Company History and Financial Ratings
Securian Financial, operating under Minnesota Life Insurance Company, has been in business since 1880. With over 140 years of experience, they’ve built a reputation for financial strength and long-term stability. Their current financial ratings reflect this:
- A.M. Best: A+ (Superior)
- Standard & Poor’s: AA- (Very Strong)
- Moody’s: Aa3 (Excellent)
- Fitch: AA (Very Strong)
- Comdex Score: 95 out of 100
These scores place them among the top-tier insurance carriers, indicating their ability to meet obligations, pay claims reliably, and maintain long-term financial health.
Products Offered
Securian Financial offers a wide variety of insurance and retirement planning solutions, including:
- Term Life Insurance – Simple, affordable coverage with 10-, 20-, and 30-year term options. Some policies are available with no medical exam.
- Universal Life Insurance – Flexible permanent coverage, including traditional universal life, indexed universal life (IUL), and variable universal life (VUL).
- Hybrid Life + Long-Term Care Insurance – Combines permanent life insurance with long-term care protection for added security.
- Annuities – Includes fixed, fixed indexed, and variable annuities designed to build retirement income and defer taxes.
These product lines cater to a wide range of financial needs: from affordable term protection to cash value growth, long-term care planning, and guaranteed lifetime retirement income.
Compare Securian Financial Life Insurance With 25+ Companies
Why Comparing Matters
Choosing the right insurance or annuity product isn’t just about the brand name. It’s about finding the best value for your goals. That means comparing:
- Premium Rates – Premiums can vary significantly by company for the same coverage. A low premium might come with limited features or hidden trade-offs.
- Interest Rates – Whether you’re buying a fixed annuity or using the fixed account on a universal life policy, the interest rate you earn affects your cash value or income growth.
- Income Payouts – If you’re relying on annuities or policies with living benefits, compare how much monthly or annual income each product provides for your investment.
Without these comparisons, you could end up paying more and receiving less than what’s available elsewhere.
Who Needs This and Who Doesn’t
Who Should Consider Securian Financial
If you value long-standing financial strength, prefer a wide product menu, and are looking for flexible life or long-term care solutions, Securian is worth considering. They’re also a solid option for consumers wanting to bundle life insurance with annuity income or long-term care needs.
Who Might Not
If you’re looking for the lowest-cost term life insurance with top-tier digital customer service, or prefer modern digital tools and real-time service, other carriers may provide a better experience.
Should You Consider Annuities?
Yes—annuities should always be part of the conversation, especially if you’re concerned about outliving your money or need guaranteed income later in life. Securian offers both fixed and indexed annuities that can:
- Provide income for life with optional income riders
- Be funded with qualified (IRA, 401(k)) or non-qualified money
- Offer protection from market losses with predictable returns
Anyone planning for long-term income or needing tax-deferred growth should look into annuities, especially retirees, business owners, and those in high-income tax brackets.
Compare Annuity Income
Our Professional Opinion on Securian Annuities
Securian offers some annuities we like, and Minnesota Life is a great insurance company. Minnesota Life, which issues these annuities, has an A+ (Superior) AM Best rating, comfortably above our A− minimum.
For growth, we especially like the option to lock an annual S&P 500 cap for the full surrender period. That is a big deal: many insurers can lower their caps while your money is still subject to surrender charges. The locked cap still needs to be competitive, and it must be selected when you buy the contract.
For fixed savings, we like having choices between first-year access with no market value adjustment and a guarantee period that matches the surrender schedule. Watch the term you choose: some shorter rate guarantees can expire while surrender charges still apply.
For ordinary lifetime income, we would first compare a guaranteed lifetime withdrawal benefit. Securian’s immediate annuity can be useful for a specific job, such as an income bridge before Social Security. It also offers a limited advance on future payments with eligible options, but that is not the same as having an accessible account.
What We Like
- Great financial strength: Minnesota Life’s A+ rating exceeds our minimum.
- A full-term cap lock: An available indexed strategy locks its S&P 500 cap for the surrender period.
- Fixed annuity choices: Some designs offer first-year access and no market value adjustment.
- An income advance: Eligible immediate annuity owners can take a one-time advance on part of their guaranteed future payments.
What We Don’t Like
- The rate and surrender period can differ: Some fixed-rate options leave you exposed to renewal rates while withdrawal charges continue.
- The cap lock requires an early decision: You must select that indexed option when you buy; you cannot move money into it later.
- Full surrender can be costly: Some contracts limit or remove the ordinary free-withdrawal allowance when you surrender the entire policy early.
- Immediate income limits access: An advance reduces future payments and does not give you unrestricted access to your deposit.
Explore our individual Securian annuity reviews using the links below to see how each product works and which features matter most.
Minnesota Life Annuity Product Reviews
Get Help Comparing Your Options
Whether you’re deciding on life insurance, long-term care coverage, or retirement income strategies, comparing premium rates, interest crediting methods, and guaranteed payouts is essential. Don’t do it alone.
Contact The Annuity Expert for free quotes and expert advice on buying life insurance and annuities that meet your goals. We’ll help you understand the fine print—and show you how much more value you could be getting elsewhere.👈
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