Minnesota Life Individual Variable Universal Life Account, et al. – ‘N-6/A’ on 12/17/14 – ‘EX-99.26.D.10’

On:  Wednesday, 12/17/14, at 10:48am ET   ·   Private-to-Public:  Document/Exhibit ¶  –  Release Delayed   ·   Accession #:  1193125-14-444793   ·   File #s:  811-22093, 333-198279

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Pre-Effective Amendment to Registration Statement for a Separate Account (Unit Investment Trust)   —   Form N-6
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: N-6/A       Pre-Effective Amendment to Registration Statement    248   1.26M 
                for a Separate Account (Unit Investment Trust)                   
10: CORRESP   ¶ Comment-Response or Other Letter to the SEC            1      2K 
11: CORRESP   ¶ Comment-Response or Other Letter to the SEC            1      2K 
 3: EX-99.26.D.10  Miscellaneous Exhibit                               2     13K 
 4: EX-99.26.D.13  Miscellaneous Exhibit                               3     18K 
 2: EX-99.26.D.5  Miscellaneous Exhibit                                2±     9K 
 5: EX-99.26.K  Miscellaneous Exhibit                                  1      8K 
 6: EX-99.26.L  Miscellaneous Exhibit                                  1      9K 
 7: EX-99.26.M  Miscellaneous Exhibit                                  2     11K 
 8: EX-99.26.N  Miscellaneous Exhibit                                  1      6K 
 9: EX-99.26.R  Miscellaneous Exhibit                                  2     17K 

‘EX-99.26.D.10’   —   Miscellaneous Exhibit

EX-99.26.D.10
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                                                             EXHIBIT 26(D)(10)

OVERLOAN PROTECTION AGREEMENT                                                   
--------------------------------------------------------------------------------

This agreement is a part of the policy   If the agreement is exercised, the     
to which it is attached and is subject   policy will not terminate because of a 
to all its terms and conditions. This    policy loan, when the policy's cash    
agreement is effective as of the         surrender value, or when applicable,   
original policy date of this policy      the accumulation value less policy     
unless a different effective date is     loan, is insufficient to cover the     
shown on the policy data pages.          monthly policy charges. The policy     
                                        will automatically become paid-up life
WHAT DOES THIS AGREEMENT PROVIDE?        insurance.                             

This agreement provides that your        WHAT IS THE COST FOR THIS AGREEMENT?   
policy will not terminate because of a                                          
policy loan even if the accumulation     When you exercise this agreement, we   
value is insufficient to cover policy    will assess a one-time charge against  
charges. If all the conditions           your accumulation value. The charge    
described below are satisfied, you may   will not exceed the amount shown on    
exercise this agreement and we will      the policy data pages. There is no     
guarantee that your policy will not      charge for this agreement if it is     
terminate.                               never exercised.                       

WHAT CONDITIONS MUST BE MET IN ORDER     WHAT IS THE EFFECTIVE DATE OF THE      
TO EXERCISE THIS AGREEMENT?              EXERCISE OF THIS AGREEMENT?            

   (1)   The death benefit              The exercise of this agreement will be
        qualification test on your     effective on the first monthly policy
         policy must be the guideline   anniversary on or following the day we
        premium test.                  approve your request to exercise this
            agreement.
(2)   Your policy must have the                                         
    Level Death Benefit Option.    ARE THERE ANY RESTRICTIONS ON THE
         If your policy does not have   ALLOCATION OF YOUR ACCUMULATION VALUE?
this option when you                                        
       exercise the agreement, we     When you exercise this agreement and
 will change your option to     this agreement is attached to:
the Level option.                                           
                                          (1)   a variable policy, we will
(3)   Your policy cannot be a                  transfer all of your     
modified endowment contract.             separate account   
                                               accumulation value to the
   (4)   The insured must be at least             guaranteed interest account.
75 years of age and less                                    
       than 99 years of age.              (2)   an indexed policy, we will
                                                transfer your accumulation
   (5)   Your policy must have been               value that is in any indexed
         in force for at least 15                 account segment into a fixed
        years.                                   account at the next segment
                                       anniversary date.
(6)   The policy loan plus any                                          
  unpaid policy loan interest        (3)   a policy other than a
   must equal or exceed the                 variable or an indexed
         current face amount.                     policy, we will not restrict
                                            the allocation of your
(7)   The policy loan including                accumulation value.      
any unpaid policy loan                                      
    interest cannot exceed 99.9%   ARE THERE OTHER RESTRICTIONS THAT
of the accumulation value      EXIST AFTER YOU EXERCISE THIS
after the charge for this      AGREEMENT?                   
agreement is assessed.                                      
                                        After you exercise this agreement, you
(8)   If any agreements are          may not:                           
attached to your policy,                                    
   they will terminate when you       (1)   request any new policy
exercise this agreement.                 loans; or          

    (9)   The cumulative sum of all          (2) pay any additional premiums; or
partial surrenders on your                                  
        policy must be greater than        (3)   request any policy changes;
or equal to the sum of                   or                 
premiums paid.                                              
                                          (4)   request any transfers from
(10)  The guideline level premium              the guaranteed interest  
    (under the guideline premium             account to the separate
 test) must be greater than               account for variable
zero.                                    policies; or       

   (11)  We cannot be waiving               (5)   request any transfers from a
        premiums under the Waiver of             fixed account to an indexed
Premium Agreement or waiving             account for indexed
charges under the Waiver of              policies.          
Charges Agreement,                                          
                                        Once the benefit is exercised, we will
(12)  You cannot have exercised      notify you of any changes to your  
the Accelerated Benefit        policy.                      
Agreement.                                                  

HOW MAY YOU EXERCISE THIS AGREEMENT?                                            

If the above conditions are satisfied,                                          
you may exercise this agreement by                                              
sending us a written request.                                                   

If your policy is in the grace period,                                          
we will send you, and any assignee of                                           
record, at the last known addresses, a                                          
written notice at least 31 days in                                              
advance of the end of the grace                                                 
period, notifying you of your right to                                          
exercise this agreement and the time                                            
frame for exercise.                                                             

ICC15-20003    Overloan Protection Agreement    Minnesota Life Insurance Company

EX-99.26.D.10
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WHEN WILL THIS AGREEMENT TERMINATE?                                             

This agreement will terminate on:                                               

(1)   the date this policy is                                           
surrendered or otherwise                                    
terminates; or                                              

(2)   the date we receive your                                          
written request to cancel                                   
this agreement; or                                          

(3)   the date you request an                                           
Accelerated Benefit                                         
Agreement payment.                                          

May this agreement be reinstated?                                               

Yes. If your policy has been                                                    
reinstated, this agreement will also                                            
be reinstated.                                                                  

[Gary R. Christensen  Robert L. Senkler                                         
Secretary                   President]                                        

9 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/26/24  Minnesota Life Individual V… Acct 485BPOS     5/01/24   26:7.7M                                   Donnelley … Solutions/FA
 4/26/24  Minnesota Life Individual V… Acct 485BPOS     5/01/24   26:10M                                    Donnelley … Solutions/FA
 4/27/23  Minnesota Life Individual V… Acct 485BPOS     5/01/23   25:6.6M                                   Donnelley … Solutions/FA
 4/27/23  Minnesota Life Individual V… Acct 485BPOS     5/01/23   23:8.8M                                   Donnelley … Solutions/FA
 2/23/23  Minnesota Life Individual V… Acct 485APOS               14:14M                                    Donnelley … Solutions/FA
11/08/22  Minnesota Life Individual V… Acct N-6/A                 11:5.1M                                   Donnelley … Solutions/FA
 8/01/22  Minnesota Life Individual V… Acct N-6                    8:2.4M                                   Donnelley … Solutions/FA
 4/27/22  Minnesota Life Individual V… Acct 485BPOS     4/29/22    7:2.2M                                   Donnelley … Solutions/FA
 4/28/21  Minnesota Life Individual V… Acct 485BPOS     5/01/21    9:2.4M                                   Donnelley … Solutions/FA