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Is Minnesota Life Eclipse still the best EIUL? January 21, 2014

Posted by shaferfinancial in Finance, mutual funds.
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Each year I look at the full market for Equity Indexed Universal Life Policies to determine which ones I will sell in the coming year. For the last few years the results have been fairly stable, despite many changes to existing policies and several new EIULs entering the market place.

This year is no different. Minnesota Life in my opinion is still #1. The Eclipse has several changes made to it that improved the overall performance.

1. A bonus was added for years 11 and up.
2. Index options where changed. Most notably a blended option was added.
3. Underwriting was improved for those folks who had 1 blemish on their health report.

My thoughts on why the ML Eclipse is still the best EIUL going forward:

1. They added a bonus to not only future policy owners but ALL policy owners so some folks will get there first bonus this year.
2. They still are the most policy holder friendly life insurer out there
3. They continue to have a history of the best performance of all EIULs on the market
4. The new blended index option has the highest 20 year look-back of all options available.
5. They have very fair underwriting
6. The company still is highly rated [93 Comdex]
7. When they make changes it is to make the product better for the policy holders

I sleep well putting folks into the Eclipse, knowing that their premium is safe and compounding at the highest rate possible in an EIUL.

Over the more than 10 years that the Eclipse has been around it has worked exactly how it is advertised to work giving folks more than 8% average returns over that time period. All the detractors of using EIULs for retirement savings now have only some vague fear to sell folks as we now have enough data to know this product works well for tax free retirement income.

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