Securian Financial Life Insurance Review 2024 (2025)

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Securian Financial is a financially stable and reputable company. Diverse life insurance policies to match consumer needs have come to the forefront when discussing Securian. It also caters to the first-time life insurance buyer.

Business Insider has compared Securian Life Insurance against over 30 other providers to find the best life insurance companies.

Securian Financial Life Insurance

Securian Financial offers term, whole, and several universal life policies. So consumers looking for temporary coverage with higher payouts for lower premiums are just as likely to find a policy as consumers who want a more permanent policy. Insider recommends shopping around and consulting qualified life insurance agents before committing to any policy.

Securian Financial's website offers limited information and tools for prospective customers. Additionally, customer service may be an issue, as indicated by its online customer reviews. At the time of this review, the most common complaints revolved around lengthy claims processing times.

Securian Financial Life Insurance Cost

Securian Financial doesn't have an online quoting tool. We recommend speaking to a Securian Financial representative if you're interested in getting a policy estimate.

However, the average life insurance rate for 35-year-old males (with a standard 20-year term length and a life insurance benefit of $500,000) is about $30 per month. A term life policy for qualified 35-year-old females costs about $26 per month. To get competitive pricing, shop around and compare your Securian Financial quote against the industry average and its competitors.

How to File a Claim With Securian Financial

You can file a claim with Securian Financial through its benefit service center, phone, fax, or email.

Securian Financial claim's support:

Phone: 1-800-328-9442

Fax: 1-877-494-8401

Mailing Address:

PO Box 64114

St. Paul, MN 55164-0114

Ideal Customers for Securian Financial

Older shoppers may find Securian Financial's riders appealing. Of course, nobody likes to think about accidents, terminal illnesses, etc. But unfortunately, as we age, the likelihood of these life events quickly becomes more of a concern in our everyday lives. But Securian Financial's SecureCare III is one way to put your mind at ease.

Of course, Securian Financial policies are subject to underwriting restrictions, including age. So ironically, the buyers who see the greatest need for life insurance commonly struggle to find life insurance policies. Securian Financial is no exception to this. We recommend buying early. You might be surprised at how affordable premiums can be for buyers in their 20s or 30s.

SecureCare III combines your whole life policy with long-term care and chronic illness coverage. The policy also comes with a return of premiums and reduced paid-up benefits. So, qualifying seniors may find peace of mind and security with Securian Financial.

Securian Financial Life Insurance Plans

The type of policy available is one of many factors to consider. So what should you expect from policies with Securian Financial?

Securian Financial Term Life

Like many life insurance providers, Securian Financial offers affordable term life insurance with the option to convert to a permanent life insurance policy. You can choose between 10, 20, or 30 years of coverage. Unfortunately, Securian Financial doesn't disclose its term life policies' minimum and maximum death benefits. So you'll have to speak to a Securian Financial insurance agent for this information.

If you're considering converting a term policy, talk to an agent at the time of purchase. Make sure you know when you'd need to apply and any underwriting restrictions that might prevent you from converting to a permanent life policy. Unfortunately, life insurance conversion is not guaranteed.

Securian FinancialWhole Life

Securian Financial sells whole life policies providing lifelong coverage with stable premiums. You also get fixed interest rates for cash value growth. However, its cash value growth opportunities may be limited. The same coverage will cost you more than a term life policy, but it doesn't expire.

More importantly, buying a whole life policy while young will be much cheaper than converting when you're older, possibly with more health issues. Securian Financial's website stresses the stability and predictability for qualified buyers.

Securian FinancialUniversal Life

With Securian Financial's universal life insurance, you get lifetime protection with the option of flexible or fixed premiums. The insurance company also offers adjustable death benefit amounts and access to tax-advantaged cash value withdrawals for life's unexpected expenses. A whole life policy provides permanent coverage with a fixed death benefit. A universal life policy continues to grow as long as the buyer makes payments. Securian Financial offers a few universal policies.

• Fixed universal life - This lifelong policy offers flexible premiums and fixed interest on cash value growth. This more conservative approach may limit growth. But its fixed gains are also more predictable for more traditional buyers.
• Indexed universal life - This permanent policy offers flexible premiums and fixed interest on cash value growth based on systems like the S&P 500. You can also upgrade your policy to include another person.
• Variable universal life - This universal life policy includes flexible premiums and fixed interest on cash value growth. However, you have more comprehensive investment options than the other universal life policies. The variable plan offers the most significant potential for tax-deferred cash value growth. This plan is most popular among younger buyers, given the higher risk profile.

Additional coverage options from Securian Financial

• Hybrid life/long-term care - If you become chronically ill, this rider provides coverage for long-term care expenses. It comes with fixed premiums, additional benefits, a death benefit, and a return of premiums. In short, it helps qualified buyers prepare for the worst with reliable life insurance. Buyers should consult a licensed insurance agent to understand the terms of use before buying.
• Accelerated death benefit or chronic illness rider - If you become chronically ill, you can use your death benefit to pay for long-term care, living expenses, etc. Generally, this rider kicks in when policyholders only have a short time to live.
• SecureCare III - This is a rider offered by Securian Financial. The site lists benefits, including flexibility, freedom, and simplicity. It combines long-term care and chronic illness coverage to make the process more straightforward in case of a severe accident or illness. It also comes with a return of premiums and reduced paid-up benefits. The primary appeal is its stated lack of restrictions. The execution, according to customer reviews, can be complicated.

Securian Financial also offers additional insurance options for accident and injury-related events.

FAQs

Compare Securian Financial

We used JD Power's most recent life insurance study to evaluate the quality of a company's customer service. Through this study, JD Power collected data from over 3,000 life insurance customers and ranked each company based on communication, interaction, price, product offering, and statement satisfaction. The average company received 774 points, so if a company gets anything above 774 points, it generally provides top-notch customer service.

We then used the National Association of Insurance Commissioners (NAIC) complaint index to determine how many complaints a company receives on average. The average industry score is 1.00. So, if a company scores above 1.00, it has more complaints than its competitors.

We sourced two metrics to determine a company's reliability. The first tool is AM Best, an industry-leading credit rating company. The site uses balance sheets, taxes, sales, and other financial data to determine a company's financial strength. AM Best will rank a company from A++ (Superior) to F (not financially stable).

Securian Financial vs. Lincoln Financial Life Insurance

Lincoln Financial takes the win for excellent customer service and reliability. Plus, it offers competitive rates for recreational marijuana users and those with minor pre-existing conditions.

Securian Financial scored 754 out of 1,000 on the most recent study. Lincoln Financial received 764 points. Reports indicate Lincoln Financial generally provides reliable customer service. However, the NAIC reports an index score of 12.09 for Securian Financial, indicating potentially severe customer satisfaction issues. Lincoln Financial, in step with its JD Power rankings, scores just 0.30 with the NAIC.

Securian Financial scored A+ (Superior) for financial strength. Lincoln Financial scored an A (Excellent). So both companies are likely to be around for the foreseeable future. But Securian Financial's books may be a bit stronger.

Lincoln Financial Life Insurance Review

Securian Financial vs. New York Life Insurance

New York Life offers superior customer service and a wider variety of term, whole, and universal life insurance options than Securian Financial. New York Life also has some of the lowest complaint index scores, meaning it received more infrequent complaints than its competitors. In addition, it offers extensive agent training as the company caters to customers looking for more comprehensive plans for retirement, financial planning, and more. Securian focuses on more traditional life insurance benefits.

Again, Securian Financial scored 754 out of 1,000 with JD Power. Furthermore, it has conflicting scores, with the NAIC reporting a complaints index of 12.09. On the other hand, New York Life earned 775 points, above the industry average, and its NAIC complaint index score is predictably low at 0.20.

Securian Financial received an A+ (Superior) from AM Best. New York Life scored an A+ (Superior) for financial stability. Both companies have a solid foundation to continue servicing clients for the foreseeable future. So as you pay your monthly premiums, you can do so with the assurance the companies will be around to pay your claims as needed.

New York Life Insurance Review

Securian Financial vs. MassMutual Life Insurance

MassMutual is the superior option when it comes to life insurance. MassMutual offers many permanent life insurance options and has an excellent track record for customer service and financial stability. In addition, it has options for death benefits, long-term investments, and financial planning. However, you may find MassMutual pricier than its competitors, especially for seniors and smokers.

MassMutual ranked 780 out of 1,000 on JD Power's most recent life insurance study, above the industry average. Its NAIC complaints index is just 0.03. Securian Financial earned a 754 out of 1,000. But its NAIC complaints index of 12.09 is far greater than the industry average.

Securian Financial received an A+(Superior) for financial strength. Meanwhile, MassMutual scored an A++ (Superior) with AM Best. Both companies are extremely financially stable, but MassMutual has a slight edge.

MassMutual Life Insurance Review

Why You Should Trust Us: How We Reviewed Securian Financial Life Insurance

We rate all types of insurance on customer satisfaction, financial stability, state coverage, and ethics. For life insurance, we also look at policy types, average premiums, waiting periods, standard exclusions, and agent training.

We consider many factors when reviewing the quality of a company. You can read more about our life insurance rating methodology.