount of Face Amount |
$.18 per $1,000 |
$.18 per $1,000 |
Charge |
When Charge is
Deducted |
Amount Deducted | |
Guaranteed Charge |
Current Charge | ||
Charge for Representative Insureds, Male and Female, Both Age 55, Preferred Select Risk Class, with Level Option Death Benefit, $2,000,000 Face Amount |
Monthly, within the first ten Policy Years, expressed as an amount of Face Amount |
$.29 per $1,000 |
$.29 per $1,000 |
Cost of Insurance Charge(4) |
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Maximum Charge |
Monthly, expressed as an amount of Net Amount at Risk |
$83.33 per $1,000 |
$83.33 per $1,000 |
Minimum Charge |
Monthly, expressed as an amount of Net Amount at Risk |
$0.00002 per $1,000 |
$0.00001 per $1,000 |
Charge for Representative Insureds, Male and Female, Both Age 55, Preferred Select Risk Class, with Level Option Death Benefit in Policy Year 1 |
Monthly, expressed as an amount of Net Amount at Risk |
$0.00215 per $1,000 |
$0.00027 per $1,000 |
Mortality and Expense Risk Charge |
Monthly, expressed as a percentage of the Policy Accumulation Value |
0.96 percent annually(0.08 percent monthly) |
0.30 percent annually through Policy Year 15(0.025 percent monthly through Policy Year 15) |
Cash Extra Charge(5) |
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Maximum Charge |
Monthly |
$200 per $1,000 |
$200 per $1,000 |
Minimum Charge |
Monthly |
$0 |
$0 |
Charge for Representative Insureds, Male and Female, Both Age 50, Standard Non-Tobacco Risk Class |
Monthly |
$0.01 per $1,000 |
$0.01 per $1,000 |
Net Fixed Interest Rate Policy Loan Interest Charge (6) |
Annually, on each Policy Anniversary, and upon a policy loan transaction, full surrender, policy Termination or upon the second death, expressed as a percentage of interest on outstanding policy fixed rate loan balance |
For policies in force less than ten years, 1.0 percent annual rate |
For policies in force less than ten years, 1.0 percent annual rate. For policies in force more than ten years, 0.10 percent annual rate |
Charge |
When Charge is
Deducted |
Amount Deducted | |
Guaranteed Charge |
Current Charge | ||
Variable Rate Policy Loan Interest Charge |
Annually, on each Policy Anniversary, and upon a policy loan transaction, full surrender, policy Termination or upon the second death, expressed as a percentage of interest on outstanding policy variable rate loan balance |
The greater of: (1) the published monthly average (Moody’s Corporate Bond Yield Average- Monthly Average Corporates) as published by Moody’s Investors Service, Inc. or its successor for the calendar month ending two months prior to the date the rate of interest for the policy loan is determined,
and (2) the guaranteed interest rate for the Guaranteed Interest Account plus one (1) percent per annum. |
4.5 percent |
Charge for Agreement(1) |
When Charge is
Deducted |
Amount Deducted | |
Guaranteed Charge* |
Current Charge | ||
Term Insurance Agreement |
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Maximum Charge(1) |
Monthly, expressed as an amount of Agreement coverage |
$36.18 per $1,000 |
$25.98 per $1,000 |
Minimum Charge(2) |
Monthly, expressed as an amount of Agreement coverage |
$0.00002 per $1,000 |
$0.00001 per $1,000 |
Charge for
Agreement(1) |
When Charge is
Deducted |
Amount Deducted | |
Guaranteed Charge* |
Current Charge | ||
Charge for Representative Insureds, Male and Female, Both Age 55, Preferred Select Risk Class, with Level Option Death Benefit(3) |
Monthly, expressed as an amount of Agreement coverage |
$0.00215 per $1,000 |
$0.00028 per $1,000 |
No Lapse Guarantee Agreement |
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Maximum Charge(4) |
Monthly, expressed as an amount of Face Amount |
$.25 per $1,000 |
$.25 per $1,000 |
Minimum Charge(5) |
Monthly, expressed as an amount of Face Amount |
$.05 per $1,000 |
$.05 per $1,000 |
Charge for Representative Insureds, Male and Female, Both Age 55, Preferred Select Risk Class, with Level Option Death Benefit |
Monthly, expressed as an amount of Face Amount |
$.10 per $1,000 |
$.10 per $1,000 |
Early Values Agreement(6) |
Monthly, expressed as a percentage of Accumulation Value less any Policy loans |
.60 percent annually (.05percent monthly) |
.48 percent annually (.04 percent monthly) |
Charge |
Minimum |
Maximum |
Total Annual Portfolio Operating Expenses (expenses that are deducted from
Portfolio assets include management fees, distribution or service (12b-1)
fees, and other expenses) |
0.13% |
1.63% |
State |
Rider or Feature |
Availability or Variation |
Florida |
Restrictions on Transfers to and from General Account |
Our ability to restrict transfers to and from our General Account for
Policies issued in Florida include: (1) we may restrict up to 20% of
your allocation of premium to the General Account options;
(2) we many restrict the dollar amount of any transfer to the
Guaranteed Interest Account or to the Fixed Indexed Accounts
to be no more than 20% of your Accumulation Value; and (3) we
may restrict the amount of any fixed interest rate loan
repayment allocated to the Guaranteed Interest Account or to
the Fixed Indexed Accounts to be no more than 20% of your
outstanding loan balance. |
Growth Caps |
Indexed segment created or resulting from a transfer from a prior segment in: |
Indexed Account A |
Indexed Account B |
Indexed Account G |
|
XX 2022 and later |
6.50% |
4.25% |
No Limit |
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Participation Rates |
Participation rate for indexed segments created or resulting from a transfer from a prior segment in: |
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XX 2022 and later |
100% |
140% |
50% | |
Guaranteed participation rate |
100% |
140% |
10% |
(1,050 - 1,000) |
= |
5.00% |
1,000 |
5.00% × $10,000 |
= |
$500 |
(1,200 - 1,000) |
= |
20.00% |
1,000 |
9.00%× $10,000 |
= |
$900 |
(700 - 1,000) |
= |
-30.00% |
1,000 |
(1,050 - 1,000) |
= |
5.00% |
1,000 |
7.00% × $10,000 |
= |
$700 |
(1,200 - 1,000) |
= |
20.00% |
1,000 |
8.40% × $10,000 |
= |
$840 |
(700 - 1,000) |
= |
-30.00% |
1,000 |
(1,050 - 1,000) |
= |
5.00% |
1,000 |
4.25% × $10,000 |
= |
$425 |
(700 - 1,000) |
= |
-30.00% |
1,000 |
Year |
Fixed Indexed Account Information |
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Participation Rate: Growth Cap |
100%
9% |
(assumed constant over 5 year period) |
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Annual Increase in
External Index |
Growth Cap |
Segment Growth Rate |
Accumulation Value Before Index Credit |
Index Credit |
Accumulation
Value After Index Credit |
Guaranteed
Minimum
Accumulation
Value (using
2% Interest
Credit) |
Greater of
Fixed Indexed
Account and
Guaranteed
Minimum
Accumulation
Value | |
1 |
-10% |
9% |
-10.00% |
880 |
- |
880 |
899 |
899 |
2 |
-15% |
9% |
-15.00% |
1,760 |
- |
1,760 |
1,815 |
1,815 |
3 |
7% |
9% |
7.00% |
2,640 |
185 |
2,825 |
2,750 |
2,825 |
4 |
16% |
9% |
9.00% |
3,705 |
333 |
4,038 |
3,704 |
4,038 |
5 |
20% |
9% |
9.00% |
4,918 |
443 |
5,361 |
4,677 |
5,361 |
Account |
Accumulation Value |
Guaranteed Minimum
Accumulation Value |
Guaranteed Interest Account |
$0 |
$0 |
Fixed Indexed Accounts |
$0 |
$55 |
Total |
$0 |
$55 |
Sub-Account |
Annual Unit
Value Credit |
AB Dynamic Asset Allocation Portfolio – Class B Shares |
0.08 |
AB International Value Portfolio – Class A Shares |
0.00 |
American Century VP Disciplined Core Value Fund – Class I Shares |
0.00 |
American Century VP Inflation Protection Fund – Class I Shares |
0.00 |
American Funds Capital World Bond Fund – Class 1 Shares |
0.00 |
American Funds Global Small Capitalization Fund – Class 1 Shares |
0.00 |
American Funds Growth Fund – Class 1 Shares |
0.00 |
American Funds Growth-Income Fund – Class 1 Shares |
0.00 |
American Funds International Fund – Class 1 Shares |
0.00 |
American Funds New
World® Fund
– Class 1 Shares |
0.00 |
American Funds U.S. Government Securities Fund – Class 1 Shares |
0.00 |
BlackRock International Index V.I. Fund – Class I Shares |
0.02 |
BlackRock Small Cap Index V.I. Fund – Class I Shares |
0.02 |
ClearBridge Variable Small Cap Growth Portfolio – Class I Shares |
0.07 |
Delaware Ivy VIP Asset Strategy – Class II Shares |
0.12 |
Delaware Ivy VIP Core Equity – Class II Shares |
0.12 |
Delaware Ivy VIP Global Growth – Class II Shares |
0.12 |
Delaware Ivy VIP International Core Equity – Class II Shares |
0.12 |
Delaware Ivy VIP Mid Cap Growth – Class II Shares |
0.12 |
Delaware Ivy VIP Pathfinder Moderate – Managed Volatility – Class II Shares |
0.07 |
Delaware Ivy VIP Science and Technology – Class II Shares |
0.12 |
Sub-Account |
Annual Unit Value Credit |
Delaware Ivy VIP Smid Cap Core – Class II Shares |
0.12 |
Fidelity® Bond Index Portfolio – Initial Class Shares |
0.02 |
Fidelity® Equity-Income Portfolio – Initial Class Shares |
0.03 |
Fidelity® Mid Cap Portfolio – Initial Class Shares |
0.03 |
Franklin Small Cap Value VIP Fund – Class 1 Shares |
0.04 |
Invesco Oppenheimer V.I. International Growth Fund – Series I Shares |
0.04 |
Invesco V.I. American Value Fund – Series I Shares |
0.04 |
Invesco V.I. Comstock Fund – Series I Shares |
0.04 |
Invesco V.I. Main Street Small Cap Fund® – Series I
Shares |
0.10 |
Janus Henderson Balanced Portfolio – Institutional Shares |
0.00 |
Janus Henderson Flexible Bond Portfolio – Institutional Shares |
0.00 |
Janus Henderson Forty Portfolio – Institutional Shares |
0.00 |
Janus Henderson Mid Cap Value Portfolio – Institutional Shares |
0.00 |
Janus Henderson Overseas Portfolio – Institutional Shares |
0.00 |
MFS® International Intrinsic Value Portfolio – Initial Class |
0.05 |
MFS® Mid Cap Growth Series – Initial Class |
0.05 |
Morgan Stanley VIF Emerging Markets Equity Portfolio – Class II Shares |
0.13 |
Morningstar Aggressive Growth ETF Asset Allocation Portfolio – Class I Shares |
0.06 |
Morningstar Balanced ETF Asset Allocation Portfolio – Class I Shares |
0.06 |
Morningstar Conservative ETF Asset Allocation Portfolio – Class I Shares |
0.06 |
Morningstar Growth ETF Asset Allocation Portfolio – Class I Shares |
0.06 |
Morningstar Income and Growth ETF Asset Allocation Portfolio – Class I Shares |
0.06 |
Neuberger Berman AMT Sustainable Equity Portfolio – I Class Shares |
0.00 |
PIMCO VIT Global Diversified Allocation Portfolio – Advisor Class Shares |
0.07 |
PIMCO VIT International Bond Portfolio (U.S. Dollar-Hedged) – Advisor Class Shares |
0.00 |
PIMCO VIT Low Duration Portfolio – Institutional Class Shares |
0.00 |
PIMCO VIT Total Return Portfolio – Institutional Class Shares |
0.00 |
Putnam VT Growth Opportunities Fund – Class IA Shares |
0.00 |
Putnam VT International Equity Fund – Class IA Shares |
0.00 |
Putnam VT International Value Fund – Class IA Shares |
0.00 |
Putnam VT Large Cap Value Fund – Class IA Shares |
0.00 |
SFT Balanced Stabilization Fund |
0.07 |
SFT Core Bond Fund – Class 1 Shares |
0.02 |
SFT Delaware IvySM Growth Fund |
0.12 |
SFT Delaware IvySM Small Cap Growth Fund |
0.12 |
SFT Equity Stabilization Fund |
0.07 |
SFT Government Money Market Fund |
0.07 |
SFT Index 400 Mid-Cap Fund – Class 1 Shares |
0.02 |
Sub-Account |
Annual Unit Value Credit |
SFT Index 500 Fund – Class 1 Shares |
0.03 |
SFT International Bond Fund – Class 1 Shares |
0.00 |
SFT Real Estate Securities Fund – Class 1 Shares |
0.03 |
SFT T. Rowe Price Value Fund |
0.12 |
SFT Wellington Core Equity Fund – Class 1 Shares |
0.06 |
TOPS® Managed Risk Flex ETF Portfolio |
0.07 |
TOPS® Target RangeTM Portfolio – Class S Shares |
0.00 |
T. Rowe Price Health Sciences Portfolio – II Class |
0.00 |
Vanguard® Balanced Portfolio |
0.00 |
Vanguard® Capital Growth Portfolio |
0.00 |
Vanguard® Diversified Value Portfolio |
0.00 |
Vanguard® Equity Income Portfolio |
0.00 |
Vanguard® High Yield Bond Portfolio |
0.00 |
Vanguard® International Portfolio |
0.00 |
Vanguard® Short-Term Investment-Grade Portfolio |
0.00 |
Vanguard® Small Company Growth Portfolio |
0.00 |
Vanguard® Total Bond Market Index Portfolio |
0.00 |
Vanguard® Total Stock Market Index Portfolio |
0.00 |
Age |
Limitation Percentage |
40 and under |
250% |
41 to 45 |
250% minus 7% for each year over Age 40 |
46 to 50 |
215% minus 6% for each year over Age 45 |
51 to 55 |
185% minus 7% for each year over Age 50 |
56 to 60 |
150% minus 4% for each year over Age 55 |
61 to 65 |
130% minus 2% for each year over Age 60 |
66 to 70 |
120% minus 1% for each year over Age 65 |
71 to 75 |
115% minus 2% for each year over Age 70 |
76 to 90 |
105% |
91 to 95 |
105% minus 1% for each year over Age 90 |
96 to 121 |
100% |
Name of Benefit |
Purpose |
Is Benefit
Standard or
Optional |
Brief Description of
Restrictions/Limitations |
Term Insurance Agreement |
Provides additional
one-year level term
insurance payable at the
second death. |
Optional |
•Subject to the
insureds providing
evidence of
insurability |
|
|
•Agreement only
available at Policy
issue |
Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
Overloan Protection Agreement |
Provides protection
against Policy
Termination in the event
Policy Charges exceed
the Policy Accumulation
Value |
Optional |
•Policy Owner must
elect the Guideline
Premium Test |
|
|
•Agreement only
available at Policy
issue | |
Early Values Agreement |
Waives the Surrender
Charge that would
ordinarily apply to the
Policy of the Policy
without providing
evidence of the insureds’
insurability |
Optional |
•Not available with the
No Lapse Guarantee
Agreement |
|
|
•Agreement only
available at Policy
issue | |
Premium Deposit Account Agreement |
Provides the Policy Owner with an option to deposit funds into an account to ensure that planned Premium payments are made on the Policy Anniversary |
Optional |
May only have one Premium Deposit Account per Policy |
Estate Preservation Agreement |
Guarantees the Policy
Owner the right to
purchase additional
amounts of term
insurance on the
surviving insured’s life
without providing
evidence of insurability |
Optional |
•If both insureds
die simultaneously,
the Agreement does
not pay a benefit |
|
|
•Agreement only
available at Policy
issue | |
Policy Split Agreement |
Provides for the split of the Policy into two policies of single life flexible premium universal life insurance without providing evidence of the insureds’ insurability |
Optional |
Only exercisable if: (1) both insureds are under Age 75 and living on the effective date of issue of the new policies; (2) neither insured is in an uninsurable risk class; and (3) the request is made within six months of: (i) the amendment of the Code to eliminate the unlimited federal estate tax marital
deduction with respect to the insureds; (ii) the amendment to the Code to reduce the maximum estate tax rate by 50% or more; the amendment to the Code to reduce the maximum estate tax exemption amount by 50% or more; or the insureds’ final decree of divorce. |
Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
No Lapse Guarantee Agreement |
Provides the Policy will
remain in force even if
the Accumulation Value
is not sufficient to cover
monthly charges when
due as long as the NLGA
value (as defined in the
Agreement) is sufficient
to cover any charges
against the NLGA value
and the sum of any
outstanding policy loans
and any unpaid policy
loan interest does not
exceed the Accumulation
Value |
Optional |
•The percentage of any
Net Premiums
allocated to any
variable Sub-Account
may be limited to the
maximum variable
Sub-Account
percentage |
|
|
•Agreement only
available at Policy
issue | |
Other Policy Features |
|
|
|
Dollar Cost Averaging |
Allows for allocation of money from the General Account to sub-accounts evenly over a period of time |
Optional |
Dollar cost averaging transfers will only take place on the Interim Account Transfer Date |
Rebalancing |
Automatically reallocates money among each of the chosen Sub-Accounts on set dates throughout the year |
Optional |
Rebalancing is subject to our limitations on market-timing and frequent trading activities and Portfolio limitations on the frequent purchase and redemption of shares |
Systematic Transfers |
Automatically transfers money from one Sub-Account to one or more other Sub-Accounts on specified dates |
Optional |
Systematic transfers are subject to our limitations on market-timing and frequent trading activities and Portfolio limitations on the frequent purchase and redemption of shares |
Annual Premium
Payment Year |
Annual Premium
to be Paid |
Amount Withdrawn
from PDA |
Taxable Interest
Earned |
2 |
$10,000.00 |
$9,732.36 |
$267.64 |
3 |
$10,000.00 |
$9,471.88 |
$528.12 |
4 |
$10,000.00 |
$9,218.38 |
$781.62 |
5 |
$10,000.00 |
$8,971.66 |
$1,028.34 |
6 |
$10,000.00 |
$8,731.54 |
$1,268.46 |
7 |
$10,000.00 |
$8,497.85 |
$1,502.15 |
8 |
$10,000.00 |
$8,270.41 |
$1,729.59 |
9 |
$10,000.00 |
$8,049.06 |
$1,950.94 |
10 |
$10,000.00 |
$7,833.64 |
$2,166.36 |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of 12/31/2021) | ||
|
|
|
1 year |
5 year |
10 year |
AB Variable Products Series Fund, Inc. | |||||
Seeks to maximize total return
consistent with the Adviser's
determination of reasonable risk. |
Dynamic Asset Allocation
Portfolio
– Class B
Shares* Investment Adviser: AllianceBernstein L.P. |
1.07%² |
9.28% |
6.94% |
6.04% |
The Portfolio’s investment objective is
long-term growth of capital. |
International Value Portfolio
– Class A
Shares Investment Adviser: AllianceBernstein L.P. |
0.90% |
11.08% |
5.24% |
5.70% |
AIM Variable Insurance Funds (Invesco Variable Insurance
Funds) | |||||
Seeks capital appreciation. |
Invesco Oppenheimer V.I.
International
Growth Fund – Series I Shares Investment Adviser: Invesco
Advisers, Inc. |
1.00%² |
10.22% |
11.88% |
9.74% |
Long-term capital appreciation. |
Invesco V.I. American Value
Fund –
Series I Shares
Investment Adviser: Invesco Advisers, Inc. |
0.88% |
27.95% |
9.22% |
10.92% |
Seeks capital growth and income
through investments in equity
securities, including common stocks,
preferred stocks and securities
convertible into common and preferred
stocks. |
Invesco V.I. Comstock Fund
– Series
I Shares Investment Adviser: Invesco Advisers, Inc. |
0.74% |
33.36% |
11.39% |
12.86% |
Seeks capital appreciation. |
Invesco V.I. Main Street
Small Cap
Fund® – Series I Shares
Investment Adviser: Invesco Advisers, Inc. |
0.84% |
22.55% |
13.73% |
14.69% |
ALPS Variable Investment Trust (Morningstar)
| |||||
Seeks to provide investors with capital
appreciation. |
Morningstar Aggressive Growth
ETF Asset
Allocation Portfolio – Class I Shares Investment Adviser: ALPS Advisors,
Inc.
Subadviser: Morningstar Investment Management LLC |
0.65%² |
18.60% |
11.83% |
10.43% |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of 12/31/2021) | ||
|
|
|
1 year |
5 year |
10 year |
Seeks to provide investors with capital
appreciation and some current income. |
Morningstar Balanced ETF
Asset
Allocation Portfolio –
Class I
Shares
Investment Adviser: ALPS Advisors, Inc. Subadviser: Morningstar Investment
Management LLC |
0.65% |
11.00% |
8.62% |
7.71% |
Seeks to provide investors with current
income and preservation of capital. |
Morningstar Conservative ETF
Asset
Allocation Portfolio – Class I Shares Investment Adviser: ALPS Advisors,
Inc.
Subadviser: Morningstar Investment Management LLC |
0.63%² |
2.51% |
4.60% |
3.81% |
Seeks to provide investors with capital
appreciation. |
Morningstar Growth ETF Asset
Allocation
Portfolio – Class I Shares Investment Adviser: ALPS Advisors,
Inc.
Subadviser: Morningstar Investment Management LLC |
0.65% |
15.09% |
10.58% |
9.43% |
Seeks to provide investors with current
income and capital appreciation. |
Morningstar Income and Growth
ETF Asset
Allocation Portfolio – Class I Shares Investment Adviser: ALPS Advisors,
Inc.
Subadviser: Morningstar Investment Management LLC |
0.64%² |
6.66% |
6.77% |
5.81% |
American Century Variable Portfolios, Inc.
| |||||
The fund seeks capital growth by
investing in common stocks. Income is
a secondary objective. |
VP Disciplined Core Value
Fund –
Class I Shares
Investment Adviser: American Century Investment Management, Inc. |
0.70% |
23.65% |
13.96% |
13.69% |
American Century Variable Portfolios II, Inc.
| |||||
The fund pursues long-term total
return using a strategy that seeks to
protect against U.S. inflation. |
VP Inflation Protection Fund
– Class I
Shares Investment Adviser: American Century Investment Management, Inc. |
0.46% |
6.61% |
5.29% |
3.07% |
American Funds Insurance Series® | |||||
The fund’s investment objective is to
provide you, over the long term, with a
high level of total return consistent
with prudent investment management.
Total return comprises the income
generated by the fund and the changes
in the market value of the fund’s
investments. |
Capital World Bond Fund
– Class 1
Shares
Investment Adviser: Capital Research and Management Company |
0.50% |
-4.73% |
3.74% |
2.32% |
The fund’s investment objective is to
provide long-term growth of capital. |
Global Small Capitalization
Fund –
Class 1 Shares
Investment Adviser: Capital Research and Management Company |
0.65%² |
6.98% |
15.74% |
12.79% |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of 12/31/2021) | ||
|
|
|
1 year |
5 year |
10 year |
The fund’s investment objective is to
provide growth of capital. |
Growth Fund – Class 1
Shares Investment Adviser: Capital Research and Management Company |
0.35% |
22.30% |
25.75% |
20.01% |
The fund’s investment objectives are to
achieve long-term growth of capital and
income. |
Growth-Income Fund –
Class 1
Shares
Investment Adviser: Capital Research and Management Company |
0.29% |
24.42% |
16.68% |
15.70% |
The fund’s investment objective is to
provide long-term growth of capital. |
International Fund –
Class 1 Shares Investment Adviser: Capital Research and Management Company |
0.54% |
-1.23% |
9.91% |
8.40% |
The fund’s investment objective is
long-term capital appreciation. |
New World Fund® – Class 1 Shares
Investment Adviser: Capital Research and Management Company |
0.57%² |
5.16% |
13.53% |
8.94% |
The fund’s investment objective is to
provide a high level of current income
consistent with prudent investment
risk and preservation of capital. |
U.S. Government Securities
Fund –
Class 1 Shares
Investment Adviser: Capital Research and Management Company |
0.22%² |
-0.44% |
3.55% |
2.55% |
BlackRock Variable Series Funds, Inc. | |||||
Seeks to match the performance of the
MSCI EAFE Index (Europe,
Australasia, Far East) (the “MSCI
EAFE Index” or the “Underlying
Index”) in U.S. dollars with net
dividends as closely as possible before
the deduction of Fund expenses. |
BlackRock International Index
V.I. Fund
– Class I Shares Investment
Adviser: BlackRock Advisors, LLC |
0.25%² |
11.30% |
9.61% |
7.80% |
Seeks to match the performance of the
Russell 2000®Index (the “Russell
2000” or the “Underlying Index”) as closely
as possible before the deduction of
Fund expenses. |
BlackRock Small Cap Index
V.I. Fund
– Class I Shares Investment
Adviser: BlackRock Advisors, LLC |
0.21%² |
14.57% |
11.85% |
12.92% |
Fidelity® Variable
Insurance Products Funds | |||||
Seeks to provide investment results that
correspond to the aggregate price and
interest performance of the debt
securities in the Bloomberg Barclays
U.S. Aggregate Bond Index. |
Bond Index Portfolio –
Initial Class
Shares Investment Adviser: Fidelity Management & Research Company LLC (FMR) Subadviser: Other investment
advisers serve as sub-advisers for the
fund. |
0.14% |
-1.95% |
— |
— |
Seeks reasonable income and the
potential for capital appreciation. The
fund’s goal is to achieve a yield which
exceeds the composite yield on the
securities comprising the Standard &
Poor’s 500SM Index (S&P 500®). |
Equity-Income Portfolio
– Initial
Class Shares
Investment Adviser: Fidelity Management & Research Company LLC (FMR) Subadviser: Other investment
advisers serve as sub-advisers for the
fund. |
0.51% |
24.89% |
11.95% |
12.53% |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of 12/31/2021) | ||
|
|
|
1 year |
5 year |
10 year |
Seeks long-term growth of capital. |
Mid Cap Portfolio –
Initial Class
Shares Investment Adviser: Fidelity Management & Research Company LLC (FMR) Subadviser: Other investment
advisers serve as sub-advisers for the
fund. |
0.61% |
25.60% |
13.60% |
13.29% |
Franklin Templeton Variable Insurance Products
Trust | |||||
Seeks long-term total return. |
Franklin Small Cap Value VIP
Fund –
Class 1 Shares Investment Adviser: Franklin Mutual Advisers, LLC |
0.66% |
25.67% |
10.21% |
12.41% |
Ivy Variable Insurance Portfolios |
|||||
To seek to provide total return. |
Delaware Ivy VIP Asset
Strategy –
Class II Shares
Investment Adviser: Delaware Management Company Subadviser: Macquarie Investment
Management Austria Kapitalanlage
AG, Macquarie Funds Management
Hong Kong Limited, Macquarie
Investment Management Global
Limited, and Macquarie Investment
Management Europe Limited |
0.87%² |
10.44% |
11.36% |
8.01% |
To seek to provide capital growth and
appreciation. |
Delaware Ivy VIP Core Equity
– Class
II Shares Investment Adviser: Delaware Management Company Subadviser: Macquarie Funds
Management Hong Kong Limited and
Macquarie Investment Management
Global Limited |
0.95%² |
28.94% |
18.82% |
15.53% |
To seek to provide capital growth and
appreciation. |
Delaware Ivy VIP
International
Core Equity – Class II
Shares Investment Adviser: Delaware Management Company Subadviser: Macquarie Funds
Management Hong Kong Limited and
Macquarie Investment Management
Global Limited |
1.16% |
14.18% |
8.01% |
7.77% |
To seek to provide growth of capital. |
Delaware Ivy VIP Mid Cap
Growth –
Class II Shares Investment Adviser: Delaware Management Company Subadviser: Macquarie Funds
Management Hong Kong Limited and
Macquarie Investment Management
Global Limited |
1.10%² |
16.36% |
24.85% |
17.05% |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of 12/31/2021) | ||
|
|
|
1 year |
5 year |
10 year |
To seek to provide growth of capital. |
Delaware Ivy VIP Science and
Technology
– Class II Shares Investment
Adviser: Delaware Management Company Subadviser: Macquarie Funds
Management Hong Kong Limited and
Macquarie Investment Management
Global Limited |
1.14% |
15.17% |
23.88% |
19.46% |
To seek to provide capital appreciation. |
Delaware Ivy VIP Smid Cap
Core –
Class II Shares
Investment Adviser: Delaware Management Company Subadviser: Macquarie Funds
Management Hong Kong Limited and
Macquarie Investment Management
Global Limited |
1.17% |
20.78% |
10.35% |
12.94% |
To seek to provide total return
consistent with a moderate level of risk
as compared to the other Ivy VIP
Pathfinder Managed Volatility
Portfolios, while seeking to manage
volatility of investment return. |
Delaware Ivy VIP Pathfinder
Moderate -
Managed Volatility – Class II Shares* Investment Adviser: Delaware
Management Company
Subadviser: Securian Asset Management, Inc., Macquarie Investment Management Austria Kapitalanlage AG, Macquarie Funds Management Hong Kong Limited, Macquarie Investment Management Global Limited, and Macquarie Investment Management Europe Limited |
1.10% |
12.99% |
9.57% |
— |
Janus Aspen Series | |||||
Seeks long-term capital growth,
consistent with preservation of capital
and balanced by current income. |
Janus Henderson Balanced
Portfolio
– Institutional Shares Investment
Adviser: Janus Henderson Investors US LLC |
0.62% |
17.20% |
14.39% |
11.81% |
Seeks to obtain maximum total return,
consistent with preservation of capital. |
Janus Henderson Flexible Bond
Portfolio
– Institutional Shares Investment
Adviser: Janus Henderson Investors US LLC |
0.57%² |
-0.90% |
4.24% |
3.68% |
Seeks long-term growth of capital. |
Janus Henderson Forty
Portfolio –
Institutional
Shares Investment Adviser: Janus Henderson Investors US LLC |
0.77% |
22.90% |
25.58% |
20.29% |
Seeks capital appreciation. |
Janus Henderson Mid Cap Value
Portfolio
– Institutional Shares Investment
Adviser: Janus Henderson Investors US LLC |
0.67% |
19.73% |
8.76% |
10.30% |
Seeks long-term growth of capital. |
Janus Henderson Overseas
Portfolio
– Institutional Shares Investment
Adviser: Janus Henderson Investors US LLC |
0.87% |
13.58% |
13.35% |
6.25% |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of 12/31/2021) | ||
|
|
|
1 year |
5 year |
10 year |
Legg Mason Partners Variable Equity Trust | |||||
Seeks long-term growth of capital. |
ClearBridge Variable Small
Cap Growth
Portfolio – Class I Shares
Investment Adviser: Legg Mason Partners Fund Advisor, LLC Subadviser: ClearBridge Investments,
LLC |
0.80% |
12.61% |
21.34% |
17.14% |
MFS® Variable
Insurance Trust | |||||
To seek capital appreciation. |
MFS® Mid Cap Growth Series –
Initial Class
Investment Adviser: Massachusetts Financial Services Company |
0.80%² |
14.11% |
22.66% |
18.20% |
MFS® Variable
Insurance Trust II | |||||
To seek capital appreciation. |
MFS® International Intrinsic Value
Portfolio – Initial
Class Investment Adviser: Massachusetts Financial Services Company |
0.89%² |
10.55% |
14.07% |
12.43% |
Morgan Stanley Variable Insurance Fund, Inc.
| |||||
Seeks long-term capital appreciation by
investing primarily in growth-oriented
equity securities of issuers in emerging
market countries. |
Emerging Markets Equity
Portfolio
– Class II
Shares Investment Adviser: Morgan Stanley Investment Management Inc. Subadviser: Morgan Stanley
Investment Management Company |
1.30%² |
2.95% |
9.41% |
5.38% |
Neuberger Berman Advisers Management Trust
| |||||
The fund seeks long-term growth of
capital by investing primarily in
securities of companies that meet the
Fund’s financial criteria and social
policy. |
Neuberger Berman AMT
Sustainable
Equity Portfolio – I Class Shares Investment Adviser: Neuberger
Berman Investment Advisers LLC |
0.89% |
23.48% |
15.72% |
14.36% |
Northern Lights Variable Trust (TOPS) | |||||
Seeks to provide income and capital
appreciation with less volatility than
the fixed income and equity markets as
a whole. |
TOPS® Managed Risk Flex ETF
Portfolio*
Investment Adviser: Valmark Advisers, Inc. Subadviser: Milliman Financial Risk
Management LLC |
0.96% |
8.79% |
6.40% |
— |
Seeks to provide capital appreciation,
with a secondary objective of hedging
risk. |
TOPS® Target RangeTM Portfolio – Class S Shares Investment Adviser: Valmark
Advisers, Inc.
Subadviser: Milliman Financial Risk Management LLC |
0.97% |
— |
— |
— |
PIMCO Variable Insurance Trust |
|||||
Seeks to maximize risk-adjusted total
return relative to a blend of 60% MSCI
World Index 40% Bloomberg Barclays
U.S. Aggregate Index. |
PIMCO VIT Global Diversified
Allocation
Portfolio – Advisor Class Shares* Investment Adviser: Pacific
Investment Management Company
LLC (“PIMCO”) |
1.10%² |
8.51% |
7.84% |
— |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of 12/31/2021) | ||
|
|
|
1 year |
5 year |
10 year |
Seeks maximum total return,
consistent with preservation of capital
and prudent investment management. |
PIMCO VIT International Bond
Portfolio (U.S.
Dollar-Hedged) – Advisor Class Shares Investment Adviser: Pacific
Investment Management Company
LLC (“PIMCO”) |
1.01% |
-2.05% |
2.95% |
— |
Seeks maximum total return,
consistent with preservation of capital
and prudent investment management. |
PIMCO VIT Low Duration
Portfolio
– Institutional Class
Shares Investment Adviser: Pacific Investment Management Company LLC (“PIMCO”) |
0.50% |
-0.78% |
1.69% |
1.74% |
Seeks maximum total return,
consistent with preservation of capital
and prudent investment management. |
PIMCO VIT Total Return
Portfolio
– Institutional Class
Shares Investment Adviser: Pacific Investment Management Company LLC (“PIMCO”) |
0.50% |
-1.12% |
4.09% |
3.59% |
Putnam Variable Trust | |||||
Seeks capital appreciation. |
Putnam VT Growth
Opportunities
Fund – Class IA
Shares Investment Adviser: Putnam Investment Management, LLC |
0.64% |
23.00% |
25.87% |
20.16% |
Seeks capital appreciation. |
Putnam VT International
Equity Fund
– Class IA Shares Investment
Adviser: Putnam Investment Management, LLC |
0.83% |
9.09% |
9.62% |
8.59% |
Seeks capital growth. Current income is
a secondary objective. |
Putnam VT International Value
Fund –
Class IA Shares Investment Adviser: Putnam Investment Management, LLC |
0.87% |
15.28% |
8.38% |
7.27% |
Seeks capital growth and current
income. |
Putnam VT Large Cap Value
Fund –
Class IA Shares
Investment Adviser: Putnam Investment Management, LLC |
0.56% |
27.62% |
14.08% |
14.40% |
Securian Funds Trust | |||||
Seeks to maximize risk-adjusted total
return relative to its blended
benchmark index comprised of 60%
S&P 500 Index and 40% Bloomberg
Barclays U.S. Aggregate Bond Index
(the Benchmark Index). |
SFT Balanced Stabilization
Fund* Investment Adviser: Securian Asset Management, Inc. |
0.94% |
13.46% |
11.68% |
— |
Seeks as high a level of a long-term total
rate of return as is consistent with
prudent investment risk. The Portfolio
also seeks preservation of capital as a
secondary objective. |
SFT Core Bond Fund –
Class 1
Shares
Investment Adviser: Metropolitan West Asset Management, LLC (MetWest) |
0.49% |
-0.29% |
4.01% |
3.86% |
Seeks to provide growth of capital. |
SFT Delaware IvySM Growth Fund Investment Adviser: Securian Asset
Management, Inc.
Subadviser: Delaware Investments Fund Advisers |
0.96% |
30.29% |
25.14% |
— |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of 12/31/2021) | ||
|
|
|
1 year |
5 year |
10 year |
Seeks to provide growth of capital. |
SFT Delaware IvySM Small Cap Growth Fund Investment Adviser: Securian Asset
Management, Inc.
Subadviser: Delaware Investments Fund Advisers |
1.23% |
4.58% |
16.23% |
— |
Seeks to maximize risk-adjusted total
return relative to its blended
benchmark index, comprised of 60%
S&P 500 Low Volatility Index, 20%
S&P BMI International Developed Low
Volatility Index and 20% Bloomberg
Barclays U.S. 3 Month Treasury
Bellwether Index (the Benchmark
Index). |
SFT Equity Stabilization
Fund* Investment Adviser: Securian Asset Management, Inc. |
1.04% |
12.18% |
6.50% |
— |
Seeks maximum current income to the
extent consistent with liquidity and the
preservation of capital.+ |
SFT Government Money Market
Fund
Investment Adviser: Securian Asset Management, Inc. |
0.05%² |
0.00% |
0.60% |
0.30% |
Seeks investment results generally
corresponding to the aggregate price
and dividend performance of the
publicly traded common stocks that
comprise the Standard & Poor’s 400
MidCap Index (the S&P 400). |
SFT Index 400 Mid-Cap Fund
– Class 1
Shares Investment Adviser: Securian Asset Management, Inc. |
0.28% |
24.30% |
12.74% |
13.87% |
Seeks investment results that
correspond generally to the price and
yield performance of the common
stocks included in the Standard &
Poor’s 500 Composite Stock Price Index
(the S&P 500). |
SFT Index 500 Fund –
Class 1
Shares
Investment Adviser: Securian Asset Management, Inc. |
0.19% |
28.35% |
18.22% |
16.29% |
Seeks to maximize current income,
consistent with the protection of
principal. |
SFT International Bond Fund
– Class 1
Shares Investment Adviser: Securian Asset Management, Inc. Subadviser: Brandywine Global
Investment Management, LLC |
1.04% |
-3.78% |
-1.08% |
1.13% |
Seeks above average income and
long-term growth of capital. |
SFT Real Estate Securities
Fund –
Class 1 Shares
Investment Adviser: Cohen & Steers |
0.87% |
44.41% |
11.97% |
11.75% |
Seeks to provide long-term capital
appreciation by investing in common
stocks believed to be undervalued.
Income is a secondary objective. |
SFT T. Rowe Price Value
Fund Investment Adviser: Securian Asset Management, Inc. Subadviser: T. Rowe Price Associates,
Inc. |
1.05% |
29.43% |
13.91% |
— |
T. Rowe Price Equity Series, Inc. |
|||||
Seeks long-term capital appreciation. |
T. Rowe Price Health Sciences
Portfolio
– II Class Investment
Adviser: T. Rowe Price Associates, Inc. |
1.19%² |
12.83% |
19.22% |
20.13% |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of 12/31/2021) | ||
|
|
|
1 year |
5 year |
10 year |
Vanguard® Variable
Insurance Fund | |||||
Seeks long-term capital appreciation
and reasonable current income. |
Balanced
Portfolio Investment Adviser: Wellington Management Company LLP |
0.20% |
19.02% |
12.32% |
11.40% |
Seeks long-term capital appreciation. |
Capital Growth
Portfolio Investment Adviser: PRIMECAP Management Company |
0.34% |
21.54% |
18.12% |
17.35% |
Seeks long-term capital appreciation
and income. |
Diversified Value
Portfolio Investment Adviser: Hotchkis and Wiley Capital Management, LLC and Lazard Asset Management LLC |
0.28% |
30.47% |
13.52% |
13.15% |
Seeks above-average level of current
income and reasonable long-term
capital appreciation. |
Equity Income
Portfolio Investment Adviser: Wellington Management Company LLP |
0.30% |
25.33% |
12.35% |
13.06% |
Seeks high level of current income. |
High Yield Bond
Portfolio Investment Adviser: Wellington Management Company LLP |
0.26% |
3.68% |
5.69% |
6.05% |
Seeks long-term capital appreciation. |
International
Portfolio Investment Adviser: Schroder Investment Management North America, Inc. and Baillie Gifford Overseas Ltd |
0.38% |
-1.54% |
20.47% |
13.57% |
Seeks current income while
maintaining limited price volatility. |
Short-Term Investment-Grade
Portfolio
Investment Adviser: The Vanguard Group, Inc. |
0.14% |
-0.45% |
2.74% |
2.48% |
Seeks long-term capital appreciation. |
Small Company Growth
Portfolio Investment Adviser: ArrowMark Colorado Holdings, LLC and The Vanguard Group, Inc. |
0.30% |
14.22% |
15.59% |
14.89% |
Seeks to track the performance of a
broad, market-weighted bond index. |
Total Bond Market Index
Portfolio Investment Adviser: The Vanguard Group, Inc. |
0.14% |
-1.72% |
3.50% |
2.77% |
Seeks to track the performance of a
benchmark index that measures the
investment return of the overall stock
market. |
Total Stock Market Index
Portfolio Investment Adviser: The Vanguard Group, Inc. |
0.13% |
25.64% |
17.79% |
16.13% |
Name and Principal
Business Address |
Position and Offices
with Minnesota Life |
Second Vice President, Corporate Compliance Officer and Chief Privacy Officer | |
Vice President – Business Services | |
Senior Vice President – Enterprise Technology | |
Second Vice President – Law | |
Director | |
Second Vice President – CCO Individual Solutions | |
Executive Vice President – Individual Solutions | |
Senior Vice President – Individual Solutions | |
Vice President – CFO and Actuary – Individual Solutions | |
Benjamin G. S. Fowke III Chairman, President and CEO
Xcel Energy, Inc. 414 Nicollet Mall, 401-9 |
Director |
Executive Vice President and Chief Administrative Officer |
Name and Principal Business Address |
Position and Offices with Minnesota Life |
Second Vice President – Law | |
Senior Vice President – Employee Benefit Solutions | |
Sara H. Gavin President, North America Weber Shandwick 510 Marquette Avenue 13F |
Director |
Vice President – Affinity Solutions | |
Director | |
Executive Vice President – Affinity Solutions | |
Director, Chairman of the Board, President and CEO | |
Senior Vice President – Finance | |
Second Vice President – Affinity Solutions | |
Vice President – Distribution and Relationship Management, Group Benefits | |
Second Vice President – Marketing | |
Director, Attorney-in-Fact, Senior Vice President, General Counsel and Secretary |
Name and Principal Business Address |
Position and Offices with Minnesota Life |
Vice President and Actuary – CFO Group Benefits | |
Second Vice President and Treasurer | |
Second Vice President – Group Benefits | |
Second Vice President and Actuary – CFO Retirement Solutions | |
Second Vice President and Chief Risk Officer | |
Second Vice President – Enterprise Stategy | |
Director | |
Director | |
Executive Vice President | |
Second Vice President – Chief Audit Executive | |
Second Vice President – Securian Business Services | |
Vice President – Human Resources | |
Second Vice President and Actuary, Group National Account Underwriting |
Name and Principal Business Address |
Position and Offices with Minnesota Life |
Katia O. Walsh Chief Strategy and Artificial Intelligence Officer, Global Leadership Team Levi Strauss & Co. 115 Battery Street |
Director |
Director | |
Vice President, Controller and Chief Accounting Officer | |
Director, Executive Vice President and CFO |
Name and Principal Business Address |
Positions and Offices with Underwriter |
President, Chief Executive Officer and Director | |
Vice President | |
Vice President, Chief Financial Officer, Treasurer and Financial Operations Principal | |
Vice President | |
Vice President | |
Vice President | |
Director | |
Executive Vice President – Strategy and Business Operations, Principal Business Officer – Financial Operations Principal |
Name of
Principal Underwriter |
Net Underwriting
Discounts and
Commissions |
Compensation on
Redemption |
Brokerage
Commissions |
Other
Compensation |
Securian Financial Services, Inc. |
$43,727,770 |
— |
— |
— |
Signature |
Title |
Date |
Chairman of the Board, President and Chief Executive Officer |
||
* Mary K. Brainerd |
Director |
|
* Benjamin G.S. Fowke III |
Director |
|
* Sara H. Gavin |
Director |
|
* Eric B. Goodman |
Director |
|
Director |
| |
* Trudy A. Rautio |
Director |
|
Signature |
Title |
Date |
* Bruce P. Shay |
Director |
|
* Katia O. Walsh |
Director |
|
* Kevin F. Warren |
Director |
|
Director |
| |
Executive Vice President and Chief Financial Officer (chief financial officer) |
||
Vice President and Controller (chief accounting officer) |
||
Second Vice President and Treasurer (treasurer) |
||
Director, Attorney-in-Fact, Senior Vice President, General Counsel and Secretary |
Exhibit Number |
Description of Exhibit |
30 (a) |
|
30 (b) |
Not Applicable. |
30 (c) (1) |
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30 (c) (2) |
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30 (c) (3) |
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30 (d) (1) |
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30 (d) (2) |
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30 (d) (3) |
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30 (d) (4) |
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30 (d) (5) |
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30 (d) (6) |
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30 (d) (7) |
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30 (d) (8) |
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30 (d) (9) |
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30 (e) (1) |
Exhibit Number |
Description of Exhibit |
30 (e) (2) |
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30 (e) (3) |
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30 (e) (4) |
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30 (e) (5) |
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30 (e) (6) |
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30 (e) (7) |
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30 (e) (8) |
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30 (e) (9) |
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30 (e) (10) |
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30 (f) (1) |
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30 (f) (2) |
|
30 (g) (1) |
|
30 (g) (2) |
|
30 (g) (3) |
|
30 (g) (4) |
Exhibit Number |
Description of Exhibit |
30 (g) (5) |
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30 (h) (1) (i) |
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30 (h) (1) (ii) |
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30 (h) (2) (i) |
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30 (h) (2) (ii) |
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30 (h) (2) (iii) |
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30 (h) (2) (iv) |
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30 (h) (2) (v) |
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30 (h) (2) (vi) |
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30 (h) (2) (vii) |
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30 (h) (2) (viii) |
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30 (h) (3) (i) |
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Exhibit Number |
Description of Exhibit |
30 (h) (3) (ii) |
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30 (h) (3) (iii) |
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30 (h) (3) (iv) |
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30 (h) (3) (v) |
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30 (h) (4) (i) |
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30 (h) (4) (ii) |
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30 (h) (4) (iii) |
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30 (h) (4) (iv) |
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30 (h) (4) (v) |
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30 (h) (5) (i) |
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Exhibit Number |
Description of Exhibit |
30 (h) (5) (ii) |
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30 (h) (5) (iii) |
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30 (h) (5) (iv) |
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30 (h) (5) (v) |
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30 (h) (5) (vi) |
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30 (h) (5) (vii) |
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30 (h) (5) (viii) |
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30 (h) (5) (ix) |
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30 (h) (5) (x) |
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30 (h) (5) (xi) |
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Exhibit Number |
Description of Exhibit |
30 (h) (5) (xii) |
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30 (h) (5) (xiii) |
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30 (h) (6) (i) |
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30 (h) (6) (ii) |
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30 (h) (6) (iii) |
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30 (h) (6) (iv) |
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30 (h) (6) (v) |
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30 (h) (6) (vi) |
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30 (h) (6) (vii) |
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30 (h) (7) (i) |
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30 (h) (7) (ii) |
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Exhibit Number |
Description of Exhibit |
30 (h) (7) (iii) |
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30 (h) (7) (iv) |
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30 (h) (7) (v) |
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30 (h) (7) (vi) |
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30 (h) (7) (vii) |
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30 (h) (8) (i) |
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30 (h) (8) (ii) |
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30 (h) (8) (iii) |
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30 (h) (8) (iv) |
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30 (h) (8) (v) |
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30 (h) (8) (vi) |
Exhibit Number |
Description of Exhibit |
30 (h) (8) (vii) |
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30 (h) (8) (viii) |
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30 (h) (8) (ix) |
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30 (h) (9) (i) |
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30 (h) (9) (ii) |
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30 (h) (9) (iii) |
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30 (h) (9) (iv) |
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30 (h) (9) (v) |
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30 (h) (10) (i) |
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30 (h) (10) (ii) |
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Exhibit Number |
Description of Exhibit |
30 (h) (10) (iii) |
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30 (h) (10) (iv) |
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30 (h) (11) (i) |
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30 (h) (11) (ii) |
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30 (h) (11) (iii) |
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30 (h) (11) (iv) |
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30 (h) (11) (v) |
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30 (h) (11) (vi) |
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30 (h) (11) (vii) |
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30 (h) (11) (viii) |
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30 (h) (11) (ix) |
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Exhibit Number |
Description of Exhibit |
30 (h) (11) (x) |
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30 (h) (11) (xi) |
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30 (h) (11) (xii) |
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30 (h) (11) (xiii) |
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30 (h) (11) (xiv) |
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30 (h) (12) (i) |
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30 (h) (12) (ii) |
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30 (h) (12) (iii) |
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30 (h) (12) (iv) |
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30 (h) (12) (v) |
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30 (h) (13) (i) |
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Exhibit Number |
Description of Exhibit |
30 (h) (13) (ii) |
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30 (h) (13) (iii) |
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30 (h) (13) (iv) |
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30 (h) (13) (v) |
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30 (h) (13) (vi) |
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30 (h) (13) (vii) |
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30 (h) (13) (viii) |
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30 (h) (13) (ix) |
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30 (h) (13) (x) |
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30 (h) (14) (i) |
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Exhibit Number |
Description of Exhibit |
30 (h) (14) (ii) |
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30 (h) (14) (iii) |
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30 (h) (15) (i) |
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30 (h) (15) (ii) |
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30 (h) (15) (iii) |
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30 (h) (16) (i) |
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30 (h) (17) (i) |
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30 (h) (17) (ii) |
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30 (h) (18) (i) |
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30 (h) (18) (ii) |
Exhibit Number |
Description of Exhibit |
30 (h) (18) (iii) |
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30 (h) (18) (iv) |
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30 (h) (18) (v) |
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30 (h) (18) (vi) |
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30 (h) (18) (vii) |
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30 (h) (18) (viii) |
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30 (h) (18) (ix) |
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30 (h) (18) (x) |
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30 (h) (18) (xi) |
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30 (h) (18) (xii) |
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30 (h) (19) (i) |
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30 (h) (19) (ii) |
Exhibit Number |
Description of Exhibit |
30 (h) (19) (iii) |
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30 (h) (19) (iv) |
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30 (h) (19) (v) |
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30 (h) (19) (vi) |
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30 (h) (19) (vii) |
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30 (h) (20) (i) |
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30 (h) (20) (ii) |
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30 (h) (20) (iii) |
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30 (i) (1) (ii) |
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30 (i) (2) (i) |
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30 (i) (2) (ii) |
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Exhibit Number |
Description of Exhibit |
30 (i) (3) |
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30 (j) |
Not Applicable. |
30 (k) |
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30 (l) |
Not Applicable. |
30 (m) |
Not Applicable. |
30 (n) |
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30 (o) |
Not Applicable. |
30 (p) |
Not Applicable. |
30 (q) |
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30 (r) |
Not Applicable. |
30 (s) |
This ‘N-6/A’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/31/25 | ||||
Filed on: | 11/8/22 | |||
12/31/21 | 24F-2NT, N-CEN, N-VPFS | |||
12/31/20 | 24F-2NT, N-CEN, N-VPFS | |||
12/31/17 | 24F-2NT, NSAR-U | |||
6/11/07 | ||||
10/1/98 | ||||
List all Filings |