Securian Financial Life Insurance Review

3 min read

The policies offered by Securian Financial Life Insurance are as expected, and you have the option of viewing your account information online. Your loved ones can even use an online form to collect the death benefit, which is a feature that not all life insurance companies provide. Having been in business for over 140 years, the company also has a wealth of knowledge and expertise to draw on.

However, Securian’s business ratings from the BBB and J.D. Power fall short of those of its rivals.

Securian Financial life insurance rates

Securian Financial Life Insurance review - Securian Financial Company Logo

The cost of your Securian insurance is determined by the kind of policy you choose and the scope of coverage you require. Monthly premiums range from $50 to $150 for term life insurance and $250 to $1,000 for whole life insurance, on average.

What affects my rate with Securian Financial

Life insurance rates are affected by the following variables:

  • Age
  • Health in general
  • The use of tobacco and alcohol
  • Work and pastimes
  • Policy type and entrants
  • Amount of protection

How do I get a quote for Securian Financial life insurance?

There are three ways to get life insurance: online, via phone, or by working with a financial counselor.

To become a member, simply follow these simple steps:

  1. From the Securian home page, go to Products & Services and select the insurance policy you want to learn more about.
  2. Click Call 877-491-5271 or speak with someone on the right side about your requirements.
  3. Complete the following information about yourself: name, age, country of residence, and preferred means of communication.
  4. At the bottom of the form, you can ask any questions and then click Send.
  5. Consult with an insurance agent about your alternatives.
  6. Complete the papers, make the final payment, and get started with your insurance coverage.

What types of life insurance coverage does Securian Financial offer?

Insurance options from Securian Financial are available to suit a wide range of needs and lifestyles. These are only a few examples:

  • Term life. For a specified length of time, such as 10 to 30 years, these regulations impose high limitations. Once the term policy with Securian expires, you can convert it to permanent life insurance with Securian.
  • Group term life. Group term plans can be offered to employees by employers as a perk or as a cost-sharing arrangement.
  • Whole life. These long-term life insurance policies offer protection for the rest of your life and include investment growth as well. A fixed interest rate ensures your assets grow at the same pace each year.
  • Universal. These long-term life insurance policies have a greater return on investment and allow you to tailor your coverage to your changing needs throughout your life. Choose from universal policies that are fixed, indexed, or variable.

What riders can I add to my policy?

Select insurance from Securian comes with a number of add-on features that you may choose from.

  • Accelerated death benefit. A part of your policy’s death benefit may also be used to cover the costs of a chronic or terminal sickness. Any money you spend now will be deducted from your estate’s final payout.
  • Rider who is under the age of 18. Provides a death benefit in the event of the death of your kid without the need for a separate policy.
  • Long-term care insurance policy. Care at home or in a nursing home may be covered by some plans if you are unable to do so.
  • Rider with a spouse. Provides a death benefit in the event of the death of your spouse without the need for a separate policy.
  • Rider waiving the right to a higher price. In the event of incapacity, catastrophic sickness, or injury, your premium payments are waived.

Despite the fact that they aren’t included on Securian’s website, the following rider alternatives are accessible to numerous companies:

  • Spouse. Many insurance policies let you add your spouse as an extra insured for a fee.
  • Dependent. Dependents like children, disabled adult children, or elderly parents under your care can be covered by some plans.
  • Waiver of premiums. This rider is offered by several firms in case you are unable to work due to a handicap. In the meanwhile, you can keep your insurance without having to pay a premium.

Securian Financial life insurance reviews and complaints

As of October 2020, the Better Business Bureau assigned Securian Financial a B+ letter grade. While Securian has an A + BBB rating, Minnesota Life, a subsidiary firm, just relaunched under the Securian name. With a BBB rating of a D-, Securian has had over 29 complaints, ranging from billing problems to poor customer service.

The J.D. Power 2020 US Life Insurance Study similarly gave Securian a subpar grade.
On the other hand, according to the NAIC 2019 complaint index, Securian sees a score of 1.13 out of 1.00. According to this data, the number of complaints received by this firm is much lower than the industry average.

About Securian

In 2018, Minnesota Life adopted the Securian Financial brand from its parent firm. It’s in the best interests of both firms to bring their brands and communications together.

Former Minnesota Life clients will now get messages from Securian Financial instead of Minnesota Life. However, the fundamental structure and ideals of your firm and its policy will not change.

You may check out our Sagicor Life Insurance review.