Securian Life Insurance Review

Securian Life Insurance company can be a great option for you and we know this because we work with them! However, as a modern day consumer, you have a lot of options and need to review all the important facts before making a decision. In this article, we will break this company down so you can decide what to do next. Here is a quick summary:

Just like many other big box life insurance companies, Securian/ Minnesota Mutual Life also takes great pride in their community involvement.
Securian Life has been rated an “A+” by both A.M Best and Standard & Poor’s. They have also been rated an “AA” by Fitch’s Ratings and an “Aa3” by Moody’s.
Securian offers Whole life, Universal life, Indexed Universal life and Term life insurance products.
Securian Life is the parent company of Minnesota Life so we figured we could provide a quick review of the company.
If you are looking for a policy that has a no medical exam option then Securian is not the way to go because they don’t offer a no medical exam policy.

Giving Back to the Community

Just like many other big box life insurance companies, Securian/ Minnesota Mutual Life also takes great pride in their community involvement. On their website, they state that throughout their 137-year history, Securian has made giving back to their communities a priority. They have given more than $25 million in cash gifts to their community in the past 10 years. Since 2007 when including the cash gifts and corporate volunteerism, Securian gave away nearly $37 million.

Just last year alone the company contributed nearly $3.4 million in cash gifts and more than $1.8 million of volunteer services. They say that 90% of their associates participate in their Annual Greater Twin Cities United Way campaign. In that campaign, they raised $1 million last year alone and $691,000 in which came directly from their associated. Aside from that campaign they have also been involved in many other organizations and campaigns such as Dorthy Day Center, Habitat for Humanity, Securian Ethics Essay Competition, Mentoring programs, School supply drives, Securian Winter Run, Blood Drives, and Securian Scholarship Fund.

Securian Financial Group Life Insurance Review 2017

You are probably wondering why above we talked about Minnesota Life Insurance Company and that is because Securian Financial Group Inc. is the parent company of Minnesota Life. They have served nearly 16 million customers and have more than $1.15 trillion of insurance in force. They also employ more than 5,000 associates and have more than $65 billion of assets under management. It is important to know a company’s assets because it shows how capable they are of paying out their life insurance policies. Securian offers Whole life, Universal life, Indexed Universal life and Term life insurance products.

Securian Life Insurance Company’s Ratings

It is super important to look at a company’s rating because it shows how financially stable a company is. Securian Life has been rated an “A+” by both A.M Best and Standard & Poor’s. They have also been rated an “AA” by Fitch’s Ratings and an “Aa3” by Moody’s. These ratings show that Securian Life is a financially stable company which means that if anything were to happen to them they would be able to hold their ground and stand tall and strong.

Securian Life’s Benefits or Products

Securian Life Insurance Company provides Whole life, Universal life, Indexed life, and Term life insurance products. Before we go into the highlights of these products let’s take a moment to review what these terms mean. A term life policy is an ideal choice for getting protected for a short time frame. A Whole life insurance policy is a form of permanent life insurance and provides coverage for an entire lifetime and offers cash value accumulation. Universal life insurance and Indexed life insurance are both a form of permanent life insurance that provides coverage for an entire lifetime, they both accumulate cash value. Universal life offers flexibility and Indexed life offers cash value but with investment options.

Life on your Terms (Term Life)

With this product, you can choose your term length of 5, 10, 15, 20, or 30-years.
Your premiums are level, which means that your rates are not going to change nor will your coverage as long as you make timely payments.
Your premiums are also level or fixed which means that your premiums will never increase during the term length you choose.
At the end of your term, you can choose to renew your coverage on an annual basis.
You can also convert to any of Minnesota Life’s permanent products during the term without having to prove insurability, so no medical exams necessary.
This type of insurance is the most affordable of all the other insurance types.
Your death benefit will also have a tax advantage. Which means that your beneficiaries don’t have to pay income taxes on your death benefit.
This policy allows you to continue your business by creating a buy-sell arrangement or by purchasing key employee coverage to make sure your business stays running after your death.
Optional riders available with this product are; Accelerated Benefit Agreement Rider, Children’s Term Agreement Rider, Extended Conversion Agreement Rider, and Waiver of Premium Agreement Rider.

Whole Life

With this product, you will have the opportunity to be covered for your entire life.
As long as you pay your premiums you will be covered.
Your premiums are also leveled or fixed which means they will never increase.
Your death benefit is also guaranteed as long as you have coverage.
If you choose to convert to another policy you can do so with this product.
This policy allows you to build and accumulate cash value.
This cash value is also available for any emergency through loans or borrowing against the policy.

Universal Life

This product allows you to have coverage for your entire life.
This is also the most flexible policy available.
You have the option of adjusting your payments to fit your changing needs as your life changes.
You also have the option of making your premiums fixed or having your premiums be a consistent amount so that you don’t have any surprises.
You can build and accumulate cash value.
If you don’t pay the recommend premium it can cause your policy to lapse.

Indexed Universal Life

This policy allows you to receive coverage for your entire life.
If you are looking for a crediting potential then this policy may be the way to go.
You build and accumulate cash value with this policy.
You can access this cash value accumulation through loans or borrowing against your policy.
It’s important to remember that this policy comes with a cap and a floor.
Your cash growth will depend on the market and how it performs.
This can either increase or decrease your cash value.
Your death benefit is guaranteed.

About Minnesota Life

Like we mentioned before, Securian Life is the parent company of Minnesota Life so we figured we could provide a quick review of the company. They were founded in 1880 and has more than $1 trillion in life insurance policies in force. Minnesota Life is also rated an “A+” according to A.M Best. They offer Term life, Whole life, Universal life, Indexed Universal life, and Variable Universal life insurance products. The company offers an “Express issue” option for their term life policies under $250,000 and it is basically an application process with no medical exam and can have you insured in 24 hours! For more information about Minnesota Life feel free to click here-> Minnesota Life.

You have more options!

Securian is actually a pretty great company with some benefit rich plans to protect your family. It is a great choice to go with and you won’t lose sleep at night wondering if the company will be in business tomorrow. But as usual here at InsureChance, we recommend that you shop around with all the top companies to ensure you’re getting the best deal. After all there are so many wonderful companies ready to compete for your business, so why not use that to your advantage. If you haven’t figured it out by now, we are actually a life insurance marketplace that will allow you to get all this done. So feel free to check out one of our quoters or call us at 888.492.1967!