InsuredBetter's Securian Financial Insurance Company Score
2.5 Stars
We award Securian Financial insurance company a final rating of 2.5 out of 5 stars. The carrier has high official ratings by AM Best and the BBB, but it is not accredited by the latter organization and has had many customer complaints filed against it. Customer feedback also seems to be largely negative.
Securian Financial was founded in 1880, giving the carrier well over a century of experience in the insurance industry. The insurance company was founded in St. Paul, Minnesota, with a mission to help families plan financially for major milestones in life. Today, the carrier offers coverage for individuals and businesses. Various life insurance products and annuities are available for individuals, while financial professionals and employers can choose from long-term care insurance and group health insurance products.
That being said, customers don’t seem satisfied with their coverage. It’s virtually impossible to find a customer review that isn’t dismal at best. Customers seem frustrated with their coverage and the carrier itself, going as far as to say that representatives are not kind, even when handling tragic claims. Overall, we say that if reliable coverage and strong customer service are important to you, then work with your independent insurance agent to survey all your other options for life insurance and similar products, and skip looking into Securian Financial entirely.
Securian Financial Pros and Cons:
| Pros: | Cons: |
|---|---|
Longstanding carrier, founded in 1880
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Not a BBB-accredited carrier
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Specializes in life insurance and annuities
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Many complaints filed through the BBB
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One of the largest life insurance companies in the U.S.
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Negative customer feedback
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Offers coverage for individuals and businesses
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No discount information available
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“A+” (superior) rating by AM Best
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No claims process information available
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“A+" (excellent) rating by Better Business Bureau (BBB)
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A Fortune 500 company
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Securian Financial Insurance Products by Type
Securian Financial is a specialized insurance company that focuses on life insurance. Its coverage offerings include:
Personal Life Insurance & Annuities:
- Term life insurance
- Whole life insurance
- Universal life insurance
- Variable life insurance
- Surivorship life insurance
- Immediate annuities
- Fixed deferred annuities
- Fixed-indexed deferred annuities
- Registered indexed-linked annuities
- Variable deferred annuities
Financial Professionals Insurance:
- Chronic illness insurance
Employer Insurance:
- Group life insurance
- Supplemental health insurance
Securian Financial Life Insurance Average Prices
Securian Financial does not make its average life insurance rates readily available. Your policy's premiums may vary considerably depending on your age, health status, occupation, and other factors. You can get a better estimate of how much a life insurance policy might cost for you by using our life insurance calculator. An independent insurance agent can also help you get a life insurance quote from the carrier.
What Discounts Does Securian Financial Offer?
While Securian Financial does not make information about its specific discounts readily available, most life insurance companies today offer several common discounts on comparable coverages. These discounts often include:
- Annual premium discount: Insurance companies often award discounts to customers who pay their premiums annually instead of monthly.
- Non-tobacco user discount: Life insurance companies tend to reward customers who do not use tobacco products with cheaper premiums.
- Young applicant discount: When signing up for life insurance, considerable discounts are often awarded to applicants who purchase coverage when they are younger, such as in their 20s or 30s.
- Healthy family history discount: Life insurance companies also reward applicants with healthy genetics, or a good family health history.
- Safe hobbies discount: Life insurance companies often award customers who practice safe, non-life threatening habits (e.g., no skydiving) with cheaper premiums.
Your independent insurance agent can help you find more information on exact discounts offered by Securian Financial and additional ways to save money through the insurance company, helping you get the best value without sacrificing quality coverage.
Securian Financial Customer Service
Here's an overview of Securian Financial's customer service options and availability.
- Phone
- Online claims reporting
- Snail mail
- Customer service phone department has the following hours restrictions:
| Days | Hours (CT) |
| Monday-Friday | 7 a.m. - 6 p.m. |
| Saturday-Sunday | CLOSED |
The best way to ensure a smooth customer service experience is by working with an independent insurance agent. Independent insurance agents can help make customer service easier for you by handling claims and other concerns.
Securian Financial Insurance Company FAQs
What is Securian Financial's average claim response time frame?
Securian Financial allows customers to file claims via phone, fax, regular mail, email, or online. However, the carrier does not list a specific claims response time frame promise.
What is Securian Financial's customer service availability?
Securian Financial offers claims reporting through multiple mediums, but does not offer 24/7 phone claims reporting. The customer service phone line is available at generous hours, Monday-Friday. The insurance company also has a social media presence on Facebook, LinkedIn, and Instagram, which makes it more accessible to customers.
What is Securian Financial's claims process?
Securian Financial provides phone, fax, email, snail mail, and online claims filing options. The carrier does not detail its specific claims process beyond how to file.
Does Securian Financial create a user-friendly experience for customers?
Securian Financial offers a polished website and many options for customers to contact the carrier. However, it offers limited information about discounts or claims processing. Overall, Securian Financial offers a fairly user-friendly experience for customers.
Does Securian Financial have good life insurance?
Yes, Securian Financial offers several types of life insurance, including term, whole, universal, and variable products.
Is Securian Financial a good insurance company?
Securian Financial has been around for well over a century. The carrier has excellents rating from AM Best and the BBB. However, the carrier has also had quite a few complaints filed against it through the BBB in recent years and is not accredited by the organization. Further, virtually all customer feedback about the carrier is negative. There actually aren’t any positive customer reviews to be found. Because of this, we’re hesitant to say that Securian Financial can be considered a good insurance company.
Who are Securian Financial's insurance products right for?
Securian Financial's insurance products may be right for individuals seeking various types of life insurance or annuities, for employers seeking group health insurance, or for financial professionals seeking long-term care insurance.
Sources
https://www.securian.com/
https://news.ambest.com/newscontent.aspx?refnum=262666&altsrc=23
https://www.bbb.org/us/mn/saint-paul/profile/consumer-finance-companies/securian-financial-group-inc-0704-721
