In an ever-changing world, the need for financial security has become paramount. As individuals and families strive to protect their future, insurance companies play a vital role in providing peace of mind and safeguarding against unforeseen risks. Among these companies, Securian Financial stands out as a trusted and reliable institution. With a rich history and a commitment to excellence, Securian Financial has been a pillar of strength for generations.
In this review, we delve into the company’s remarkable journey, its unwavering financial stability, comprehensive policy and coverage options, exceptional customer service and claims processing, and its well-earned reputation for trustworthiness. Join us as we explore the foundations of Securian Financial and discover why it continues to be a leader in the insurance industry.
History of Securian Financial
Securian Financial, formerly known as Minnesota Mutual Life Insurance Company, has a rich and storied history that dates back over 140 years. The company was founded in 1880 in St. Paul, Minnesota, with a mission to provide financial security and peace of mind to its policyholders. From its humble beginnings, Securian Financial has grown into a leading provider of insurance, investment, and retirement solutions.
Throughout its history, Securian Financial has achieved significant milestones and undergone key developments that have shaped its trajectory. In 1906, the company expanded its operations beyond Minnesota and began offering its products and services on a national scale. This marked a pivotal moment in its growth and laid the foundation for future success.
Over the years, Securian Financial has demonstrated its adaptability and commitment to innovation. In the 1960s, it introduced group life insurance products, catering to the evolving needs of businesses and organizations. The company continued to diversify its offerings, expanding into health insurance, annuities, and investment solutions to provide comprehensive financial protection to its policyholders.
The late 1990s saw another significant milestone for Securian Financial. It acquired Allied Solutions, a leading provider of insurance and lending solutions, enabling the company to expand its reach and enhance its capabilities in serving financial institutions. This strategic acquisition further solidified Securian Financial’s position as a trusted partner for both individuals and organizations.
As the company embraced the digital age, it leveraged technology to streamline its operations and enhance customer experiences. Securian Financial invested in cutting-edge tools and digital platforms, enabling policyholders to easily access their accounts, manage their policies, and receive personalized support.
Driven by its commitment to providing financial security for future generations, Securian Financial has experienced steady growth and expansion. Today, it serves millions of individuals, families, and businesses across the United States. With its strong foundation, forward-thinking approach, and dedication to its customers, Securian Financial continues to build upon its remarkable history and shape the future of the insurance industry.
Financial Strength and Stability
Securian Financial has consistently demonstrated impressive financial strength and stability, positioning itself as a reliable and trustworthy institution in the insurance industry. The company’s financial performance has been commendable, with robust growth and solid financial metrics.
In terms of revenue, Securian Financial has consistently reported strong earnings over the years. Its revenue growth has been driven by a combination of organic growth, strategic acquisitions, and a diversified product portfolio. The company’s ability to generate substantial revenue is a testament to its successful business operations and its ability to meet the evolving needs of its customers.
Securian Financial boasts substantial assets under management, reflecting its strong position in the market. Its prudent investment strategies have contributed to the growth of its asset base, enabling the company to fulfill its financial obligations to policyholders.
Profitability is another key indicator of Securian Financial’s financial strength. The company has maintained a solid track record of profitability, generating consistent returns on its investments and operations. This profitability is a reflection of effective risk management practices and the ability to navigate market fluctuations.
Credit ratings and industry rankings further affirm Securian Financial’s financial strength and stability. Independent rating agencies, such as Standard & Poor’s, Moody’s, and A.M. Best, have consistently awarded the company high ratings, reflecting its strong financial position and ability to meet its obligations. These ratings provide assurance to policyholders and investors regarding the company’s financial stability and its commitment to fulfilling its promises.
When compared to industry peers and competitors, Securian Financial stands out as a top performer. Its financial metrics, such as revenue, assets, and profitability, often surpass industry averages, highlighting its competitive advantage and its ability to thrive in a dynamic market.
Policy and Coverage Options
Securian Financial is a financial services company that offers a variety of life insurance policies, including term life insurance, whole life insurance, and universal life insurance.
Term life insurance
Term life insurance provides coverage for a specific period of time, typically 10, 20, or 30 years. If the insured person dies during the term of the policy, the beneficiary will receive a death benefit. Term life insurance is a good option for people who need coverage for a specific period of time, such as during the child-rearing years or while paying off a mortgage.
Whole life insurance
Whole life insurance provides lifelong coverage. The policy builds cash value over time, which can be borrowed against or used to pay the premiums. Whole life insurance is a good option for people who want lifelong coverage and the ability to build cash value.
Universal life insurance
Universal life insurance is a type of permanent life insurance that provides flexibility in terms of premiums and death benefits. The policy builds cash value over time, which can be used to pay the premiums or to increase the death benefit. Universal life insurance is a good option for people who want the flexibility of a term life insurance policy with the cash value of a whole life insurance policy.
Additional coverage options and riders
Securian Financial offers a variety of additional coverage options and riders that can be added to a life insurance policy. These options include accidental death and dismemberment coverage, critical illness coverage, and long-term care coverage.
- Accidental death and dismemberment (AD&D) coverage
Accidental death and dismemberment coverage provides a death benefit if the insured person dies as a result of an accident. The policy may also provide a benefit if the insured person loses a limb or suffers other serious injuries in an accident.
- Critical illness coverage
Critical illness coverage provides a lump-sum payment if the insured person is diagnosed with a critical illness, such as cancer, heart attack, or stroke. The money can be used to cover medical expenses, lost income, or other costs.
- Long-term care coverage
Long-term care coverage provides a daily or monthly benefit to help pay for long-term care expenses, such as nursing home care or assisted living. The policy can help to protect the insured person’s assets and income from the high cost of long-term care.
Here are some of the specific policy and coverage options offered by Securian Financial:
Term life insurance
- Securian Select Term: This term life insurance policy offers guaranteed level premiums for 10, 15, 20, and 30 years. Coverage can be renewed after the level premium period until age 95. Premiums after the level premium period will increase annually.
- Children’s Term Insurance: This term life insurance policy is designed to provide coverage for children. The policy can be converted to a permanent life insurance policy at any time.
Whole life insurance
- Securian 100% Whole Life: This whole life insurance policy builds cash value over time. The policy offers a guaranteed death benefit and a guaranteed minimum interest rate.
- Securian Guaranteed Return of Premium Whole Life: This whole life insurance policy builds cash value over time. The policy offers a guaranteed death benefit and a guaranteed return of premium.
- Securian Legacy Whole Life: This whole life insurance policy builds cash value over time. The policy offers a guaranteed death benefit, a guaranteed minimum interest rate, and a guaranteed return of premium.
Universal life insurance
- Advantage Universal: This universal life insurance policy offers flexibility in terms of premiums and death benefits. The policy builds cash value over time, which can be used to pay the premiums or to increase the death benefit.
- Select Universal: This universal life insurance policy offers flexibility in terms of premiums and death benefits. The policy builds cash value over time, which can be used to pay the premiums or to increase the death benefit.
- Choice Universal: This universal life insurance policy offers flexibility in terms of premiums and death benefits. The policy builds cash value over time, which can be used to pay the premiums or to increase the death benefit.
Additional coverage options and riders
- Accidental death and dismemberment (AD&D) rider: This rider provides additional death benefits if the insured person dies as a result of an accident.
- Critical illness rider: This rider provides a lump-sum payment if the insured person is diagnosed with a critical illness.
- Long-term care rider: This rider provides a daily or monthly benefit to help pay for long-term care expenses.
Customer Service and Claims Processing
Securian Financial has built a strong reputation for its exceptional customer service, placing a high emphasis on delivering a positive experience to its policyholders. The company’s commitment to customer satisfaction has garnered praise and solidified its standing as a trusted insurance provider.
When it comes to customer service, Securian Financial has consistently received positive feedback and reviews from its policyholders. Customer satisfaction ratings indicate a high level of contentment with the company’s services, demonstrating its dedication to meeting the needs and expectations of its customers.
The claims process, a critical aspect of insurance, is handled efficiently by Securian Financial. The company strives to simplify and expedite the claims filing and processing procedures, minimizing any potential stress or inconvenience for its policyholders during challenging times. Through streamlined workflows and advanced technology, Securian Financial aims to ensure a smooth and prompt claims experience.
Securian Financial offers various customer support channels to enhance accessibility and convenience. Policyholders have access to knowledgeable and responsive customer service representatives who are readily available to address inquiries, provide guidance, and assist with policy-related matters. These support channels may include phone support, email communication, online chat, and a dedicated customer portal.
Furthermore, Securian Financial recognizes the importance of accessibility in today’s digital era. The company has invested in user-friendly online platforms and mobile applications that enable policyholders to manage their policies, make payments, and access important documents with ease. These digital tools contribute to a seamless customer experience and empower policyholders to take control of their insurance needs.
Reputation and Trustworthiness
Securian Financial has established a strong reputation in the insurance industry, earning the trust and confidence of both customers and industry professionals. The company’s longstanding presence and consistent delivery of quality products and services have contributed to its positive reputation.
Securian Financial is recognized for its commitment to ethical business practices. The company places a strong emphasis on integrity, transparency, and accountability in its operations. It upholds the highest standards of ethical conduct, ensuring that policyholders’ interests are prioritized and protected. This commitment to ethical business practices fosters trust among customers and stakeholders alike.
Regulatory compliance and consumer protection are paramount to Securian Financial. The company strictly adheres to applicable laws and regulations governing the insurance industry, ensuring that it operates in a compliant and responsible manner. Additionally, Securian Financial prioritizes consumer protection by implementing robust security measures to safeguard policyholder data and personal information.
Securian Financial’s reputation is further bolstered by its industry affiliations and recognition. The company actively engages with professional organizations and industry associations, demonstrating its commitment to staying informed and up-to-date with industry trends and best practices. Securian Financial’s involvement in these affiliations showcases its dedication to continuous improvement and its desire to provide the best possible products and services to its customers.
Awards and recognition received by Securian Financial also contribute to its reputation and trustworthiness. The company has been honored with prestigious industry awards that recognize its excellence in areas such as customer service, product innovation, and financial performance. These accolades serve as external validations of Securian Financial’s commitment to delivering exceptional value to its policyholders.
Securian Financial has emerged as a leading insurance provider with a rich history, unwavering financial strength, comprehensive policy options, exceptional customer service, and a well-earned reputation for trustworthiness. Through its long-standing presence in the industry, the company has demonstrated its ability to adapt, innovate, and deliver on its promises.
Securian Financial’s commitment to ethical business practices, regulatory compliance, and customer-centricity sets it apart, providing policyholders with the peace of mind they seek when it comes to their financial security. As it continues to evolve and serve the needs of generations to come, Securian Financial remains dedicated to its mission of providing financial security and serving as a reliable partner in safeguarding the futures of its customers.