- Interest earnings that track the performance of well-known indices.
- Protection from negative market performance, since interest credited can never be less than zero.
- Locked-in interest earnings, with the potential for continued future growth.
- Access to your money in an emergency.
- The ability to accumulate savings faster through tax-deferred compounding.
- Income guaranteed for life, an option you can choose by annuitizing your contract or by adding an Optional Lifetime Income Benefit for an additional cost.
- A death benefit for your beneficiaries.
Protecting your future retirement income shouldn’t mean having to rely on the safety of fixed investments with no potential for growth.
Although fixed investments may be secure, they may not keep up with inflation.
But participating in the stock markets for the growth you seek opens you to potential losses, leaving a gap in your retirement savings goals.
Securian SecureLink Future combines both protection and growth, helping you create a more confident path to your retirement.
How does SecureLink Future work?
SecureLink Future offers the opportunity to earn interest that’s linked to the changes in the performance of an index.
By tracking the performance of an index (S&P 500 Index and Barclays All Caps Trailblazer 5 Index) in order to earn interest, you’re in a position to potentially earn higher interest than you would with many fixed-interest products.
Remember, you are not investing in the stock market.
Your purchase payments can be placed in up to four account options.
At the end of the designated crediting period (one or two-year term), your account may receive an index credit or positive interest, based on how well that index performed.
Protection when it matters
If the indices experience a negative performance, you’re protected.
That’s because the interest you’re credited will never be less than zero.
Any interest earnings applied to your SecureLink Future annuity are locked in – no matter what changes you make in the years to follow.
And those earnings have the potential for continued future growth.
Access to your money
Flexible withdrawals in an annuity may be hard to come by, but with SecureLink Future, you can access a portion of your annuity’s value without the contract penalty. The minimum withdrawal amount is $250.
Free withdrawal amount
After the first contract year, you may access up to 10% of your annuity’s contract value (as of the prior contract anniversary) without incurring a surrender charge. If you need to withdraw more than 10%, there is a surrender charge during the first seven years.
If you’re 72 or older, you may withdraw any additional amount needed to meet the IRS Required Minimum Distribution (RMD) from this contract for that year. Keep in mind that withdrawals prior to age 59½ may be subject to a 10% federal tax penalty.
Surrender charge on withdrawal
You may access your entire contract value after the seventh contract year without any contract charges.
The following charge applies to withdrawals above the amount allowed.
The charge is a percentage of the additional amount withdrawn.
Remember, the “free withdrawal amount” is not available upon surrender.
A surrender charge would result in a reduction to the contract owner’s principal upon withdrawal or surrender in the early years of the contract.
The surrender charge is waived if you decide to annuitize and receive regular income payments from your annuity or if the annuity owner dies.
Keep in mind that all withdrawals reduce the contract, surrender, and death benefit values.
Guaranteed Minimum Surrender Value
If you decide to surrender your SecureLink Future annuity contract, you have another layer of protection with the Guaranteed Minimum Surrender Value. It’s equal to 87.5% of your purchase payments, accumulated at the Guaranteed Minimum Surrender Value interest rates, and adjusted for amounts withdrawn. The interest rates are between 1-3% and are guaranteed for the life of your contract.
The value available at surrender will be the greater of your contract value – less any surrender charges – or the Guaranteed Minimum Surrender Value.
Protection for your loved ones
SecureLink Future provides additional protection for you and your loved ones. If you die, your beneficiary will receive the greater of the contract value or the Guaranteed Minimum Surrender Value.
Minnesota Life Insurance is also an inexpensive way to leave a death benefit to beneficiaries.
Tax deferral improves your long-term earnings
The interest you earn remains in your SecureLink Future annuity and has the potential to continue growing on a tax-deferred basis. Because you don’t pay taxes until you make withdrawals, those locked-in earnings can help your savings accumulate faster. Then when you’re ready, you control when you take withdrawals and pay taxes.
Secure your future with guarantees
When it’s time to take income from your SecureLink Future annuity, you have different choices that offer different benefits. If you prefer guaranteed income with flexibility and growth potential, you can add the Achiever Lifetime Income benefit, for an additional cost. Or, if you seek the reliability of a guaranteed stream of income, you can choose to annuitize your contract.
Lifetime Income Benefit
If you’re seeking guaranteed income for life, combined with guaranteed growth of your future income, Securian offers the Achiever Lifetime Income optional benefit.
Use a lifetime annuity calculator to get an idea of what your retirement income could be!
This benefit allows you the flexibility to take withdrawals via your Guaranteed Annual Income from your contract for the rest of your life, even if your contract value falls to zero (unless you make excess withdrawals).
The Achiever Lifetime Income benefit also offers opportunities that guarantee the growth of your future income, regardless of the performance of your SecureLink Future account options.
Related Article: How much does a $250,000 annuity pay?
An advantage annuities offer over other fixed products is the ability to annuitize or turn your assets into a guaranteed stream of income that lasts a lifetime. Payments from Securian retirement plans are guaranteed by the financial strength of Minnesota Life.
Your contract will generally annuitize at the earlier of the date that you elect or the contract’s maturity date at age 95.
Keep in mind, the payout choice you select is final and usually can’t be changed. So make sure you understand your choices and the option that will work best for you.
INCOME PAYMENT OPTIONS INCLUDE:
- Income for a set period of time: Guarantees income for a span of years.
- Income-based on one life: A variety of income options that provide income for you or you and your beneficiaries.
- Income-based on two lives: A variety of income options for you and your spouse or another individual.