Securian Financial Group and Annexus have formed an alliance and have launched a new indexed universal life (“IUL”) insurance policy with uncapped interest crediting potential.

“'Balanced Growth Advantage' IUL is for clients who want permanent life insurance and the ability to build cash value with protection from negative market performance,” said Larry Cochrane, Securian's vice president of retail product distribution. “In addition to providing death benefit protection, the policy can help clients accumulate assets to supplement retirement income or cover other financial needs that may arise later in life.”

According to Securian, a key feature of Balanced Growth Advantage (“BGA”), relative to traditional IUL policies, is its uncapped interest crediting potential, offering clients the ability to benefit from the growth of the S&P 500 Price Index subject to an index allocation factor. The company added that clients also benefit from protection from downside markets and partial credits applied to accumulation value withdrawn from the balanced indexed accounts, including policy charges. “It's natural to take the uncapped indexed crediting designs in our fixed indexed annuities and bring them to an indexed universal life insurance policy,” said Don Dady, co-founder of Annexus.