Choosing a life insurance company means entrusting them with your family’s financial future—a decision that requires careful evaluation of financial strength, product quality, and customer service standards. With this in mind, it’s reassuring that Securian Life Insurance Company (formerly Minnesota Life) brings 140 years of experience to this responsibility, but recent customer satisfaction trends and product limitations deserve honest examination alongside their undeniable financial stability.
Written by: The Insurance Brokers USA Team consists of licensed insurance professionals with extensive experience helping clients with complex health conditions find appropriate coverage. Our agents have worked with thousands of clients, and specialize in matching clients with carriers that best serve their specific coverage needs and financial situations.
What Is Securian Life Insurance Company’s Background and History?
Bottom Line
The rebranding to Securian Financial represents a marketing change only—existing policyholders retain identical coverage terms, and the company’s financial ratings and operational structure remain unchanged.
Current Operations and Market Presence
Securian operates through an extensive distribution network of more than 7,000 independent agents and thousands of brokers nationwide. This broad reach enables the company to serve diverse markets while maintaining local relationships that larger direct-to-consumer insurers often lack.
The company’s business model extends beyond individual life insurance to include employee benefits, retirement plan administration, and wealth management services. This diversification provides revenue stability and reduces dependence on any single product line.
“Securian’s transition from Minnesota Life reflects broader industry trends toward national branding, but their commitment to community involvement and local agent relationships distinguishes them from purely corporate-focused competitors.”
– Insurance Industry Analyst
The company emphasizes community involvement through the Securian Financial Foundation, focusing on vibrant communities, financial stability, and youth education initiatives. While this community engagement doesn’t directly impact policy performance, it reflects corporate values that many consumers find appealing.
How Financially Stable Is Securian Life Insurance?
Key insight: Securian maintains exceptionally strong financial ratings across all major rating agencies, placing it among the most financially secure life insurance companies in the United States.
Securian Financial Strength Ratings (2025)
| Rating Agency | Current Rating | Rating Meaning |
|---|---|---|
| A.M. Best | A+ (Superior) | Strong financial security characteristics |
| Standard & Poor’s | AA- (Very Strong) | Very strong capacity to meet obligations |
| Moody’s | Aa3 (High Quality) | High quality with very low credit risk |
| Fitch | AA (Very High Quality) | Very high credit quality |
| Comdex Score | 96 out of 100 | Top 4% of all rated insurers |
The Comdex score of 96 represents an average of ratings from multiple agencies, placing Securian in the top tier of U.S. life insurers. This score indicates that 96% of the rated insurance companies receive lower financial strength ratings than Securian.
Financial Performance Metrics
According to Securian’s most recent financial disclosures:
- Annual Revenue: $6.6 billion, demonstrating substantial business volume
- Operating Earnings: $331 million, showing profitable operations
- Assets Under Management: $93.4 billion, representing nearly 20% year-over-year growth
- Life Insurance in Force: Over $1 trillion across 20+ million customers
Bottom Line
Securian’s financial strength ratings and performance metrics indicate minimal risk of policy non-payment, making it a financially secure choice for long-term life insurance protection.
The company’s strong capital position and diversified revenue streams provide stability during economic uncertainty. However, financial strength alone doesn’t guarantee superior customer service or competitive pricing, both of which are equally important factors in carrier selection.
Key Takeaways
- Securian ranks among the most financially stable life insurers in America
- 140+ years of continuous operation demonstrate institutional resilience
- Strong growth in assets under management indicates business expansion
- Financial stability should be balanced against customer service and pricing considerations
What Do Customers Say About Securian’s Service Quality?
Key insight: While Securian maintains strong financial ratings, recent customer satisfaction scores reveal concerning trends in service quality that potential policyholders should carefully consider.
Customer service quality often proves more important than financial strength for daily policy management experiences. Securian’s recent performance in this area presents a mixed picture that differs significantly from their financial excellence.
Better Business Bureau (BBB) Performance
Securian has held BBB accreditation since 1996, demonstrating a long-term commitment to customer service standards. However, current performance shows some concerning trends:
- Current BBB Rating: “B” grade, indicating reasonable but not exceptional responsiveness
- Consumer Review Score: 1 out of 5 stars based on customer feedback
- Review Volume: Limited sample size of 19 reviews reduces statistical significance
Service Quality Concern
The dramatic difference between Securian’s financial ratings (top 4% of insurers) and customer satisfaction scores (1 out of 5 stars) suggests potential disconnects between corporate financial management and customer-facing operations.
J.D. Power Customer Satisfaction Rankings
J.D. Power’s comprehensive life insurance studies provide industry-standard customer satisfaction measurements. Securian’s recent performance includes:
J.D. Power Life Insurance Study Rankings
| Study Year | Ranking | Total Companies | Performance Category |
|---|---|---|---|
| 2020 | 16 out of 23 | 23 major carriers | “The Rest” (below average) |
| 2019 | 18 out of 23 | 23 major carriers | “The Rest” (below average) |
While Securian showed improvement from 2019 to 2020, ranking 16th out of 23 still places them in the bottom third of major life insurance companies for customer satisfaction.
Securian’s customer service challenges often stem from its heavy reliance on independent agents rather than a direct customer service infrastructure. This can create communication gaps between policyholders and the company during claims or service requests.
– Customer Service Industry Expert
National Association of Insurance Commissioners (NAIC) Data
Providing a more balanced perspective, NAIC complaint data show that Securian receives fewer complaints relative to its market size compared to industry averages. This suggests that while customer satisfaction scores are concerning, serious regulatory issues remain limited.
The discrepancy between NAIC complaint data and customer satisfaction scores may indicate that while Securian handles serious issues appropriately, day-to-day service experiences frustrate customers even when they don’t rise to formal complaint levels.
What Types of Life Insurance Does Securian Offer?
Key insight: Securian provides comprehensive life insurance options across all major product categories, with particular strength in no-exam life insurance and universal life variations that appeal to diverse customer needs.
Securian’s product portfolio encompasses the complete spectrum of life insurance solutions, from basic term coverage to sophisticated universal life policies with investment features. This breadth enables the company to serve customers from young families seeking affordable protection to affluent individuals requiring complex estate planning solutions.
Term Life Insurance Options
Securian’s term life insurance provides foundational protection for families and individuals seeking maximum coverage at minimal cost during specific periods.
Level Term Policies: Available in 10, 15, 20, and 30-year terms with guaranteed level premiums throughout the initial period. These policies include conversion options allowing policyholders to switch to permanent coverage without medical underwriting.
Annual Renewable Term (ART): One-year renewable policies extending up to 10 years, with premiums increasing annually based on attained age. While more expensive long-term, ART policies provide flexibility for temporary coverage needs.
Bottom Line
Securian’s term life insurance products offer standard industry features with competitive conversion options, though pricing may not be the most aggressive in today’s market.
Whole Life Insurance Features
Securian’s whole life insurance maintains traditional mutual company characteristics despite the corporate structure change, providing guaranteed cash value growth and lifetime coverage certainty.
Key features include:
- Guaranteed lifetime coverage: Policies remain in force as long as premiums are paid
- Fixed premium structure: Premiums never increase regardless of age or health changes
- Cash value accumulation: Policies build guaranteed cash value at fixed interest rates
- Flexible premium payment periods: Options from 10 years to age 120, balancing affordability with pay-up speed
“Securian’s whole life products work well for clients seeking guaranteed outcomes and traditional insurance company stability. However, their dividend rates typically lag behind true mutual companies like Northwestern Mutual or MassMutual.”
– IBUSA Estate Planning Specialist
Universal Life Insurance Variations
Securian offers multiple universal life insurance types, each designed for different risk tolerances and growth objectives:
Fixed Universal Life: Conservative option with guaranteed minimum interest rates and predictable cash value growth, suitable for risk-averse customers seeking permanent coverage flexibility.
- Indexed Universal Life: Links cash value growth to equity index performance while protecting against market losses through floor guarantees. Securian’s IUL products include caps and participation rates that limit both upside potential and downside risk.
- Variable Universal Life: Provides access to sub-account investment options with the greatest growth potential and the highest risk. Policy owners bear full investment risk, making VUL suitable only for financially sophisticated customers comfortable with market volatility.
- Survivorship Universal Life: Covers two lives with a death benefit payable upon the second death, primarily used for estate planning and wealth transfer strategies.
Securian Universal Life Comparison
| UL Type | Growth Potential | Risk Level | Best For |
|---|---|---|---|
| Fixed UL | Low (2-4% annually) | Very Low | Conservative investors |
| Indexed UL | Moderate (4-8% potential) | Low-Moderate | Balanced growth seekers |
| Variable UL | High (10%+ possible) | High | Sophisticated investors |
| Survivorship UL | Variable by type | Variable by type | Estate planning |
How Does Securian’s No-Exam Life Insurance Work?
Key insight: Securian’s WriteFit program represents one of the more generous no-exam life insurance offerings in the market, providing coverage up to $2 million for qualified applicants without medical examinations or fluid samples.
The WriteFit program addresses growing consumer demand for simplified life insurance application processes while maintaining Securian’s underwriting standards through alternative risk assessment methods.
WriteFit Eligibility and Coverage Limits
- Age Requirements: Available for applicants aged 18-54, covering prime earning years when life insurance needs typically peak and health complications remain relatively uncommon.
- Coverage Amounts: Up to $2,000,000 in death benefit, significantly higher than most no-exam programs that typically cap coverage at $500,000-$1,000,000.
- Product Types: WriteFit applies to both term and permanent life insurance options, providing flexibility for different coverage objectives and budgets.
Bottom Line
WriteFit’s $2 million coverage limit and broad age range make it one of the most generous no-exam programs available, particularly valuable for busy professionals seeking streamlined applications.
Alternative Underwriting Methods
Without traditional medical exams, Securian employs several risk assessment techniques:
- Comprehensive Application Questions: Detailed health and lifestyle questionnaires covering medical history, family health background, and risk factors.
- Prescription Database Checks: Review of medication history through pharmacy databases to identify potential health conditions or prescription drug patterns.
- Medical Information Bureau (MIB) Reports: Access to previous insurance application information and medical findings from other carriers.
- Motor Vehicle Records: Driving history analysis to assess lifestyle risk factors and responsibility patterns.
- Credit Reports: Financial responsibility evaluation, as studies correlate credit management with mortality risk factors.
“WriteFit works best for healthy individuals who want coverage quickly, but it may result in higher premiums compared to traditional underwriting for those willing to complete medical exams.”
– IBUSA Underwriting Specialist
WriteFit Advantages and Limitations
Primary Advantages:
- Rapid approval process, often within days rather than weeks
- No medical exam scheduling or time investment required
- Higher coverage limits than most simplified issue programs
- Available for both term and permanent insurance products
- Ideal for individuals with busy schedules or medical exam anxiety
Important Limitations:
- Potentially higher premiums compared to traditional underwriting
- Stricter health questionnaire requirements may disqualify some applicants
- Limited to younger age groups (18-54)
- May not achieve the best rate classifications available through full underwriting
Key Takeaways
- WriteFit offers exceptional convenience for qualified applicants
- $2 million coverage limit exceeds most no-exam competitors
- Best suited for healthy individuals prioritizing speed over optimal pricing
- Consider traditional underwriting if time permits, and health is excellent
For families seeking immediate coverage while considering long-term options, WriteFit can provide interim protection while evaluating the best no-exam life insurance companies for an optimal combination of convenience and pricing.
What Are Securian’s Main Advantages and Disadvantages?
Key insight: Securian excels in financial stability and product diversity but faces significant challenges in customer service delivery that may impact overall policy ownership experience.
Understanding Securian’s strengths and weaknesses helps potential customers make informed decisions based on their priorities—whether financial security, customer service quality, or specific product features matter most.
Securian Advantages
Exceptional Financial Strength
Comdex score of 96 places Securian among the top 4% of rated insurers, providing exceptional security for long-term policy obligations. The company’s 140-year history demonstrates resilience through multiple economic cycles.
Comprehensive Product Portfolio
Full range of life insurance products from basic term to sophisticated universal life variations meets diverse customer needs without requiring multiple carrier relationships.
Industry-Leading No-Exam Coverage
WriteFit program offers up to $2 million coverage without medical exams, significantly higher than most competitors’ simplified issue programs.
Strong Senior Market Focus
Favorable underwriting guidelines for older applicants make Securian an attractive option for seniors seeking life insurance coverage.
Extensive Distribution Network
Over 7,000 independent agents provide local service and relationship-based support unavailable from direct-to-consumer carriers.
Securian Disadvantages
Below-Average Customer Satisfaction
J.D. Power rankings consistently place Securian in the bottom third of major life insurers, with BBB customer reviews averaging only 1 out of 5 stars.
Pricing Competitiveness Concerns
Premium rates often exceed those of top-tier competitors, particularly for standard health applicants who could qualify for preferred rates elsewhere.
Limited Digital Innovation
Traditional agent-centric model may lag behind carriers investing heavily in digital customer experience and online policy management tools.
Brand Recognition Challenges
Recent rebranding from Minnesota Life to Securian may create consumer confusion about company identity and regional limitations.
Agent Dependency Risk
Heavy reliance on independent agents for customer service can create inconsistent experiences when agents change or become unavailable.
“Securian works best for clients who prioritize financial security and are comfortable working through independent agents rather than expecting extensive direct customer service from the carrier.”
-IBUSA
Bottom Line
Securian’s exceptional financial strength and comprehensive products make it a suitable choice for customers who prioritize long-term security over premium pricing or customer service excellence.
How Does Securian Compare to Other Top Insurers?
Key insight: Securian’s competitive position varies significantly depending on customer priorities, excelling in financial stability while trailing in customer service and pricing competitiveness.
Comparative analysis reveals how Securian stacks up against industry leaders across key performance metrics that matter most to life insurance buyers.
Securian vs. Major Competitors Comparison
| Company | Financial Rating | Customer Satisfaction | No-Exam Limit | Competitive Strength |
|---|---|---|---|---|
| Securian | A+ (Excellent) | Below Average | $2M (WriteFit) | Financial stability |
| Northwestern Mutual | A++ (Superior) | Above Average | $1M | Whole life dividends |
| New York Life | A++ (Superior) | Average | $750K | Brand recognition |
| State Farm | A++ (Superior) | Above Average | $500K | Multi-line discounts |
| Banner Life | A (Good) | Average | $3M | Competitive pricing |
Securian’s Competitive Positioning
Against Mutual Companies (Northwestern Mutual, New York Life): Securian offers competitive financial stability but lacks the dividend performance and brand prestige of true mutual insurers. However, Securian’s products often feature more flexible underwriting and higher no-exam limits.
Against Large Captive Agents (State Farm, Allstate): Securian provides more specialized life insurance focus compared to multi-line insurers, but lacks the convenience and potential discounts available through bundled insurance relationships.
Against Independent Agency Companies (Banner Life, Protective): Securian matches distribution model strengths but often trails in pricing competitiveness while exceeding most competitors in no-exam coverage limits.
“Securian occupies a unique market position with exceptional financial strength and generous no-exam limits, but customer service challenges limit its appeal for service-sensitive buyers.”
– IBUSA Market Analyst
For comprehensive carrier comparisons, including pricing analysis, our guide to the top 10 best life insurance companies provides detailed rankings and recommendations based on different customer priorities and needs.
Key Takeaways
- Securian’s financial strength rivals industry leaders while maintaining competitive positioning
- WriteFit’s $2M no-exam limit exceeds most major competitors
- Customer service performance lags behind mutual companies and service leaders
- Pricing competitiveness varies by product type and customer risk profile
Frequently Asked Questions
Is Securian Life Insurance financially stable?
Direct answer: Yes, extremely stable. Securian maintains A+ ratings from A.M. Best and AA- from S&P, with a Comdex score of 96, placing it among the top 4% of rated insurers. The company has operated continuously for over 140 years with $93.4 billion in assets under management, indicating a minimal risk of policy non-payment.
What is WriteFit, and how much coverage can I get without an exam?
Direct answer: WriteFit is Securian’s no-exam life insurance program offering up to $2 million in coverage for applicants aged 18-54 without medical exams or fluid samples. This limit significantly exceeds most competitors’ no-exam programs, making it attractive for busy professionals seeking substantial coverage quickly.
Why did Minnesota Life change to Securian Financial?
Direct answer: The 2018 rebranding aligned the company name with its parent company, Securian Financial Group, and eliminated geographic confusion caused by the “Minnesota Life” name. This was purely a marketing change—policies, financial ratings, and company operations remained identical.
How does Securian’s customer service compare to other insurers?
Direct answer: Below industry average. Securian ranks 16th out of 23 major carriers in J.D. Power’s customer satisfaction studies and receives only 1 out of 5 stars from BBB customer reviews. While financially strong, the company struggles to deliver customer service on par with industry leaders.
What types of life insurance does Securian offer?
Direct answer: Comprehensive portfolio including term life (10-30 year terms), whole life, and multiple universal life variations (fixed, indexed, variable, survivorship). They also offer annuities, accidental death coverage, and employee benefits, providing complete life insurance and retirement planning solutions.
Is Securian good for seniors seeking life insurance?
Direct answer: Yes, Securian has favorable underwriting guidelines for older applicants, making it easier for seniors to qualify for coverage compared to some competitors. However, customer service concerns and pricing competitiveness should be evaluated against alternatives specializing in senior coverage.
How competitive are Securian’s life insurance rates?
Direct answer: Generally above average in pricing, particularly for healthy applicants who could qualify for preferred rates with more competitive carriers. Securian’s rates may be more attractive for higher-risk applicants due to their flexible underwriting, but shopping multiple carriers typically yields better pricing for standard health profiles.
Should I choose Securian over other highly-rated insurers?
Direct answer: Securian works best if you prioritize financial stability and need high no-exam coverage limits, but consider alternatives if customer service quality or competitive pricing are important. Compare quotes from multiple A+ rated carriers and evaluate trade-offs between financial strength, service quality, and premium costs based on your specific priorities.
