New Minnesota Life Term Product Offers Guaranteed Benefits with Affordable Premiums - Business Wire
ST. PAUL, Minn.--()--Minnesota Life Insurance Company will replace its existing term product, Advantage Elite, with Advantage Elite Select in all states except New York, effective May 21.
"This product provides clients with life insurance on their terms"
With the launch of Advantage Elite Select, Minnesota Life – Securian Financial Group's largest subsidiary – also will introduce Express Issue, a streamlined process allowing clients to purchase life insurance in a matter of days. It is available on policies for $250,000 or more, offers a three- to five-day turnaround from receipt of the tele-interview and requires no physical exams or medical blood work.
"This product provides clients with life insurance on their terms," said Andrea Mack, director, Life Product Promotions, Securian Financial Group. "It helps them purchase the coverage they want when they want it."
Advantage Elite Select also offers:
- A guaranteed death benefit for five, 10, 15, 20, or 30 years;
- Shortened conversion periods. Five, 10, and 15 year durations have five year conversion periods; 20 and 30 year durations have 10 year conversion periods during which the insured may convert the coverage into permanent life insurance without requiring additional underwriting or evidence of insurability;
- For an additional premium, an extended conversion agreement allows the insured to extend the conversion period for the full duration of the policy or age 75, whichever is earlier.
Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation's largest financial services providers, it is the holding company parent of a group of companies that include Minnesota Life Insurance Company and Securian Life Insurance Company, a New York admitted insurer.
Securian Financial Group, Inc. www.securian.com. Insurance products are issued by Minnesota Life Insurance Company in all states except New York. In New York, products are issued by Securian Life Insurance Company, a New York admitted insurer. Both companies are headquartered in St. Paul, MN. Product availability and features may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues. 400 Robert Street North, St. Paul, MN 55101-2098
DOFU – 0512
A01884-0512
14 May, 2012
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Source: http://eon.businesswire.com/news/eon/20120514006164/en/life-insurance/personal-finance/life-insurance
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