Securian Announces Changes to EVA on Select Products

As of November 1st, Securian made changes to the Early Values Agreement, allowing the charge to be waived starting 11 years after the later of the policy issue date, or the most recent face increase for multiple products. Read on for the details!

This positive change will impact some policyholders with products that have the Early Values Agreement (EVA). The EVA charge will be waived starting 11 years after the later of the policy issue date, or the most recent face increase for the following products:

• Eclipse Indexed Universal Life (IUL)

• Eclipse IUL (NY)

• Eclipse Survivor IUL

• Eclipse Survivor IUL (NY)

• Omega Builder IUL

• Balanced Growth Advantage IUL

• Balanced Growth Accumulator IUL

• Orion IUL

This change will not affect any other currently sold products as most use a different version of the EVA that only charges during the surrender charge period.

Illustration and system updates went live on November 1, 2023. While the impact of this change varies depending on the age of the policy and when distributions are taken, the impact will always be positive.

In general, the older the policy and the farther out distributions are illustrated, the more impactful the removal of the EVA charge will be on illustrated distributions.

An inforce illustration can be used to see the projected impact to policy values. For assistance with running an inforce illustration please reach out to our inforce case design team at 651-665-3746.