Whether offered as basic or voluntary plans, group insurance products are the mainstay of most benefits programs.
Group term life insurance provides protection for a specific period of time. It pays a benefit only if the insured dies during the term. There is no cash value buildup in a term life insurance policy.
GUL combines the protection of life insurance with the option to build savings through a cash value account that earns a fixed rate of interest.
VGUL combines flexible life insurance with the option to invest in a variety of investment options and make allocations to a Guaranteed Account.
For VGUL, the investment subaccounts offer a variety of potential risks and rates of return so that employees can individualize their investments to help meet personal financial objectives. Investments will fluctuate and when redeemed, may be worth more or less than originally invested. Plans may be designed to include a Guaranteed Account that offers a fixed rate of return guaranteed to never fall below three percent. The guarantees for the Guaranteed Account are based solely on the financial strength and claims-paying ability of Minnesota Life. However, they do not have any bearing on the performance of the investment options.
AD&D coverage provides a benefit if an insured's death or dismemberment is due to a covered accident, whether it occurs at work or elsewhere.
Business travel accident insurance provides a lump-sum benefit if an insured's death or dismemberment is due to a covered accident, while on the business of the employer.
If an insured is diagnosed with a covered condition in the policy, and meets all policy requirements, Critical illness insurance provides a lump-sum benefit that can be used any way the insured chooses to cover expenses such as child care, mortgage payments or out-of-pocket medical costs.
Accidents can happen to anyone. If the insured experiences an accidental injury covered in the policy, they can get a payout to use any way they wish to cover deductibles, out-of-pocket medical costs or everyday living expenses.
Hospitalization is a lot more common than people may realize. And when it happens, it can be costly. Hospital indemnity insurance provides a predetermined benefit amount while the insured is in the hospital. Benefit amounts are not dependent upon the hospital charges and are paid in addition to any other benefits the insured may receive. Hospital indemnity insurance benefits can be used to help pay out of pocket and non-covered expenses, as well as help with additional cost of living expenses.
VGUL is distributed through Securian Financial Services, Inc., Member FINRA/SIPC. 400 Robert Street North, St. Paul, MN 55101, 1-888-237-1838.
You should consider the investment objectives, risks, charges and expenses of a portfolio and the variable insurance product carefully before investing. The portfolio and variable insurance product prospectuses contain this and other information. You may obtain a copy of the prospectus from your representative. Please read the prospectus carefully before investing.
The guarantees for the Guaranteed Account are based on the financial strength and claims-paying ability of Minnesota Life, which are important; however, they do not have any bearing on the performance of the variable subaccount. Investments in the variable subaccounts will fluctuate and the cash value available for loans, withdrawals or redemption may be worth more or less than when originally invested. Since it is primarily an insurance product, VGUL does contain fees and expenses such as management fees, fund expenses, distribution fees and mortality expense charges. The variable investment options are subject to market risk, including loss of principal.
Critical illness insurance - This policy provides limited benefits. This policy has exclusions, limitations, reduction of benefits, terms under which the policy may be continued in force or discontinued. For costs and complete details of coverage, contact Securian Financial Group. Products are offered under policy form series 13-31600 (MLIC) or 14-32000 (SLIC) or a state variation thereof. Product availability and features may vary by state.
Accident insurance - This policy provides limited benefits. This policy has exclusions, limitations, reduction of benefits, terms under which the policy may be continued in force or discontinued. For costs and complete details of coverage, contact Securian Financial Group. Products are offered under policy form series 15-32400 or a state variation thereof. Product availability and features may vary by state.
Hospital indemnity insurance - This policy provides limited benefits. This policy has exclusions, limitations, reduction of benefits, terms under which the policy may be continued in force or discontinued. For costs and complete details of coverage, contact Securian Financial Group. Products are offered under policy form series 15-32470 or a state variation thereof. Product availability and features may vary by state.
