Securian Introduces Lifetime Income Benefit for MultiOption Variable Annuity

ST. PAUL, Minn., Nov. 15, 2010 /PRNewswire/ -- Encore Lifetime Income, a benefit that can be added to many of the Minnesota Life Insurance Company's MultiOption annuities for an additional cost, gives consumers an opportunity to create an ongoing stream of guaranteed income that helps protect retirement income against market-related risk. Minnesota Life is a subsidiary of Securian Financial Group, Inc.

(Logo:  http://photos.prnewswire.com/prnh/20101025/CG87336LOGO)

(Logo:  http://www.newscom.com/cgi-bin/prnh/20101025/CG87336LOGO)

After the annuity owner reaches age 59 1/2, Encore Lifetime Income allows annuity owners to annually withdraw throughout their lifetimes a percentage of the benefit base, which is equal to the owner's initial contribution (or contract value, if added at anniversary of purchase). It also can be purchased as a joint benefit to include a spouse. Provided the benefit's withdrawal limits are followed, the annual income is guaranteed never to fall and has the potential to rise annually without annuitization.

"Variable annuities are designed to help provide long-term financial security," said Dan Kruse, second VP and actuary, Securian Retirement Distributors. "That's why they can be a good match for the reality of today's retirees. With Encore Lifetime Income, the annuity owner has the security of knowing that income is protected."

The Encore benefit also offers three unique opportunities for potential growth of the guaranteed income that can be locked in.

• On each contract anniversary, the benefit base is reset to the current contract value, if higher. This could also raise the amount that can be withdrawn each year. Provided the benefit's withdrawal limits are followed, the annuity owner never loses those gains to their annual withdrawal amount even if the contract value later declines. A reset could increase the cost of the benefit.
• For each year (up to 10 years) the annuity owner postpones withdrawals, the benefit base rises 5%. This increases the amount of guaranteed income available in later years, but it does not add to the contract value. When applicable, the benefit base will be increased by either the reset, or the 5% enhancement, whichever is higher.
• The initial guaranteed annual income percentage is based on the age of the annuity owner when the benefit is added, with 4% being the lowest and 6% the highest. Depending on the owner's age, the percentage could rise annually.

"The prospect of guaranteed lifetime income can go a long way in helping consumers confidently pursue retirement goals," said Kruse. "Encore Lifetime Income provides a flexible range of investments and asset allocation choices, the freedom to take income now or later, and the confidence and control that comes with income guaranteed for life."

Encore establishes a benefit base for calculating guaranteed annual income. The benefit base provides no minimum contract value or investment return and is not available for withdrawal. All withdrawals reduce your contract value, the benefit base, and the value of any death benefits. Withdrawals exceeding allowed guidelines or taken before the benefit date may have a negative impact on Encore's guarantees.

Encore must remain in place seven years and requires use of an approved asset allocation strategy. Encore Lifetime Income is an optional living benefit available for an additional cost in MultiOption Advisor B Class, Legend and Extra based on state approval. Guarantees are based on the financial strength and claims paying ability of Minnesota Life. The guarantees have no bearing on the performance of the variable investment options.

An annuity is a long-term, tax deferred investment vehicle designed for retirement. Earnings are taxable as ordinary income when distributed, and if withdrawn before age 59 1/2, may be subject to a 10% federal tax penalty. If the annuity will fund an IRA or other tax qualified plan, the tax-deferral feature offers no additional value. Not FDIC/NCUA insured. Not bank guaranteed. Not insured by any Federal Government Agency. There are charges and expenses associated with annuities, such as deferred sales charges for early withdrawals. Variable annuities have additional expenses such as mortality and expense risk, administrative charges, investment management fees and rider fees. Variable annuities are subject to market fluctuation, investment risk and loss of principal.

The cost of Encore is 1.10% (Single), or 1.30% (Joint). The benefit charge may increase upon a reset but will not exceed a maximum of 1.75% (Single), 2.00% (Joint).

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 prospectuses carefully before investing.

This information should not be considered tax advice. You should consult your tax advisor regarding your own tax situation.

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. Variable products are distributed by Securian Financial Services, Inc., member FINRA/SIPC.

DOFU - 10-13-2010

A04294-1010

SOURCE Securian Financial Group, Inc.