Securian Life Insurance Review 2025
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Securian Financial
on Nerdwallet
Financial strength rating
Online purchase
NAIC complaints
Policies offered
on Nerdwallet
Securian Financial
Financial strength rating
Online purchase
NAIC complaints
Policies offered
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About Securian Financial life insurance
Securian Financial earned 4 stars out of 5 for overall performance. Securian Financial and its subsidiary Minnesota Life Insurance Company provide term and various types of universal life insurance. However, you can’t buy them online or find much information about them on the company’s website. Securian Financial also sells other products, such as annuities, credit insurance, and a hybrid policy offering both long-term care and life insurance.
Founded in 1880, the insurer was known as Minnesota Mutual Life Insurance Company for about a century before adopting the Securian brand. The company has more than $1 trillion in life insurance policies in force.
Wide selection of insurance and financial products.
Fewer complaints than expected for a company of its size.
Offers a hybrid life/long-term care insurance policy.
Limited information on its consumer website about its life insurance products.
» MORE: Compare life insurance quotes
Securian Financial life insurance policies
Term life insurance. Securian offers a selection of term life insurance policies lasting 10, 20 or 30 years, and most policies can be converted to permanent coverage at a later date. Coverage amounts for the Advantage Elite Select Term policy start at $250,000. Some applicants may be eligible to get this coverage without a life insurance medical exam.
Universal life insurance. The company offers three main types of universal life insurance, all of which offer a cash value component that grows tax-deferred.
Fixed universal life: The cash-value growth is tied to a fixed interest rate, making it less risky than its other universal policies.
Indexed universal life: The cash-value growth is tied to the performance of an index, such as the S&P 500. Indexed universal life insurance offers the potential for greater returns than fixed universal life, but is less risky than variable universal life. There is also a survivorship option, which insures two lives, typically a couple. The death benefit is paid out after both individuals die. Learn more about joint life insurance.
Variable universal life: The cash-value growth is tied to investments chosen by the policyholder. Variable universal life insurance offers potential returns if the investments perform well, but also the chance of losing cash value if the underlying investments perform poorly.
Whole life insurance with long-term care. The company offers a hybrid life insurance and long-term care policy, which pays out a separate benefit to help pay for long-term care expenses like a nursing home. Coverage amounts range from $50,000 to $500,000, and you can pay your premiums upfront or over a period of up to 15 years. The policy is available to applicants between 40 and 75 years of age.
AD&D insurance. Securian Financial also sells accidental death and dismemberment insurance, a type of life insurance that pays out if you die or suffer certain injuries in an accident.
Securian life insurance riders
Depending on your policy, you may be able to customize your coverage with one or more of these life insurance riders:
Accelerated death benefit. Lets you tap into the policy’s payout before you die if you have a terminal or chronic illness.
Extended conversion agreement. Gives you the option to convert a term policy into permanent coverage for the duration of your policy term.
Waiver of premium. Waives your premiums if you’re too disabled to work.
No lapse guarantee. Prevents your variable universal policy from lapsing as long as you keep paying the premiums, even if your investments underperform.
Guaranteed insurability. Allows you to increase your coverage without going through the life insurance underwriting process again.
Inflation agreement. Boosts the face amount of your policy every three years to help keep up with inflation.
Securian Financial customer complaints and satisfaction
Over three years, Securian Financial has drawn fewer complaints to state regulators than expected for a company of its size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners.
» MORE: Best life insurance companies
Securian Financial life insurance rates
Below are monthly rates for a 20-year, $500,000 term life insurance policy from Securian Financial. These are sample rates for a nonsmoking man and woman in excellent health — the final quote you’re offered will depend on factors like your age, health, lifestyle, occupation and driving record.
Age | Monthly rate - man | Monthly rate - woman |
|---|---|---|
20 | $20.77 | $17.71 |
30 | $21.23 | $17.50 |
40 | $29.53 | $25.42 |
50 | $82.50 | $58.75 |
60 | $222.92 | $145 |
Source: Direct from insurer. Rates reflect the super preferred class and were generated on 10/28/24. | ||
How Securian compares to other insurers
Securian | Midland National | Mutual of Omaha | |
|---|---|---|---|
Star rating | |||
Financial strength | Exceptional. | Exceptional. | Exceptional. |
NAIC complaints | Fewer than expected. | Fewer than expected. | Close to the expected number. |
J.D. Power ranking | N/A. | #13 out of 21. | #6 out of 21. |
Policy types offered | Term & permanent. | Term & permanent. | Term, permanent & no-exam. |
Read full reviews |
More about Securian Financial
The Securian Financial website offers life insurance educational content and free tools to determine how much coverage you need, plus the ability to make a payment or view your policy.
Securian Financial offers other financial products in addition to life insurance:
Accident insurance.
Hospital indemnity insurance.
Annuities.
Credit protection insurance.
How to contact Securian
Securian can be reached by:
Phone: Call 833-810-8260 Monday through Thursday from 7:30 a.m. to 5:30 p.m. CT and Fridays from 7:30 a.m. to 4:30 p.m. CT.
Email: Fill out the form on Securian’s contact page.
Live chat: Not available.
Life insurance buying guide
Before you start comparing companies, choose the type of life insurance you want, such as term or whole life. Decide which life insurance riders, if any, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you’re considering offer the coverage you’re looking for.
When comparing rates, be sure the quotes are for the same amount of coverage over the same period of time. It’s also important to make sure the policy’s medical requirements match your needs. For example, if you want to skip the life insurance medical exam but don’t mind answering health questions, confirm that the application process for each policy you're comparing aligns with that.
Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.
For more guidance, see our life insurance buying guide.
Methodology
Life insurance ratings methodology
NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2021-2023. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.
