Securian Financial Enhances VUL Defender Insurance Product
Securian Financial has announced significant enhancements to its Variable Universal Life (VUL) Defender insurance product, aiming to address the evolving needs of clients amidst rising life expectancies.
The updated VUL Defender continues to feature a competitive guaranteed death benefit while introducing improvements such as enhanced cash value potential and increased policy flexibility. As life expectancies extend, the demand for insurance solutions that mature alongside these trends becomes imperative. Ben Roth, Securian Financial's Vice President of Life and Annuity Product Development, highlighted the need for life insurance strategies to adapt, stating, "Life expectancy has evolved, and the way we help clients plan needs to evolve with it. Permanent life insurance is often purchased with a very long-term objective—to provide protection and ultimately leave a legacy."
Product Enhancements and Strategic Implications
The VUL Defender, originally launched in 2015, has built a reputation for its competitive death benefits. The current updates reflect a strategic move to offer protection and performance across extended lifetimes. These enhancements are essential for financial professionals seeking to align modern business practices with client needs, providing a product tailored for longevity.
Securian Financial's updates are available across all U.S. states and the District of Columbia, with some state-specific exclusions. Insurance carriers, brokers, and brokers-dealers can access further information and support through Securian Financial's life insurance sales team or their independent brokerage partners. The company remains committed to evolving its offerings to meet modern demands.
Industry Context and Securian’s Role
With more than 145 years in the insurance and retirement solutions industry, Securian Financial serves over 23 million customers across the United States and Canada. The company's ability to adapt its products and services demonstrates its leadership in addressing the changing needs of its clientele. Their partnerships across sectors empower them to provide secure planning options for clients seeking sound financial futures.
Understanding the Insurance Product
Insurance professionals should be aware that guarantees, including those of the VUL Defender, depend on the claims-paying capabilities of the insurer. These products come with variable premiums and may incur additional fees and charges based on state policies. The No Lapse Guarantee is one such feature, subject to strict adherence to policy terms. Furthermore, underlying investment components carry market risks, emphasizing the importance of thorough client consultations on product prospectuses.
| Feature | Benefit | Consideration |
|---|---|---|
| Guaranteed Death Benefit | Provides stability for beneficiaries | Varies by insurer's capabilities |
| Cash Value Potential | Increases policy flexibility | Subject to additional fees |
| No Lapse Guarantee | Ensures coverage longevity | Must adhere to policy terms |
In summary, Securian Financial's updated VUL Defender offers enhanced flexibility and reliability, aligning with the company’s strategy of delivering products that adapt to evolving market needs. Insurance professionals should consider these changes when advising clients on long-term financial protection and estate planning.