Securian has added Eclipse Survivor Pro to its suite of Eclipse Indexed Universal Life Insurance. The protection-focused, survivorship universal life policy helps protect assets by providing an income tax free death benefit to help pay estate taxes and ensure clients' assets transfer to the next generation.
Minnesota Life Insurance Company, Securian's largest subsidiary, is the first life insurer to offer this type of agreement on a index-linked life product.
Eclipse Survivor Pro Indexed Universal Life features the optional Performance Death Benefit Guarantee Agreement (Performance DBGA). The Performance DBGA allows for strong index account crediting over time to potentially improve the death benefit guarantee in four ways:
- Extend the length of the guarantee;
- Lower the premium;
- A combination of both or;
- Use the cash value towards a single premium to pay up the policy.
"Eclipse Survivor Pro offers life insurance protection on two individuals, with the benefits paid upon the passing of the second insured," said Andrea Mack, director, Life Product Promotions, Securian Financial Group, Inc.
Clients most likely to consider Eclipse Survivor Pro are couples aged 40 to 70 who want:
- Help with estate planning;
- Flexibility with a death benefit guarantee;
- Multiple index crediting options;
- A single pay option.
Eclipse Survivor Pro also offers an Estate Preservation Agreement Choice that provides the option to elect a four year term benefit at the death of the designated insured without underwriting. The benefit amount is determined when the policy is issued.
In other industry news:
Burnham Benefits Insurance Services, Irvine, Calif., hired Scott Aston as its newest vice president, a role that will leverage his knowledge and experience on both the brokerage and carrier sides of the business.
Aston will focus on new business products, business development, account retention and technology platforms. Aston brings experience in human resources information systems (HRIS), self-funded programs, and health care reform.
Aston most recently served as vice president of employee benefits for BB&T Insurance Services of California. He has worked for Great-West Healthcare and New England Financial and earned a degree in business administration from Pepperdine University. He holds the Group Benefits Disability Specialist (GBDS) accreditation and belongs to the Blue Shield Broker Advisory Council, the Orange County Employee Benefits Council, and the Employee Benefit Planning Association of Southern California.
Pacific Life, Newport Beach, Calif., promoted T. Anthony Premer to senior vice president, Real Estate Investments, effective Jan. 1, 2013. Premer will succeed Michael Robb who will be retiring at the end of the year after a 36-year career with Pacific Life.
Premer joined Pacific Life in 1993 and most recently has been serving as senior vice president, Real Estate Finance. During his tenure with Pacific Life, he has participated in the origination of commercial real estate debt assets exceeding $22 billion, including real estate capital markets transactions exceeding $10 billion. In his new role, Mr. Premer will be responsible for managing the company's portfolio of real estate debt and equity investments which, together with assets serviced for third parties, totals over $28 billion. As part of this succession, Mr. Premer will report to Khanh Tran, Pacific Life's president.
