Company Overview of Minnesota Life Insurance Company
Minnesota Life Insurance Company, through its subsidiaries, provides various insurance, and financial products and services primarily to individuals and families in the United States. It offers annuity products for financial security in retirement; a range of life insurance products for various financial needs; group insurance for employers; and retirement products. The company was founded in 1880 and is headquartered in St. Paul, Minnesota. Minnesota Life Insurance Company is a subsidiary of Securian Financial Group, Inc.
400 Robert Street North
St. Paul, MN 55101
Founded in 1880
Key Executives for Minnesota Life Insurance Company
Vice Chairman and Executive Vice President
Chief Information Officer and Senior Vice President
Compensation as of Fiscal Year 2014.
Minnesota Life Insurance Company Key Developments
Minnesota Life Insurance Company Launches Voluntary Group Critical Illness Insurance
Jul 10 14
Minnesota Life Insurance Company offers employers group critical illness insurance, a tool employees can use to cope with the financial challenges related to critical illnesses. Group critical illness insurance provides lump sum payments to employees who are diagnosed with one of the covered conditions listed in the policy and when all of the other policy conditions are met. The lump-sum benefit can be used to cover any expenses such as child care, mortgage payments or out-of-pocket medical costs. Employers can tailor their group critical illness insurance plans to meet the unique requirements of their benefits strategies and employee populations. The policy offered by Minnesota Life has features which include: 25 covered conditions; Guaranteed issue amounts for employees, spouses and children; Multiple payout and recurrence provisions.
Minnesota Life Insurance Company Introduces New Benefit for its Indexed Universal Life Products
Sep 16 13
Minnesota Life Insurance Company introduced a new benefit for its indexed universal life products that keeps it at the forefront of the market. The company introduced its latest improved offering for new and existing policies. The Index Crediting Bonus, when applied, provides a 1% annual bonus based on index credits received over a 120-month rolling period. The company may apply the credit to the accumulation value which compounds each year and could help raise index credits and distribution amounts. The company said that existing Eclipse Protector policies with the Death Benefit Guarantee Agreement were also enhanced with the Performance Death Benefit Guarantee Agreement at no additional charge. Additional enhancements that benefit certain existing policyholders include more index options, dollar cost averaging, the opportunity to switch between fixed and variable loans and systematic distributions.
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