US-based Securian Financial Group and Annexus have introduced new Balanced Growth Advantage (BGA), an indexed universal life (IUL) insurance policy with uncapped interest crediting potential.


Securian has co-developed the new BGA product, along with Annexus and its product design partner Genesis Financial.

Securian’s subsidiary Minnesota Life Insurance will underwrite the new BGA IUL insurance policy.

BGA enables clients to benefit from the growth of the S&P 500 Price Index compared to while most of the traditional IUL policies that offer interest up to a cap.

It will also provide protection from downside markets and partial credits applied to accumulation value withdrawn from the Balanced Indexed Accounts, including policy charges.

The new product is marketed through the Annexus network of independent marketing organizations and Securian Financial Network-affiliated advisors.

Securian retail product distribution vice president Larry Cochrane said: "Balanced Growth Advantage IUL is for clients who want permanent life insurance and the ability to build cash value with protection from negative market performance.

"In addition to providing death benefit protection, the policy can help clients accumulate assets to supplement retirement income or cover other financial needs that may arise later in life."

Annexus co-founder Don Dady said: "It’s natural to take the uncapped indexed crediting designs in our fixed indexed annuities and bring them to an indexed universal life insurance policy."

According to Securian, the IUL represented 21% of all new individual life premium in 2015.

Securian provides insurance, investments and retirement plans to its customers, while Annexus designs insurance solutions combining principal protection with index growth opportunities.

Image: Securian Financial Group corporate headquarters in downtown St. Paul, Minnesota. Photo: courtesy of Securian Financial Group, Inc.