Investment options by asset manager

Advantus | AIM | American Century | Fidelity | Franklin Templeton
Janus | MFS® | Oppenheimer | Putnam | Van Kampen | Waddell & Reed

» Prospectus. View or download a prospectus

You should consider the investment objectives, risks, charges and expenses of a portfolio and the variable insurance product carefully before investing. The portfolio and variable insurance product prospectuses contain this and other information. You may obtain a copy of the prospectus from your representative or by clicking on the Prospectus link. Please read the prospectuses carefully before investing.

• Minnesota Life General Account

Advantus Series Fund, Inc.

• Advantus Bond¹
• Advantus Index 400 Mid-Cap^{1, 13}
• Advantus Index 500^{1, 13}
• Advantus International Bond^{1, 15}
  Subadvisor: Julius Baer Investment Management, Inc.
• Advantus Money Market^{1, 12}
• Advantus Mortgage Securities^{1, 17}
• Advantus Real Estate Securities^{1, 16}

AIM Variable Insurance Funds

• AIM V.I. Aggressive Growth^{2, 14}
• AIM V.I. Basic Balanced^{2, 33}
• AIM V.I. Demographic Trends^{2, 34}
• AIM V.I. Premier Equity²

American Century Variable Portfolios, Inc.

• American Century VP Income & Growth³
• American Century VP Ultra^{® 3}
• American Century VP Value³

Fidelity Variable Insurance Products Fund

• Fidelity VIP Contrafund^{® 5}
• Fidelity VIP Equity-Income⁵
• Fidelity VIP Mid Cap⁵

Franklin Templeton Variable Insurance Products Trust

• Franklin Large Cap Growth Securities⁶
• Franklin Small-Mid Cap Growth Securities^{6, 14, 20, 32}
• Mutual Shares Securities^{6, 22}
• Templeton Developing Markets Securities^{6, 15, 19}

Janus Aspen Series

• Janus Aspen Balanced⁷
• Janus Aspen Forty^{7, 24, 31}
• Janus Aspen International Growth^{7, 15}

MFS^® Variable Insurance Trust^SM

• MFS^® Investors Growth Stock Series⁸
• MFS^® Mid Cap Growth Series⁸
• MFS^® New Discovery Series^{8, 14}
• MFS^® Value Series⁸

Oppenheimer Variable Account Funds

• Oppenheimer Capital Appreciation⁹
• Oppenheimer High Income^{9, 18}

Panorama Series Fund, Inc.

• Oppenheimer International Growth^{10, 15}

Putnam Variable Trust

• Putnam VT Growth & Income¹¹
• Putnam VT International Equity^{11, 15}
• Putnam VT New Opportunities¹¹
• Putnam VT New Value¹¹
• Putnam VT Voyager¹¹

Van Kampen

• Van Kampen LIT Comstock⁴
• Van Kampen LIT Emerging Growth^{4, 14}
• Van Kampen LIT Growth and Income⁴

W&R Target Funds

• W&R Target Asset Strategy²¹
• W&R Target Balanced²¹
• W&R Target Core Equity²¹
• W&R Target Global Natural Resources^{15, 21, 23}
  Subadvisor: Mackenzie Financial Corporation
• W&R Target Growth²¹
• W&R Target International Growth^{15, 21, 29}
• W&R Target International Value^{15, 21, 30}
  Subadvisor: Templeton Asset Management, Ltd.
• W&R Target Micro Cap Growth^{14, 21}
  Subadvisor: Wall Street Associates
• W&R Target Mid Cap Growth^{20, 21}
• W&R Target Science & Technology^{21, 23}
• W&R Target Small Cap Growth^{14, 21}
• W&R Target Small Cap Value^{14, 21}
  Subadvisor: BlackRock, Inc.
• W&R Target Value²¹

¹ Invests in Advantus Series Fund, Inc.

² Invests in AIM Variable Insurance Funds – Series II Shares

³ Invests in American Century® VP Class II Shares

⁴ Invests in Van Kampen Life Investment Trust Class II Shares

⁵ Invests in Fidelity VIP Service Class 2 Shares

⁶ Invests in Franklin Templeton VIP Trust Class 2 Shares

⁷ Service Shares

⁸ Invests in MFS^® Variable Insurance Trust^SM Service Shares

⁹ Invests in Oppenheimer Variable Account Funds Service Shares

¹⁰ Invests in Panorama Series Fund, Inc. Service Shares

¹¹ Invests in Putnam Variable Trust Class IB Shares

¹² Investments in the Money Market Fund are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the Fund.

¹³ "Standard and Poor's,^®" "S&P,^®" "S&P 500,^®" "S&P MidCap 400,^®" "Standard & Poor's 500," "Standard & Poor's MidCap 400^®" are registered trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by the Advantus Series Fund, Inc. The Fund is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of investing in the fund. This subaccount seeks investment results generally corresponding to the Index from which the subaccount takes its name. You may not invest directly in an Index.

¹⁴ Investments in small company and micro-cap portfolios generally carry a higher level of volatility and risk over the short term.

¹⁵ Investment risks associated with international investing, in addition to other risks, may include currency fluctuations, political and economic instability and differences in accounting standards when investing in foreign markets.

¹⁶ Investment risks associated with the real estate fund/portfolio, in addition to other risks, include rental income fluctuation, depreciation, property tax value changes, and differences in real estate market values.

¹⁷ The risks incurred by mortgage securities include, but are not limited to, reinvestment of prepaid loans at lower rates of return. In addition, the net asset value of mortgage securities may fluctuate in response to changes in interest rates and are not guaranteed.

¹⁸ Bonds and other debt obligations are affected by changes in interest rates and the creditworthiness of their issuers. High yield, lower-rated (junk) bonds generally have greater price swings and higher default risks.

¹⁹ Investments in emerging markets involve heightened risks due to their smaller size and decreased liquidity.

²⁰ Investing in mid-cap stocks may carry more risk than investing in stocks of larger, more well-established companies.

²¹ Invests in W&R Target Funds, Inc.

²² Investments in reorganizing or bankrupt companies, which may include defaulted debt, involve special credit and other risks.

²³ Since this fund focuses its investments on companies in one specified sector, the fund may involve a greater degree of risk than an investment with greater diversification.

²⁴ A "non-diversified" fund has the ability to take larger positions in a smaller number of issuers than a "diversified" fund. Non-diversified funds may experience greater price volatility.

²⁷ Large-capitalization stocks tend to go through cycles of doing better — or worse — than the stock market in general, and, in the past, these periods have lasted for several years. By having significant investments in the technology sector, which has been among the most volatile market sectors, the fund may experience more volatility than a fund with a more broadly diversified portfolio.

²⁹ W&R Target International was renamed W&R Target International Growth, effective December 1, 2004.

³⁰ W&R Target International II was renamed W&R Target International Value, effective December 1, 2004.

³¹ Effective May 1, 2005, Janus Aspen Capital Appreciation Portfolio changed its name to Janus Aspen Forty Portfolio and added to its investment policy to state that it will invest primarily in a core group of 20 to 40 common stocks selected for their growth potential.

³² Franklin Small Cap Fund changed its name to Franklin Small-Mid Cap Growth Securities Fund, effective May 1, 2005. Its main investment strategy changed to investing at least 80% of its net assets in small and mid-capitalization companies.

³³ Effective July 1, 2005, the name will change from AIM V.I. Balanced Fund to AIM V.I. Basic Balanced Fund. The fund will also be changing the objective and strategy. Please see the fund prospectus for more details.

³⁴ Effective on or about July, 1, 2005, the name will change from AIM V.I. Dent Demographic Trends to AIM V.I. Demographic Trends.

Minnesota Life variable products are distributed through:
Securian Financial Services, Inc.
400 Robert Street North, St. Paul, MN 55101-2098
Securities Dealer, Member FINRA/SIPC
1-888-237-1838

Contact a financial advisor or registered representative to find out more. Find Your State AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY

A01950-0605
DOFU 7-2005

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