Minnesota Life SecureOption Focus 1

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The SecureOption Focus 1 from Minnesota Life is a single-premium annuity that accepts additional premium payments within the first 6 months. This annuity offers a 1-year fixed interest rate, a 7-year surrender charge duration, and is meant for investors who are looking to include annuities in their retirement planning arsenal (it’s not ideal for shorter-term financial goals). The SecureOption Focus 1 annuity is available as a low band ($10,000-$34,999), medium band ($35,000-$99,999), or high band ($100,000 – $1,000,000) investment.

SecureOption Focus 1 Annuity Facts

  • Maximum issue ages – 88 years
  • Minimum single premium – $10,000
  • Maximum single premium – $1 million
  • Return of Premium Rider – this guarantees that you surrender value is never less than your entire purchase payments minus withdrawals. However, note that any withdrawals taken before the age of 59½ years might be subjected to a 10% federal tax penalty.
  • Free withdrawals – starting the first contract year, contract owners might withdraw up to 10% of their contract value free of any withdrawal charges.
  • Systematic withdrawals are available
  • Surrender Charge Schedule
Contract Year 1 2 3



5 6 7
Surrender Charge (in %) 7 7 7 6 5 4 3
  • Annuitization – the annuitization age restriction is 95 years. Various annuitization options are available. These include Life Only, Life with Period Certain, and Life with Installment Refund.
  • Terminal Illness Waiver – following the first contract anniversary, the investor is allowed charge-free access to their account value if they’re diagnosed with a terminal illness that’s expected to cause death within 12 months.
  • Minimum Distributions – any excess amount needed to meet IRS minimum distributions is not subjected to withdrawal charges.
  • Extended Care Waiver – after the first contract anniversary, if the annuity owner is confined to a health care center for a period of time not less than 90 days, then they’re allowed to access up to 100% of their contract value free of any charges.
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