Securian Financial (Previously Minnesota Life Insurance) Review 2020

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AT A GLANCE

  • Proinsurancereview standing: No. 11 life Insurance Carrier.
  • A broad array of term and permanent policies provided.
  • Online estimates aren't offered.

Securian Financial, formerly Minnesota Life Insurance Co. in the majority of states, provides life insurance and other goods, like annuities and investment providers. The business was established in 1880 and has over $1 trillion in life insurance policies in force.

Securian Financial life insurance

Securian Financial ranked No. 11 on Proinsurancereview listing of the 20 greatest life insurance businesses. Proinsurancereview assesses the nation's biggest life insurance companies based on customer complaints and financial strength, customer satisfaction.

Along with term and whole life insurance policy, Minnesota Life provides three kinds of life insurance coverages that are universal. Universal life is.

  • Fixed universal lifestyle: The cash-value expansion is tied into a predetermined rate of interest. It is the least risky of the three life policies.
  • Indexed universal lifestyle: The cash-value expansion is tied into the operation of an indicator, like the S&P 500. It gives the potential for higher returns but is significantly less insecure compared to life.
  • Variable universal life: The cash-value expansion is tied to investments selected by the policyholder. It provides the potential for yields than fixed or indexed danger in addition to life, including the opportunity of losing money value when the underlying investments perform.

Some policies offer you the choice to make use of gains when you've got a chronic illness, before you die or desire maintenance.

In certain countries, Securian Financial provides accidental death insurance, a form of life insurance that pays out if a crash causes your death.

Securian Financial complaints and customer satisfaction

Over three decades, Securian Financial has fewer complaints to state authorities than anticipated for a firm of its size, based on Proinsurancereviewevaluation of information from the National Association of Insurance Commissioners.

Securian Financial's evaluation for overall client satisfaction has been below average in J.D. Power's 2019 U.S. Life Insurance Study. The insurance company rated No. 18 overall from 24 life insurance firms assessed.

Customer satisfaction classSecurian Financial's score
Total satisfactionBelow typical
Billing and paymentBelow typical
CostAbout typical
Policy offeringsBelow typical
InteractionBelow typical
CommunicationAbout typical

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More about Securian Financial

Securian Financial provides other financial products along with life insurance:

  • Crash, illness and supplementary hospital insurance.
  • Annuities.
  • Credit insurance.
  • Gap insurance for vehicles.
  • Investment and trust solutions.
  • Financial planning.
  • Workplace advantages.

METHODOLOGY: INSURER COMPLAINTS

Proinsurancereviewanalyzed complaints received by state insurance companies and reported on the National Association of Insurance Commissioners in 2016-2018. To evaluate insurance companies compare to another, the NAIC computes a criticism index measuring share of premiums from the business, or its share of complaints relative to its dimensions. To evaluate the complaint history of a company, Proinsurancereview calculated that a similar indicator for every insurance company, measured by market shares of each subsidiary. Ratios are decided for home, automobile, and life insurance.

Go to Securian Financial insurance website

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