Minnesota Life Insurance Company (Securian Financial)

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Formerly Minnesota Life Insurance Company, Securian Financial is a dependable carrier with a variety of affordable policy options.

A.M. Best




Standard & Poor’s


The Good

  • Financial security
  • Solid reputation
  • Affordability
  • Wide range of policy options
  • Versatile riders
  • Additional products

The Bad

  • Limited customer support
  • Lack of policy information online
  • No online quotes
  • Mediocre customer service

Product Availability

Policy Types
  • Term
  • Universal
  • Indexed universal
  • Variable universal
  • Whole
  • Accelerated death benefit
  • Business travel accidental death
  • Children’s term
  • Early cash value
  • Guaranteed insurability
  • Overloan protection
  • Surrender value enhancement
  • Term conversion
  • Waiver of premium

Review Breakdown





Financial Strength


User Experience


Product Availability





Your life insurance rates are decided by a number of factors which companies use to determine risk.

These include your age, sex, health, and family health history, among other considerations.

Since each company has its own standards for assessing risk and assigning rates, it’s important to compare quotes before choosing a life insurance company.

Securian does not offer online quotes, making it challenging to compare the company to competitors without contacting them directly.

In general, Securian’s rates are reasonable for most applicants. Their term rates are most competitive among those who are at least fifty years of age but are comparable across the board.

When you factor in the variety of policies, long list of riders, and additional financial planning products, Securian Financial does offer a lot of value for its cost.

Financial Strength

One of the greatest measures of an insurance carrier is its financial strength. You need to choose a provider you can depend on to meet its financial obligations.

Minnesota Life, and now Securian Financial, has been highly rated by all four of the major credit agencies, garnering the ratings below:

A.M. BestA+
Standard & Poor’sAA-

These impressive ratings have resulted in a Comdex score of 96.

Along with these ratings, Securian Financial boasts $78.6 billion of assets under management.

Overall, these metrics suggest the company is solvent, with a strong foundation, and an optimistic outlook.

User Experience

Another important factor to consider when you evaluate a life insurance company is user experience.

Ideally, a life insurance company will make shopping for coverage, applying, and managing a policy easy.

Here’s a breakdown of what you can expect as a Securian Financial policyholder.


Consumer ratings can be useful for gauging how a company treats its clients.

To evaluate user experience for life insurance carriers, we can look to the Better Business Bureau and the J.D. Power U.S. Life Insurance Study.

Securian Financial has been accredited by the BBB since 1996, lending to its credibility.

However, its “B” rating suggests there is room for the company to improve its user experience.

Securian Financial was included in J.D. Power’s latest life insurance study, earning a score of 741 on a 1,000-point scale for overall customer satisfaction.

While Securian ranked as one of the top 20 carriers included in the survey, its satisfaction score falls below the industry average.


Securian’s website is clearly laid out and easy to navigate, providing users with ample information on the company’s financial performance, ratings, and history.

It also has calculators to help insurance shoppers determine their coverage needs, along with educational blog content.

Though these tools are useful, the site provides minimal information about its policies, failing to include face amounts, age requirements, and other important details for most policy options.

While there is an online calculator, you cannot get actual quotes anywhere on the website, or start the application process.

The website prompts policyholders to contact Securian by email or phone for questions and many policy updates.


To get quotes or apply for a life insurance policy from Securian Financial, you’ll need to work with a life insurance agent or contact the company directly via their customer service line or online form.

The application process can vary depending on what type of policy you purchase.

For instance, you may not have to undergo medical underwriting if you are enrolling in a group life policy offered by your employer.

When you apply for an individual policy from Securian, you’ll be required to complete an application, with a potential additional health questionnaire.

From there, Securian may require you to complete a medical exam. The company could also access your records to make their decision.

Securian notes on its website that the underwriting process may take between two weeks and three months, slower than some of its competitors who offer quick decisions.

Product Availability

Securian Financial offers a wide range of term and permanent life insurance policies to suit most families’ needs.

The company also sells long-term care policies, and various accident and illness insurance coverages, ranging from accidental death to critical illness policies.

Here’s a look at each of Securian’s life insurance options.


Securian Financial offers an affordable term life insurance product to cover temporary financial needs.

Securian’s term policies come in a variety of term lengths ranging from 1 to 30 years, allowing you to mold your coverage to your changing needs.

You can also convert your policy into a permanent one if you still need coverage later in life.

The company’s group term life policies offer guaranteed coverage, while you’ll likely be required to submit to a medical exam for an individual policy.


For more long-term coverage needs, Securian offers several permanent policy options, including universal life insurance.

Universal policies offer both a death benefit and an accessible cash value account which can accumulate interest.

These policies also come with flexibility, allowing you to adjust your face amount and payments to adapt to your needs.

Securian offers three investment options, based on your risk tolerance and goals:

  • Fixed: The least risky option, this universal option lets you lock in a fixed interest rate for cash value growth.
  • Indexed: With an indexed policy, growth is tied to a market index like the S&P 500, with the potential for more growth at a moderate level of risk.
  • Variable: Posing more risk than fixed and indexed policies, variable universal life insurance lets you invest in assets of your choice, with market performance determining your cash value’s growth.

Securian’s indexed universal coverage can also be purchased as a survivorship policy, allowing couples to secure more affordable protection.


Less risky and more expensive than universal life insurance, whole life insurance is another permanent policy offered by Securian.

With whole life insurance, you get guaranteed premiums and coverage for life.

As long as you make premium payments on time, your coverage is guaranteed not to lapse.

With whole life insurance, you also get access to a cash value account, which grows at a low fixed interest rate.


Founded in 1880, Minnesota Life began as a life insurer in the local community of St. Paul and throughout Minnesota, where it is still headquartered today.

It grew quickly over the next several decades, encompassing larger areas and increasing its in-force policies.

Even through crises like the Great Depression, Minnesota Life thrived. Today, the company continues to flourish, but under a new name.

In 2018, Minnesota Life made a bold move to re-brand the company by officially adopting its parent company’s name: Securian Financial.

From insurance plans and investment options to business strategies and retirement planning, Minnesota Life aims to help families secure their financial futures.

Securian Financial has over $1.4 trillion of life insurance in force, with more than 21 million customers in North America alone.


Minnesota Life’s core values – trust, strength, integrity, quality, respect, and community are exhibited through their philanthropic efforts.

Each year, the Securian Financial Foundations pours millions of dollars into building up communities, supporting youth and education, and providing financial stability for families in need.

Additionally, Securian Financial matches employees’ gifts and volunteer hours with donations, as well as granting volunteer paid time off.

The company is also dedicated to sustainability, holding the following certifications:

  • Fitwel certification
  • Leed Silver certification
  • ENERGY STAR certification

Brand Recognition

With its size and longevity in the United States, Minnesota Life has always been a well-respected brand, albeit less well-known than some of its competitors.

The decision to re-brand has initiated a more consistent, recognizable identity, affording the company a more competitive edge.

In addition to engaging with communities through its charity work, Securian Financial uses social media to connect.

The company has active accounts on Facebook, Twitter, and Instagram, using these platforms to educate followers on financial topics and keep them up to date on the company’s activities.

Securian also shares promotional content and educational videos on Youtube.


Before you apply for life insurance, it’s a good idea to do your homework, taking more than one perspective into account.

Our rating of Securian Financial also factors in professional opinions from across the industry.

Securian Financial didn’t make the cut on our list of the top 10 life insurance companies, and it isn’t featured in most lists of the very best providers.

This is likely due to the company’s subpar user experience and lack of information regarding policies, quotes, and the application process.

Despite its shortcomings, Minnesota Life, now Securian Financial, is a rock-solid provider with a range of policy options which could suit your needs.

Minnesota Life Insurance Company (Securian Financial)

(833) 810-8265
400 Robert St. N.
St. Paul, MN 55101

Company Name (and subsidiaries)

  • Securian Financial Services, Inc.
  • Securian Life Insurance Company (NY)
  • Securian Financial Group, Inc. (Parent)


Jason Fisher

Jason Fisher is the founder and CEO of BestLifeRates.org, LLC. and a multi-state licensed life insurance agent who has helped over a million Americans seek out affordable coverage, compare quotes, or get their family and businesses covered.