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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/26/24 Minnesota Life Individual V… Acct 485BPOS 5/01/24 8:2.6M Donnelley … Solutions/FA → Minnesota Life Individual Variable Universal Life Account ⇒ Accumulator Variable Universal Life |
Document/Exhibit Description Pages Size 1: 485BPOS Post-Effective Amendment of a Form N-1 or N-1A HTML 2.25M Registration 3: EX-99.30(15)(H)(II) Miscellaneous Exhibit HTML 42K 4: EX-99.30(15)(H)(III) Miscellaneous Exhibit HTML 13K 2: EX-99.30(D)(5) Miscellaneous Exhibit HTML 142K 5: EX-99.30(K) Miscellaneous Exhibit HTML 10K 6: EX-99.30(N) Miscellaneous Exhibit HTML 8K 7: EX-99.30(Q) Miscellaneous Exhibit HTML 107K 8: EX-99.30(S) Miscellaneous Exhibit 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 or
during the first ten years following an increase in Face
Amount, 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 or during the first 10 years following an increase in
Face Amount, you could pay a Surrender Charge of up to
$6,000.00 based on a $100,000 Face Amount, representing a
charge of 6% 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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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 Transaction Charge, which is currently $60 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 and the Guaranteed Interest Account, we may assess a Transfer Transaction Charge, which will not exceed $25 (we currently do not assess this charge). |
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Ongoing Charges 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, a Cash Extra Charge, and charges for
any Agreements you elect. These charges and fees are based on
the characteristics of the insured, including the insured's Age,
gender, Risk Class and 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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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, 2023. 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 1.84% |
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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 or the Guaranteed Interest Account, 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 contract, such as payment of the Death Benefit, 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 and the 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
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Contract Lapse |
There is the risk that the Policy may terminate. If your Policy terminates, no Death Benefit will be paid if the insured dies and all the Agreements added to the Policy will also terminate. 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 |
•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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Restrictions |
Location in Prospectus |
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•We reserve the right to require that the amount
transferred to or from a Sub-Account 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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Optional Benefits |
If you have added the LTC Agreement or the Accelerated Death Benefit for Chronic Illness Agreement, when you make a claim and we make a benefit payment, we will automatically transfer all of your Policy’s Accumulation Value that is in the Variable
Account to the Guaranteed Interest Account. If we are paying
benefits, you will only be able to allocate premium payments and
loan repayments to the Guaranteed Interest
Account. |
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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 at Policy Issue |
Available post issue of the Policy |
Accelerated Death Benefit for Chronic Illness Agreement |
N/A – Policy no longer issued |
Not available |
Accelerated Death Benefit for Terminal Illness Agreement* |
N/A – Policy no longer issued |
Available |
Business Continuation Agreement |
N/A – Policy no longer issued |
Not available |
Corporate Enhanced Values Agreement |
N/A – Policy no longer issued |
Not available |
Death Benefit Guarantee Agreement** |
N/A – Policy no longer issued |
Not available |
Early Values Agreement |
N/A – Policy no longer issued |
Not available |
Family Term — Children |
N/A – Policy no longer issued |
Not available |
Guaranteed Insurability Option Agreement |
N/A – Policy no longer issued |
Not available |
Guaranteed Insurability Option for Business Agreement |
N/A – Policy no longer issued |
Not available |
Inflation Agreement |
N/A – Policy no longer issued |
Not available |
Interest Accumulation Agreement |
N/A – Policy no longer issued |
Not available |
Long Term Care Agreement |
N/A – Policy no longer issued |
Not available |
Overloan Protection Agreement |
N/A – Policy no longer issued |
Available |
Premium Deposit Account Agreement* |
N/A – Policy no longer issued |
Available |
Term Insurance Agreement |
N/A – Policy no longer issued |
Not available |
Waiver of Charges Agreement |
N/A – Policy no longer issued |
Not available |
Waiver of Premium Agreement |
N/A – Policy no longer issued |
Not available |
Charge |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Charge* |
Current Charge | ||
Premium Charge(1) |
Upon premium payment |
7 percent of premium payment |
4 percent of premium payment |
Policy Change Transaction Charge |
Upon change in Face Amount, Death Benefit option, or Risk Class |
$100 |
$60 |
When you surrender your Policy during the first 10 Policy Years |
For the Initial Face Amount or any Face Amount increase the sum of any remaining Policy Issue Charges for the Initial Face Amount or the Face Amount increase, as applicable, measured from policy Termination or full surrender to the end of the ten year surrender charge period.
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For the Initial Face amount or any Face Amount increase the sum of any remaining Policy Issue Charges for the Initial Face amount or the Face Amount increase, as applicable, measured from policy Termination or full surrender to the end of the ten year surrender charge period.
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When you surrender your Policy during the first 10 Policy Years |
The surrender charge is equal to the lesser of (i) 60 times the Policy Issue Charge for the Initial Face Amount increase; or(ii) the sum of any remaining Policy Issue Charges for the Initial Face Amount or Face Amount increase multiplied by a factor of 2, as applicable. |
The surrender charge is equal to the lesser of (i) 60 times the Policy Issue Charge for the Initial Face Amount increase; or(ii) the sum of any remaining Policy Issue Charges for the Initial Face Amount or Face Amount increase multiplied by a factor of 2, as applicable. | |
Maximum Surrender Charge |
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On a Policy with a $100,000 Face Amount, if you surrender the Policy within the first 10 Policy Years or during the first 10 years following an increase in Face Amount, you could pay a Surrender Charge of up to $6,000.00, representing a charge of 6 percent of the Policy’s
Face Amount. |
On a Policy with a $100,000 Face Amount, if you surrender the Policy within the first 10 Policy Years or during the first 10 years following an increase in Face Amount, you could pay a Surrender Charge of up to $6,000.00, representing a charge of 6 percent of the Policy’s
Face Amount. |
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 |
Transfer Transaction Charge |
Upon transfer |
$25 for each transfer |
Currently, no transfer transaction charge is assessed |
Overloan Protection Agreement |
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Maximum Charge(2) |
Upon exercise of Agreement, expressed as a percentage of Policy Accumulation Value upon exercise of Agreement |
7 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 |
$12 plus $0.0125 per $1,000 |
$8 |
Policy Issue Charge(1) |
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Maximum Charge(2) |
Monthly, within the first ten Policy Years, and within the first ten years of an increase in Face Amount, expressed as an amount of Initial Face Amount or Face Amount increase |
$0.53 per $1,000 |
$0.53 per $1,000 |
Minimum Charge(3) |
Monthly, within the first ten Policy Years, and within the first ten years of an increase in Face Amount, expressed as an amount of Initial Face Amount or Face Amount increase |
$0.04 per $1,000 |
$0.04 per $1,000 |
Charge |
When Charge is Deducted |
Amount Deducted | |
Guaranteed Charge* |
Current Charge | ||
Charge for Insured Age 35 in Male, Preferred Select Non-Tobacco Risk Class, with Increasing Option Death Benefit |
Monthly, within the first ten Policy Years, and within the first ten years of an increase in Face Amount, expressed as an amount of Initial Face Amount or Face Amount increase |
$0.19 per $1,000 |
$0.19 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 |
$70.00 per $1,000 |
Minimum Charge |
Monthly, expressed as an amount of Net Amount at Risk |
$0.015 per $1,000(5) |
$.005 per $1,000 |
Charge for Insured Age 35 in Male, Preferred Select Non-Tobacco Risk Class |
Monthly, expressed as an amount of Net Amount at Risk |
$0.14 per $1,000 |
$0.03 per $1,000 |
Mortality and Expense Risk Charge |
Monthly, expressed as a percentage of Policy Accumulation Value |
0.90 percent annually (0.075 percent monthly) |
0.36 percent annually (0.03 percent monthly) in Policy Years 1-10, and no charge thereafter |
Cash Extra Charge(6) |
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Maximum Charge |
Monthly, expressed as an amount of Face Amount |
$100 per $1,000 |
$100 per $1,000 |
Minimum Charge |
Monthly |
$0 |
$0 |
Charge for Insured Age 35 in Male, Preferred Select Non-Tobacco Risk Class |
Monthly, expressed as an amount of Initial Face Amount |
$0.01 per $1,000 |
$0.01 per $1,000 |
Net Loan Interest Charge(7) |
Annually, on each Policy Anniversary, and upon a policy loan transaction, full surrender, policy Termination or death of the Insured |
The net loan interest charge is 1.0 percent.(9) |
The net loan interest charge depends upon how long the policy has been in force. For policies in force less than or equal to ten years, the net loan interest charge is 1.0 percent. For policies in force more than ten years, the net loan interest charge is 0.10 percent.(9) |
Charge for
Agreement(1) |
When Charge is
Deducted |
Amount Deducted | |
Guaranteed Charge* |
Current Charge | ||
Waiver of Premiums |
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Maximum Charge(2) |
Monthly, expressed as an amount of Face Amount |
$0.51 per $1,000 |
$0.51 per $1,000 |
Minimum Charge(3) |
Monthly, expressed as an amount of Face Amount |
$0.01 per $1,000 |
$0.01 per $1,000 |
Charge for Insured Age 30 in Male, Standard Non-Tobacco Risk Class, with Increasing Option Death Benefit |
Monthly, expressed as an amount of Face Amount |
$0.035 per $1,000 |
$0.035 per $1,000 |
Waiver of Charges |
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Maximum Charge(4) |
Monthly, expressed as an amount of Face Amount |
$0.38 per $1,000 |
$0.38 per $1,000 |
Minimum Charge(5) |
Monthly, expressed as an amount of Face Amount |
$0.01 per $1,000 |
$0.01 per $1,000 |
Charge for Insured Age 30 in Male, Standard Non-Tobacco Risk Class, with Increasing Option Death Benefit |
Monthly, expressed as an amount of Face Amount |
$0.025 per $1,000 |
$0.025 per $1,000 |
Death Benefit Guarantee** |
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Maximum Charge(6) |
Monthly, expressed as an amount of Net Amount at Risk |
$83.33 per $1,000 |
$7.00 per $1,000 |
Minimum Charge(7) |
Monthly, expressed as an amount of Net Amount at Risk |
$0.02 per $1,000 |
$0.01 per $1,000 |
Charge for Insured Age 55 in Male, Preferred Select Non-Tobacco Risk Class, with Increasing Option Death Benefit |
Monthly, expressed as an amount of Net Amount at Risk |
$0.14 per $1,000 |
$0.004 per $1,000 |
Charge for
Agreement(1) |
When Charge is
Deducted |
Amount Deducted | |
Guaranteed Charge* |
Current Charge | ||
Term Insurance |
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Maximum Charge(8) |
Monthly, expressed as an amount of Net Amount at Risk |
$83.33 per $1,000 |
$22.57 per $1,000 |
Minimum Charge(9) |
Monthly, expressed as an amount of Net Amount at Risk |
$0.015 per $1,000 |
$0.008 per $1,000 |
Charge for Insured Age 45 in Male, Preferred Select Non-Tobacco Risk Class, with Increasing Option Death Benefit |
Monthly, expressed as an amount of Net Amount at Risk |
$0.22 per $1,000 |
$0.07 per $1,000 |
Family Term Insurance — Children |
Monthly, expressed as an amount of coverage |
$0.40 per $1,000 |
$0.40 per $1,000 |
Interest Accumulation Agreement(10) |
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Maximum Charge(11) |
Monthly, expressed as an amount of increased Net Amount at Risk provided by this Agreement |
$83.33 per $1,000 |
$70.00 per $1,000 |
Minimum Charge(12) |
Monthly, expressed as an amount of increased Net Amount at Risk provided by this Agreement |
$.015 per $1,000 |
$.005 per $1,000 |
Charge for Insured Age 60 in Male, Preferred Select Non-Tobacco Risk Class |
Monthly, expressed as an amount of increased Net Amount at Risk provided by this Agreement |
$0.82 per $1,000 |
$0.27 per $1,000 |
Early Values Agreement(13) |
Monthly, expressed as a percentage of the Accumulation Value less policy loan |
0.60 percent annually (0.05 percent monthly) |
0.12 percent annually (0.01 percent monthly) |
Guaranteed Insurability Option(14) |
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Maximum Charge(15) |
Monthly, expressed as an amount of additional coverage |
$0.192 per $1,000 |
$0.192 per $1,000 |
Minimum Charge(16) |
Monthly, expressed as an amount of additional coverage |
$0.032 per $1,000 |
$0.032 per $1,000 |
Charge for Insured Age 0 in Male, Preferred Non-Tobacco Risk Class |
Monthly, expressed as an amount of additional coverage |
$0.032 per $1,000 |
$0.032 per $1,000 |
Charge for
Agreement(1) |
When Charge is
Deducted |
Amount Deducted | |
Guaranteed Charge* |
Current Charge | ||
Long Term Care Agreement(17) |
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Maximum Charge(18) |
Monthly, expressed as an amount of long term care Net Amount at Risk |
$3.619 per $1,000 |
$2.353 per $1,000 |
Minimum Charge(19) |
Monthly, expressed as an amount of long term care Net Amount at Risk |
$0.014 per $1,000 |
$0.00483 per $1,000 |
Charge for Insured Age 55 in Male, Standard Non-Tobacco Risk Class, 2 Percent Monthly Benefit Percentage |
Monthly, expressed as an amount of long term care Net Amount at Risk |
$0.287167 per $1,000 |
$0.11 per $1,000 |
Inflation Agreement(20) |
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Maximum Charge |
Monthly |
$5.00 |
$5.00 |
Minimum Charge |
Monthly |
$0.50 |
$0.50 |
Current Charge for all Insureds |
Monthly |
$0.83 |
$0.83 |
Business Continuation Agreement(21)*** |
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Maximum Charge(22) |
Monthly, expressed as an amount of additional insurance coverage |
$0.328 per $1,000 |
$0.328 per $1,000 |
Minimum Charge(23) |
Monthly, expressed as an amount of additional insurance coverage |
$0.0083 per $1,000 |
$0.0083 per $1,000 |
Charge for Insured Male, Standard Non-Tobacco, Age 40, Designated Insured Male Non-Tobacco, Age 40 |
Monthly, expressed as an amount of additional insurance coverage |
$0.013 per $1,000 |
$0.013 per $1,000 |
Guaranteed Insurability Option for Business(24)*** |
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Maximum Charge(25) |
Monthly, expressed as an amount of additional insurance coverage |
$0.602 per $1,000 |
$0.602 per $1,000 |
Minimum Charge(26) |
Monthly, expressed as an amount of additional insurance coverage |
$0.065 per $1,000 |
$0.065 per $1,000 |
Charge for Insured Male Standard Non-Tobacco, Age 45 |
Monthly, expressed as an amount of additional insurance coverage |
$0.273 per $1,000 of additional insurance coverage |
$0.273 per $1,000 of additional insurance coverage |
Charge for
Agreement(1) |
When Charge is
Deducted |
Amount Deducted | |
Guaranteed Charge* |
Current Charge | ||
Corporate Enhanced Values Agreement(27) |
Monthly, expressed as a percentage of accumulation in value less Policy loan |
1.44 percent annually (0.12 percent monthly) |
0.12 percent annually (0.01 percent monthly) |
Accelerated Death Benefit for Chronic Illness Agreement(28) |
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Maximum Charge(29) |
Monthly, expressed as an amount of chronic illness Net Amount at Risk |
$3.619 per $1,000 |
$2.353 per $1,000 |
Minimum Charge(30) |
Monthly, expressed as an amount of chronic illness Net Amount at Risk |
$0.014 per $1,000 |
$0.00483 per $1,000 |
Charge for Insured Age 55 in Male, Standard Non-Tobacco Risk Class, 2 Percent Monthly Benefit Percentage |
Monthly, expressed as an amount of chronic illness Net Amount at Risk |
$0.287167 per $1,000 |
$0.11 per $1,000 |
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% |
1.84% |
State |
Rider or Feature |
Availability or Variation |
California |
Initial Premium Allocations |
The section titled “How are initial premiums allocated when your
policy is issued” is amended and restated in its entirety to read as
follows: |
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Your net premiums will be placed in a fixed account or money market
fund, unless you direct us otherwise, for a period of no more than
30 days after the policy is delivered to you.
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If you direct that the premium be invested in a stock or bond portfolio
during the 30-day period, and if you return the policy during that
period, you will be entitled to a refund of the
policy’s account value on the day the policy is
received. |
California |
Conversion |
The following section is added as the last paragraph of the Policy form: |
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May this policy be converted? |
State |
Rider or Feature |
Availability or Variation |
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Yes. At any time during the first eighteen months of the variable life
insurance policy, while the insured is still living, you may exchange
this policy for a policy of permanent fixed benefits
insurance that was offered by us on the date of issue of the
variable life insurance policy and at the premium rates in
effect on that date for the same class of insurance. The face
amount for the new policy will be the same as the initial
amount of insurance on the variable life insurance policy. The
new policy shall bear the same date of issue and age at issue as the
original variable life insurance policy. Such agreements as
were included in the original policy shall be included in the
new policy, if such agreements are issued with the fixed
benefit policy. If the exchange results in an increase or
decrease in account value, such increase or decrease will be
payable to the insurer or the insured as the case may
be. |
California |
Accelerated Death Benefit for Chronic Illness Agreement |
The Accelerated Death Benefit for Chronic Illness Agreement is not available for sale in the state of California. |
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 many restrict the dollar
amount of any transfer to the Guaranteed Interest Account to
be no more than 20% of your Accumulation Value; and (2) we
may restrict the amount of any fixed interest rate loan
repayment allocated to the Guaranteed Interest Account to be
no more than 20% of your outstanding loan
balance. |
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 Funds Capital World Bond 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 |
Macquarie VIP Asset Strategy Series – Service Class Shares |
0.12 |
Macquarie VIP Core Equity Series – Service Class Shares |
0.12 |
Macquarie VIP Growth Series – Service Class Shares |
0.12 |
Macquarie VIP International Core Equity Series – Service Class Shares |
0.12 |
Macquarie VIP Natural Resources Series – Service Class Shares |
0.12 |
Macquarie VIP Pathfinder Moderate – Managed Volatility Series – Service Class Shares |
0.07 |
Macquarie VIP Science and Technology Series – Service Class 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 |
Janus Henderson Overseas Portfolio – Institutional Shares |
0.00 |
Janus Henderson Research Portfolio – Institutional Shares |
0.00 |
MFS® VIT II International Intrinsic Value Portfolio – 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 |
Sub-Account |
Annual Unit Value Credit |
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 |
PIMCO VIT Global Diversified Allocation Portfolio – Advisor Class Shares |
0.05 |
PIMCO VIT International Bond Portfolio (U.S. Dollar-Hedged) – Advisor Class Shares |
0.00 |
Putnam VT International 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 Index 400 Mid-Cap Fund – Class 1 Shares |
0.02 |
SFT Index 500 Fund – Class 1 Shares |
0.03 |
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 |
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® Money Market 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 |
Accelerated Death Benefit for Chronic Illness Agreement |
Allows the Policy Owner to accelerate the Death Benefit in the event the insured meets the requirements for being chronically ill |
Optional |
No longer available to purchase |
Accelerated Death Benefit for Terminal Illness Agreement |
Allows the Policy Owner to accelerate the Death Benefit in the event the insured is terminally ill |
Optional |
No longer available to purchase |
Business Continuation Agreement |
Guarantees the Policy Owner the right to increase the Face Amount of the Policy upon the death of a designated person |
Optional |
No longer available to purchase |
Corporate Enhanced Values Agreement |
Waives the Surrender Charge and provides an Enhancement Benefit for Policies surrendered by a business Policy Owner under certain situations |
Optional |
No longer available to purchase |
Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
Death Benefit Guarantee Agreement |
Provides that under certain situations the Policy will remain in force even if the Accumulation Value is not sufficient to cover monthly charges when due |
Optional |
No longer available to purchase |
Early Values Agreement |
Waives the Surrender Charge that would ordinarily apply to the Policy |
Optional |
No longer available to purchase |
Family Term — Children |
Provides fixed level term insurance for insured’s children |
Optional |
No longer available to purchase |
Guaranteed Insurability Option Agreement |
Guarantees the Policy Owner the right to purchase additional amounts of insurance on the insured’s life without providing evidence of insurability |
Optional |
No longer available to purchase |
Guaranteed Insurability Option for Business Agreement |
Guarantees a business Policy Owner the right to purchase additional amounts of insurance on the insured’s life on specified dates without providing evidence of insurability |
Optional |
No longer available to purchase |
Inflation Agreement |
Allows for Cost of Living increases in the Face Amount of the Policy without providing evidence of the insured’s insurability |
Optional |
No longer available to purchase |
Interest Accumulation Agreement |
Provides an additional Death Benefit for Policy Owners that have elected the Sum of Premiums Death Benefit option |
Optional |
No longer available to purchase |
Long Term Care Agreement |
Allows the Policy Owner to accelerate the Death Benefit in the event the insured meets the requirements for being chronically ill |
Optional |
No longer available to purchase |
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 |
|
|
•Cannot have exercised
the Accelerated Death
Benefit for Terminal
Illness, or have waived
charges or Premiums
under the Waiver of
Premium or Waiver of
Charges Agreements | |
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 |
Term Insurance Agreement |
Provides additional term insurance on the life of the insured |
Optional |
No longer available to purchase |
Waiver of Charges Agreement |
Provides for waiver of monthly charges in the event of the insured’s total and permanent disability |
Optional |
No longer available to purchase |
Waiver of Premium Agreement |
Provides monthly premium payments in the event of the insured’s total and permanent disability |
Optional |
No longer available to purchase |
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 third Friday of every month |
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 |
Anniversary Nearest Insured’s Age |
Percentage |
Prior to Age 76 |
100% |
Age 76 |
80% |
Age 77 |
60% |
Age 78 |
40% |
Age 79 |
20% |
Age 80 |
0%
|
|
Option Dates | |||||||||||
Issue Age |
22 |
25 |
28 |
31 |
34 |
37 |
40 |
43 |
46 |
49 |
52 |
55 |
18-21 |
√ |
√ |
√ |
√ |
√ |
|
|
|
|
|
|
|
22-24 |
|
√ |
√ |
√ |
√ |
√ |
|
|
|
|
|
|
25-27 |
|
|
√ |
√ |
√ |
√ |
√ |
|
|
|
|
|
|
|
|
√ |
√ |
√ |
√ |
√ |
|
|
|
| |
31-33 |
|
|
|
|
√ |
√ |
√ |
√ |
√ |
|
|
|
34-36 |
|
|
|
|
|
√ |
√ |
√ |
√ |
√ |
|
|
37-39 |
|
|
|
|
|
|
√ |
√ |
√ |
√ |
√ |
|
40-42 |
|
|
|
|
|
|
|
√ |
√ |
√ |
√ |
√ |
43-45 |
|
|
|
|
|
|
|
|
√ |
√ |
√ |
√ |
46-48 |
|
|
|
|
|
|
|
|
|
√ |
√ |
√ |
|
|
|
|
|
|
|
|
|
|
√ |
√ | |
52 |
|
|
|
|
|
|
|
|
|
|
|
√ |
Policy Year |
Enhancement Target Cap Factor |
1 |
250% |
2 |
230% |
3 |
220% |
4 |
190% |
5 |
180% |
6 |
180% |
7 |
170% |
8 |
140% |
9 |
120% |
10 |
100% |
11 |
80% |
12 |
50% |
13 |
0% |
Policy Year |
Enhancement Excess Cap Factor |
1 |
90% |
2 |
85% |
3 |
80% |
4 |
75% |
5 |
70% |
6 |
70% |
7 |
70% |
8 |
70% |
9 |
70% |
10 |
70% |
11 |
70% |
12 |
50% |
13 |
0% |
Policy Year: |
1 |
Premiums Paid: |
$10,000 |
Premium Charge: |
$400 |
Enhancement Target Factor Amount: |
$15,000 |
Enhancement Target Cap Factor: |
250% |
Policy Year: |
1 |
Premiums Paid: |
$20,000 |
Premium Charge: |
$800 |
Enhancement Target Factor Amount: |
$15,000 |
Enhancement Target Cap Factor: |
250% |
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 December 31, 2023) | ||
|
|
|
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. |
1.10%2 |
13.48% |
4.03% |
3.22% |
The Portfolio’s investment objective is
long-term growth of capital. |
International Value Portfolio
– Class A
Shares Investment Adviser: AllianceBernstein L.P. |
0.90% |
15.15% |
5.81% |
2.09% |
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 |
0.64%2 |
17.10% |
10.32% |
7.32% |
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 |
0.62%2 |
13.11% |
6.95% |
5.26% |
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 |
0.60%2 |
8.19% |
2.82% |
2.52% |
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 |
0.63% |
15.61% |
8.93% |
6.48% |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
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 |
0.61%2 |
10.99% |
5.02% |
3.94% |
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 |
0.48% |
6.39% |
-0.07% |
0.62% |
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 |
0.27%2 |
18.12% |
8.14% |
4.16% |
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 |
0.22%2 |
16.70% |
9.83% |
6.91% |
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% |
5.47% |
0.91% |
0.00% |
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. |
0.47% |
10.65% |
12.30% |
8.58% |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of December 31, 2023) | ||
|
|
|
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. |
0.57% |
15.08% |
12.45% |
8.12% |
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%2 |
13.02% |
11.34% |
7.31% |
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 |
0.85%2 |
13.90% |
8.27% |
3.48% |
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 |
23.51% |
15.97% |
10.57% |
To seek to provide growth of capital. |
Delaware Ivy VIP Growth
– Class II
Shares
Investment Adviser: Delaware Management Company Subadviser: Macquarie Funds
Management Hong Kong Limited and
Macquarie Investment Management
Global Limited |
1.00% |
38.00% |
18.41% |
14.09% |
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 |
1.11%2 |
15.65% |
7.56% |
4.00% |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
To seek to provide capital growth and
appreciation. |
Delaware Ivy VIP Natural
Resources
– Class II Shares Investment
Adviser: Delaware Management Company Subadviser: Macquarie Funds
Management Hong Kong Limited and
Macquarie Investment Management
Global Limited |
1.30% |
1.63% |
7.86% |
-0.36% |
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 |
1.15% |
39.04% |
17.17% |
10.87% |
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 |
1.15%2 |
14.10% |
7.44% |
5.10% |
Janus Aspen Series | |||||
Seeks long-term growth of capital. |
Janus Henderson Overseas
Portfolio
– Institutional Shares Investment
Adviser: Janus Henderson Investors US LLC |
0.89% |
10.87% |
11.20% |
3.63% |
Seeks long-term growth of capital
consistent with the preservation of
capital. |
Janus Henderson Research
Portfolio
– Institutional Shares Investment
Adviser: Janus Henderson Investors US LLC |
0.57% |
43.17% |
16.83% |
12.49% |
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 |
17.66% |
8.58% |
6.92% |
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 |
11.96% |
3.36% |
1.79% |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
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 |
0.95% |
9.28% |
4.71% |
2.98% |
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”) |
1.31%2 |
13.64% |
5.40% |
4.03% |
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”) |
1.38% |
8.91% |
1.54% |
0.00% |
Putnam Variable Trust | |||||
Seeks capital growth. Current income is
a secondary objective. |
Putnam VT International Value
Fund –
Class IA Shares Investment Adviser: Putnam Investment Management, LLC |
0.88% |
19.08% |
9.96% |
4.14% |
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. |
0.96% |
15.47% |
8.88% |
7.15% |
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) |
0.51% |
5.98% |
1.25% |
2.20% |
Seeks to provide growth of capital. |
SFT Delaware IvySM Growth Fund Investment Adviser: Securian Asset
Management, Inc.
Subadviser: Delaware Investments Fund Advisers |
0.97% |
37.96% |
18.49% |
0.00% |
Seeks to provide growth of capital. |
SFT Delaware IvySM Small Cap Growth Fund Investment Adviser: Securian Asset
Management, Inc.
Subadviser: Delaware Investments Fund Advisers |
1.32% |
12.79% |
7.76% |
0.00% |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
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. |
1.07% |
7.82% |
3.82% |
0.00% |
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. |
0.31% |
15.99% |
12.24% |
8.94% |
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% |
26.03% |
15.44% |
11.79% |
Seeks above average income and
long-term growth of capital. |
SFT Real Estate Securities
Fund –
Class 1 Shares
Investment Adviser: Cohen & Steers |
0.97% |
12.22% |
7.82% |
7.71% |
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. |
1.04% |
11.75% |
12.09% |
0.00% |
Seeks growth of capital. |
SFT Wellington Core Equity
Fund –
Class 1 Shares
Investment Adviser: Securian Asset Management, Inc. Subadviser: Wellington Management
Company LLP |
0.85% |
21.03% |
13.98% |
0.00% |
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. |
1.11% |
2.68% |
10.96% |
11.03% |
Vanguard® Variable
Insurance Fund | |||||
Seeks long-term capital appreciation
and reasonable current income. |
Balanced
Portfolio Investment Adviser: Wellington Management Company LLP |
0.21% |
14.33% |
9.59% |
7.89% |
Seeks long-term capital appreciation. |
Capital Growth
Portfolio Investment Adviser: PRIMECAP Management Company |
0.34% |
27.98% |
14.33% |
12.85% |
Seeks long-term capital appreciation
and income. |
Diversified Value
Portfolio Investment Adviser: Hotchkis and Wiley Capital Management, LLC and Lazard Asset Management LLC |
0.29% |
20.13% |
14.28% |
9.27% |
Investment Objective |
Portfolio Company and
Adviser/Subadviser |
Current
Expenses1 |
Average Annual Total Returns
(as of December 31, 2023) | ||
|
|
|
1 year |
5 year |
10 year |
Seeks above-average level of current
income and reasonable long-term
capital appreciation. |
Equity Income
Portfolio Investment Adviser: Wellington Management Company LLP |
0.29% |
8.10% |
11.57% |
9.53% |
Seeks high level of current income. |
High Yield Bond
Portfolio Investment Adviser: Wellington Management Company LLP |
0.24% |
11.66% |
5.13% |
4.34% |
Seeks long-term capital appreciation. |
International
Portfolio Investment Adviser: Schroder Investment Management North America, Inc. and Baillie Gifford Overseas Ltd |
0.33% |
14.65% |
10.28% |
6.80% |
Seeks current income while
maintaining liquidity and a stable share
price of $1. |
Money Market
Portfolio Investment Adviser: The Vanguard Group, Inc. |
0.15% |
5.05% |
1.86% |
1.30% |
Seeks current income while
maintaining limited price volatility. |
Short-Term Investment-Grade
Portfolio
Investment Adviser: The Vanguard Group, Inc. |
0.14% |
6.16% |
2.13% |
1.93% |
Seeks long-term capital appreciation. |
Small Company Growth
Portfolio Investment Adviser: ArrowMark Colorado Holdings, LLC and The Vanguard Group, Inc. |
0.29% |
19.65% |
9.98% |
7.85% |
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% |
5.58% |
1.04% |
1.71% |
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% |
25.95% |
14.93% |
11.29% |
Name and Principal
Business Address |
Position and Offices
with Minnesota Life |
Second Vice President, Corporate Compliance Officer and Chief Privacy Officer | |
Second Vice President –
Affinity Solutions | |
Vice President – Business Services | |
Senior Vice President – Affinity Solutions | |
Second Vice President – Enterprise Business Development | |
Second Vice President – Law | |
Director | |
Second Vice President – Financial Planning and Analysis | |
Second Vice President – Enterprise Consulting and Project Management | |
Second Vice President – CCO Individual Solutions | |
Second Vice President – Institutional Market Technology |
Name and Principal Business Address |
Position and Offices with Minnesota Life |
Executive Advisor and Chief Strategy Officer | |
Vice President – Operations | |
Director | |
Senior Vice President – Risk and Actuarial | |
Second Vice President – Retail Market Technology | |
Senior Vice President – 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 | |
Second Vice President – Law | |
Executive Vice President – Employee Benefit Solutions | |
Sara H. Gavin President, North America Weber Shandwick 510 Marquette Avenue 13F |
Director |
Vice President – Affinity Solutions |
Name and Principal Business Address |
Position and Offices with Minnesota Life |
Director | |
Vice President – Talent Management | |
Senior Vice President – Chief Information Officer | |
Director, Chairman of the Board, President and CEO | |
Director | |
Second Vice President – Voluntary Benefits | |
Second Vice President – Affinity Solutions | |
Second Vice President and Actuary – Business Services | |
Second Vice President and Chief Actuary – CFO Individual Solutions | |
Second Vice President – Chief Information Security Officer | |
Vice President – Technology Infrastructure and Enterprise Solutions | |
Vice President – Distribution and Relationship Management, Group Benefits |
Name and Principal Business Address |
Position and Offices with Minnesota Life |
Second Vice President – Chief Marketing Officer | |
Director, Attorney-in-Fact, Senior Vice President, General Counsel and Secretary | |
Vice President and Actuary – CFO Group Benefits | |
Second Vice President – Treasurer | |
Second Vice President – Total Rewards | |
Second Vice President – Group Benefits | |
Vice President – Retail Life and Annuity Sales | |
Second Vice President and Chief Risk Officer | |
Second Vice President – Life and Annuity Product Development | |
Vice President – Law | |
Second Vice President – Enterprise Strategy | |
Director | |
Chief Product and Revenue Officer |
Name and Principal Business Address |
Position and Offices with Minnesota Life |
Second Vice President – Chief Audit Executive | |
Director | |
Second Vice President – Securian Business Services | |
Vice President – Human Resources | |
Second Vice President and Actuary, Group National Account Underwriting | |
Second Vice President – Business Operations Employee Benefits Solutions | |
Katia O. Walsh Chief Strategy and Artificial Intelligence Officer, Global Leadership Team Levi Strauss & Co. 115 Battery Street |
Director |
Vice President, Controller and Chief Accounting Officer | |
Director, Executive Vice President and CFO |
Name and Principal Business Address |
Positions and Offices with Underwriter |
Chief Executive Officer, President and Director | |
Director | |
Vice President, Chief Financial Officer, Treasurer, FINOP, Principal Operations Officer and Director | |
Vice President, Chief Compliance Officer and Anti-Money Laundering Compliance Officer | |
Secretary | |
Director | |
Director |
Name of
Principal Underwriter |
Net Underwriting
Discounts and
Commissions |
Compensation on
Redemption |
Brokerage
Commissions |
Other
Compensation |
Securian Financial Services, Inc. |
$50,894,179 |
— |
— |
— |
Signature |
Title |
Date |
Chairman of the Board, President and Chief Executive Officer |
||
* Mary K. Brainerd |
Director |
|
* Robert J. Ehren |
Director |
|
* Benjamin G.S. Fowke III |
Director |
|
* Sara H. Gavin |
Director |
|
* Eric B. Goodman |
Director |
Signature |
Title |
Date |
Director |
||
* Trudy A. Rautio |
Director |
|
* Katia O. Walsh |
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) |
|
30 (c) (2) |
|
30 (c) (3) |
|
30 (d) (1) |
|
30 (d) (2) |
|
30 (d) (3) |
Reserved. |
30 (d) (4) |
|
30 (d) (5) |
|
30 (d) (6) |
|
30 (d) (7) |
|
30 (d) (8) |
|
30 (d) (9) |
|
30 (d) (10) |
Exhibit Number |
Description of Exhibit |
30 (d) (11) |
|
30 (d) (12) |
|
30 (d) (13) |
|
30 (d) (14) |
|
30 (d) (15) |
|
30 (d) (16) |
|
30 (d) (17) |
|
30 (d) (18) |
|
30 (d) (19) |
|
30 (d) (20) |
|
30 (d) (21) |
|
30 (d) (22) |
|
30 (d) (23) |
|
30 (d) (24) |
|
Exhibit Number |
Description of Exhibit |
30 (d) (25) |
|
30 (e) (1) |
|
30 (e) (2) |
|
30 (e) (3) |
|
30 (e) (4) |
|
30 (e) (5) |
|
30 (e) (6) |
|
30 (e) (7) |
|
30 (e) (8) |
|
30 (e) (9) |
|
30 (e) (10) |
|
30 (f) (1) |
|
30 (f) (2) |
Exhibit Number |
Description of Exhibit |
30 (g)(1) |
|
30 (g) (2) |
|
30 (g) (3) |
|
30 (g) (4) |
|
30 (g) (5) |
|
30 (h) (1) (i) |
|
30 (h) (1) (ii) |
|
30 (h) (2) |
|
30 (h) (2) (i) |
|
30 (h) (2) (ii) |
|
Exhibit Number |
Description of Exhibit |
30 (h) (2) (iii) |
|
30 (h) (2) (iv) |
|
30 (h) (3) (i) |
|
30 (h) (3) (ii) |
|
30 (h) (3) (iii) |
|
30 (h) (4) (i) |
|
30 (h) (4) (ii) |
|
30 (h) (4) (iii) |
|
30 (h) (4) (iv) |
|
30 (h) (4) (v) |
|
Exhibit Number |
Description of Exhibit |
30 (h) (4) (vi) |
|
30 (h) (4) (vii) |
|
30 (h) (4) (viii) |
|
30 (h) (4) (ix) |
|
30 (h) (4) (x) |
|
30 (h) (4) (xi) |
|
30 (h) (5) (i) |
|
30 (h) (5) (ii) |
|
30 (h) (5) (iii) |
|
30 (h) (5) (iv) |
Exhibit Number |
Description of Exhibit |
30 (h) (5) (v) |
|
30 (h) (5) (vi) |
|
30 (h) (5) (vii) |
|
30 (h) (5) (viii) |
|
30 (h) (5) (ix) |
|
30 (h) (5) (x) |
|
30 (h) (5) (xi) |
|
30 (h) (5) (xii) |
|
30 (h) (5) (xiii) |
|
30 (h) (6) (i) |
|
Exhibit Number |
Description of Exhibit |
30 (h) (6) (ii) |
|
30 (h) (6) (iii) |
|
30 (h) (6) (iv) |
|
30 (h) (7) (i) |
|
30 (h) (7) (ii) |
|
30 (h) (7) (iii) |
|
30 (h) (7) (iv) |
|
30 (h) (8) (i) |
|
30 (h) (8) (ii) |
|
30 (h) (8) (iii) |
|
30 (h) (8) (iv) |
|
Exhibit Number |
Description of Exhibit |
30 (h) (8) (v) |
|
30 (h) (8) (vi) |
|
30 (h) (9) (i) |
|
30 (h) (9) (ii) |
|
30 (h) (9) (iii) |
|
30 (h) (9) (iv) |
|
30 (h) (9) (v) |
|
30 (h) (9) (vi) |
|
30 (h) (10) (i) |
|
30 (h) (10) (ii) |
|
Exhibit Number |
Description of Exhibit |
30 (h) (10) (iii) |
|
30 (h) (10) (iv) |
|
30 (h) (10) (v) |
|
30 (h) (10) (vi) |
|
30 (h) (10) (vii) |
|
30 (h) (10) (viii) |
|
30 (h) (10) (ix) |
|
30 (h) (10) (x) |
|
30 (h) (10) (xi) |
|
30 (h) (10) (xii) |
|
30 (h) (10) (xiii) |
|
Exhibit Number |
Description of Exhibit |
30 (h) (10) (xiv) |
|
30 (h) (11) (i) |
|
30 (h) (11) (ii) |
|
30 (h) (11) (iii) |
|
30 (h) (11) (iv) |
|
30 (h) (11) (v) |
|
30 (h) (11) (vi) |
|
30 (h) (11) (vii) |
|
30 (h) (11) (viii) |
|
30 (h) (12) (i) |
|
30 (h) (12) (ii) |
|
Exhibit Number |
Description of Exhibit |
30 (h) (12) (iii) |
|
30 (h) (12) (iv) |
|
30 (h) (12) (v) |
|
30 (h) (12) (vi) |
|
30 (h) (12) (vii) |
|
30 (h) (12) (viii) |
|
30 (h) (12) (ix) |
|
30 (h) (13) (i) |
|
30 (h) (13) (ii) |
|
30 (h) (13) (iii) |
|
30 (h) (13) (iv) |
|
30 (h) (13) (v) |
|
Exhibit Number |
Description of Exhibit |
30 (h) (13) (vi) |
|
30 (h) (13) (vii) |
|
30 (h) (13) (viii) |
|
30 (h) (14) (i) |
|
30 (h) (14) (ii) |
|
30 (h) (14) (iii) |
|
30 (h) (15)(i) |
|
30 (h) (15)(ii) |
|
30 (h) (15)(iii) |
|
30 (i) (1) (i) |
|
30 (i) (1) (ii) |
|
30 (i) (2) (i) |
Exhibit Number |
Description of Exhibit |
30 (i) (2) (ii) |
|
30 (i) (3) |
|
30 (i) (4) |
|
30 (i) (5) |
|
30 (j) |
Not Applicable. |
30 (k) |
|
30 (l) |
Not Applicable. |
30 (m) |
Not Applicable. |
30 (n) |
|
30 (o) |
Not Applicable. |
30 (p) |
Not Applicable. |
30 (q) |
|
30 (r) |
Not Applicable. |
30 (s) |
This ‘485BPOS’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/31/25 | ||||
Effective on: | 5/1/24 | |||
Filed on: | 4/26/24 | |||
12/31/23 | 24F-2NT, N-CEN, N-VPFS | |||
8/10/23 | ||||
8/9/23 | ||||
2/15/23 | ||||
12/31/22 | 24F-2NT, N-CEN, N-VPFS | |||
4/30/19 | ||||
8/17/18 | ||||
12/31/17 | 24F-2NT, NSAR-U | |||
9/19/16 | CORRESP | |||
8/22/15 | 485BPOS | |||
5/16/15 | ||||
1/30/15 | ||||
8/19/13 | ||||
4/29/11 | 485BPOS | |||
6/11/07 | ||||
7/30/02 | ||||
10/1/98 | ||||
List all Filings |