Securian Life Insurance Company: An Overview

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Securian Life Insurance Company is one of the leading life insurance providers in the United States. Founded in 1880, it has over 140 years of experience in the industry and provides a wide range of insurance and financial products to its customers. In this article, we will take a closer look at the company, its history, products, and services, as well as its reputation in the industry.

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History

Securian Life Insurance Company was originally known as the Bankers Security Life Insurance Company and was founded in St. Paul, Minnesota in 1880. Its founder, Russell Dorr, saw a need for a local life insurance company that could provide affordable and accessible insurance to the people of Minnesota. The company quickly grew in popularity and expanded its operations to other states.

In 1905, the company’s name was changed to Minnesota Mutual Life Insurance Company and in 1985, it was renamed again to Securian Financial Group, Inc. to reflect its expansion into other financial services such as asset management and retirement planning. Today, Securian is a Fortune 500 company with over $1 trillion of insurance in force and assets under management.

Products and Services

Securian Life Insurance Company offers a variety of insurance and financial products to its customers. Its life insurance products include term life, universal life, and whole life insurance. These policies provide coverage for a specified period of time or for the lifetime of the insured, respectively.

Securian also offers disability income insurance, which provides income replacement for individuals who are unable to work due to injury or illness. Its long-term care insurance provides coverage for the cost of long-term care in a nursing home or assisted living facility. Additionally, Securian offers annuities, which provide a guaranteed income stream for retirement.

Life Insurance

Securian’s life insurance policies offer flexible coverage options to meet the needs of its customers. Its term life insurance provides coverage for a specific period of time and is ideal for individuals who want affordable coverage for a set period. Term life insurance policies can be purchased for terms ranging from 1 to 30 years.

Universal life insurance provides coverage for the lifetime of the insured and offers flexible premiums and death benefits. These policies also have a cash value component that can be used to supplement retirement income or pay premiums.

Whole life insurance provides lifetime coverage and offers guaranteed premiums and death benefits. These policies also have a cash value component that grows over time.

Disability Income Insurance

Securian’s disability income insurance provides income replacement for individuals who are unable to work due to injury or illness. These policies can be customized to meet the specific needs of the insured, including the amount of coverage and the waiting period before benefits are paid.

Long-Term Care Insurance

Long-term care insurance provides coverage for the cost of long-term care in a nursing home or assisted living facility. Securian’s long-term care policies offer flexible coverage options and can help protect the insured’s assets from the cost of long-term care.

Annuities

Securian offers annuities, which provide a guaranteed income stream for retirement. Its fixed annuities provide a guaranteed interest rate and a fixed income stream, while its variable annuities offer flexibility and the potential for higher returns.

Reputation

Securian Life Insurance Company has a strong reputation in the industry for its financial strength and stability. It has received high ratings from rating agencies such as Moody’s and A.M. Best for its financial strength and claims-paying ability.

Additionally, Securian has been recognized for its customer service and commitment to diversity and inclusion. It has received awards such as the Military Friendly® Employer and the Working Mother 100 Best Companies for its efforts to support and value its employees.

FAQ

Question
Answer
What is Securian Life Insurance Company?
Securian Life Insurance Company is one of the leading life insurance providers in the United States. It offers a wide range of insurance and financial products to its customers.
What types of life insurance does Securian offer?
Securian offers term life, universal life, and whole life insurance.
What is disability income insurance?
Disability income insurance provides income replacement for individuals who are unable to work due to injury or illness.
What is long-term care insurance?
Long-term care insurance provides coverage for the cost of long-term care in a nursing home or assisted living facility.
What are annuities?
Annuities provide a guaranteed income stream for retirement.

Conclusion

Securian Life Insurance Company is a reputable and established provider of life insurance and financial products. Its long history in the industry, financial strength, and commitment to customer service have earned it a strong reputation in the industry. Whether you are looking for life insurance, disability income insurance, long-term care insurance, or annuities, Securian has products to meet your needs.

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