Securian Financial and its affiliate Minnesota Life Insurance Co. provide life insurance in all 50 states, plus other products, such as annuities and investment services. Founded in 1880, the insurer was known as Minnesota Mutual Life Insurance Company for nearly a century before adopting the Securian brand. The company has more than $1 trillion in life insurance policies in force.

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TAKE CARE OF WHAT MATTERS MOST
Your family is unique — your life insurance should be, too.

Securian Financial life insurance
3.5NerdWallet rating 
Securian Financial earned 3.5 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account consumer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings.

» MORE: Best life insurance companies in 2023

Securian Financial life insurance policies
Term life insurance. Securian offers term life insurance policies lasting 10, 20 or 30 years, and most policies can be converted to permanent coverage at a later date.

Whole life insurance. Securian’s whole life insurance policies are fairly standard, offering lifelong coverage and guaranteed cash value growth.

Universal life insurance. The company offers three types of universal life insurance, all of which offer a cash value component that grows tax-deferred.

Fixed universal life: The cash-value growth is tied to a fixed interest rate, making it less risky than its other universal policies.

Indexed universal life: The cash-value growth is tied to the performance of an index, such as the S&P 500. Indexed universal life insurance offers the potential for greater returns than fixed universal life, but is less risky than variable universal life. There is also a survivorship option, which insures two lives, typically a couple. The death benefit is paid out after both individuals die.

Variable universal life: The cash-value growth is tied to investments chosen by the policyholder. Variable universal life insurance offers potential returns if the investments perform well, but also the chance of losing cash value if the underlying investments perform poorly.

Universal life insurance with long-term care: The company also offers a hybrid life insurance and long-term care policy, which pays out a separate benefit to help pay for long-term care expenses like a nursing home.

You may be able to customize your coverage with an accelerated death benefit rider that allows you to  tap into the policy’s payout before you die if you have a chronic illness.

AD&D insurance. Securian Financial also sells accidental death and dismemberment insurance, a type of life insurance that pays out if you die or suffer certain injuries in an accident.

» MORE: Best accidental death and dismemberment policies

Securian Financial customer complaints and satisfaction
Over three years, Securian Financial has drawn fewer complaints to state regulators than expected for a company of its size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners.

Additionally, Securian Financial ranked 16th out of 22 companies in J.D. Power’s 2022 U.S. Life Insurance Study for overall customer satisfaction
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More about Securian Financial
The Securian Financial website offers life insurance educational content and free tools to determine how much coverage you need, plus the ability to make a payment, view your policy and report a claim. The Securian Financial mobile app also allows policyholders to access their account information, update beneficiaries and pay their premium.

Securian Financial offers other financial products in addition to life insurance:

Accident insurance.

Critical illness insurance.

Hospital indemnity insurance.

Annuities.

Credit protection insurance.

Financial planning services.

Investment and trust services.

» MORE: What is a financial planner?

TAKE CARE OF WHAT MATTERS MOST
Your family is unique — your life insurance should be, too.

Life insurance buying guide
Before you start comparing companies, choose the type of life insurance you want, such as term or whole life. Decide which life insurance riders, if any, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you’re considering offer the coverage you’re looking for.

When comparing rates, be sure the quotes are for the same amount of coverage over the same period of time. It’s also important to make sure the policy’s medical requirements match your needs. For example, if you want to skip the life insurance medical exam but don’t mind answering health questions, confirm that the application process for each policy you're comparing aligns with that.

Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.

For more guidance, see our life insurance buying guide.

Life insurance ratings methodology
NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.

These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.

Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2019-2021. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.