Securian Life Insurance Review 2026: Pros, Cons, Rates & Ratings
Securian Financial — the company long known as Minnesota Life — is one of the most established mutual insurers in the United States, writing policies since 1880. This Securian life insurance review breaks down the company’s product lineup, financial strength ratings, underwriting flexibility, and real-world pros and cons so you can decide whether a Securian term life or permanent life policy belongs in your portfolio.
What stands out immediately about Securian is its balance: it pairs the stability of a 140-year-old mutual company with genuinely modern tools like its WriteFit no-exam program, which lets healthy applicants skip the paramedical exam entirely. But no carrier is right for everyone. Below we compare Securian against top competitors, look at sample rates, and highlight the complaints and limitations you should weigh before applying.
Securian Financial at a Glance
Securian Financial Group is the holding company for Minnesota Life Insurance Company, its primary underwriter. The company is a mutual organization, which means it is owned by its policyholders rather than shareholders — a structure that historically supports strong dividend payouts and long-term financial conservatism.
| Attribute | Securian Financial Details |
|---|---|
| Founded | 1880 (as Minnesota Life) |
| Headquarters | St. Paul, Minnesota |
| Structure | Mutual company (policyholder-owned) |
| AM Best rating | A+ (Superior) |
| Primary products | Term life, whole life, universal life, indexed universal life, hybrid LTC |
| No-exam option | WriteFit accelerated underwriting |
| NerdWallet rating | 4/5 |
| WSJ rating | 3.9/5 |
Securian Life Insurance Products
Securian’s lineup covers the full spectrum of life insurance needs, from budget term coverage for young professionals to sophisticated permanent policies used in estate planning and business succession. Here is how the product categories compare.
| Product Type | Best For | Key Features |
|---|---|---|
| Term life | Affordable coverage for a set period (10-30 years) | Level or decreasing premiums; convertible to permanent |
| Whole life | Lifelong protection with guaranteed cash value | Fixed premiums, dividends eligible, policy loans |
| Universal life | Flexible premiums and death benefit | Adjustable coverage, cash value accumulation |
| Indexed universal life (IUL) | Cash value growth tied to equity indexes | Cap and floor protection, overloan protection riders |
| Hybrid LTC (SecureCare IV) | Long-term care funding tied to life insurance | LTC benefit pool, chronic illness accelerated benefits |
Securian also offers a broad menu of riders — optional add-ons that tailor a base policy. The accelerated death benefit rider provides early access to death benefit proceeds if you are diagnosed with a terminal illness, and child coverage riders allow you to insure your children under a parent’s policy. For businesses, Securian supports key person coverage, buy-sell funding, and executive benefit plans.
Securian Financial Strength and Ratings
Financial strength is the single most important factor when choosing a life insurer, because a policy is only as good as the company’s ability to pay claims decades from now. Securian scores exceptionally well on this front.
- AM Best: A+ (Superior) — the second-highest rating category, reflecting excellent ability to meet ongoing policy obligations.
- SuperMoney: A+ — the highest financial strength rating SuperMoney assigns to life insurers.
- NerdWallet: 4/5 — strong marks for product breadth and underwriting flexibility.
- WSJ/Barron’s: 3.9/5 — noted as a good option for applicants who want fast approval.
Because Securian is a mutual company, strong performance flows back to policyholders through dividends on participating whole life policies. Independent analyst reviews from Insurance and Estates have also highlighted Securian’s indexed universal life products and its SecureCare IV hybrid long-term care policy as competitive options in their categories.
Sample Securian Life Insurance Rates
Rates for any carrier depend on age, health class, coverage amount, and term length. The figures below are illustrative monthly premiums for a healthy non-smoking applicant and should be used as a baseline — your exact quote depends on your health profile and the underwriting class you qualify for.
| Age | Term 20, $500K (Preferred) | Term 20, $500K (Standard) | Whole Life, $250K (est.) |
|---|---|---|---|
| 30 | $28-$35 | $38-$46 | $180-$220 |
| 40 | $45-$55 | $60-$75 | $290-$350 |
| 50 | $95-$115 | $130-$160 | $470-$560 |
| 60 | $210-$260 | $290-$360 | $800-$960 |
For a full breakdown of how age and health class shift pricing across the industry, see our term life insurance rates by age guide. If you want coverage without a medical exam, Securian’s WriteFit program is one of several no medical exam life insurance options worth comparing.
Pros of Securian Life Insurance
- Exceptional financial strength — A+ AM Best rating from a policyholder-owned mutual, in business for 145 years.
- WriteFit no-exam program — healthy applicants can get term coverage without a paramedical exam, sometimes in days.
- Broad product lineup — term, whole, universal, indexed universal, and hybrid long-term care under one roof.
- Customizable riders — accelerated death benefits, child coverage, disability waiver, and more.
- Strong digital tools — online policy management, payment options, and claims filing.
- Dividend-paying whole life — mutual structure can return value to policyholders over time.
Cons and Complaints to Weigh
- Not the cheapest term rates — in many age bands, online-first carriers undercut Securian’s term pricing.
- Digital experience lags insurtechs — full online application and instant-approval tools are less advanced than Ladder or Ethos.
- Agent-dependent for many products — universal and whole life coverage typically requires working with a licensed agent.
- Mixed customer service feedback — some policyholders report slower service during peak periods.
- IUL complexity — indexed universal life products carry caps, participation rates, and surrender charges that require careful review.
Complaints against Securian are relatively rare compared with larger direct writers, but as with any carrier, it pays to check the latest NAIC complaint index and BBB profile before committing. Transparent consumer resources are available through the NAIC consumer information portal, and you can verify Securian’s current ratings directly on the AM Best ratings site.
Who Is Securian Life Insurance Best For?
Securian is an excellent match for applicants who value stability and flexibility over rock-bottom pricing. The sweet spots:
- Young professionals — affordable term coverage with a path to convert to permanent later.
- Families with long-term needs — permanent policies that balance protection with cash value growth.
- Estate and business planning — IUL and whole life products for wealth transfer and succession strategies.
- Applicants who want to skip the exam — WriteFit can approve healthy applicants without bloodwork.
- Those planning for long-term care — SecureCare IV combines life insurance with an LTC benefit pool.
How Securian Compares to Other Carriers
When shopping for a carrier review, context matters. Securian competes most directly with other mutual and agent-distributed carriers. For comparison, read our Equitable Financial review, our Guardian Life review, and our MassMutual review. If you are leaning toward permanent coverage, our universal life insurance guide explains how flexible-premium policies compare with whole life.
How to Apply for Securian Life Insurance
- Decide how much coverage you need — a common rule is 10-15x annual income plus debts and future education costs.
- Choose between term and permanent based on budget and long-term goals.
- Get quotes from Securian and 2-3 competitors to compare pricing for your exact health class.
- Complete the application with a licensed agent or through Securian’s WriteFit accelerated process.
- Complete any required medical exam or provide records for underwriting review.
- Review the policy illustration, riders, and surrender terms before signing.
Frequently Asked Questions
Is Securian life insurance legit?
Yes. Securian Financial (Minnesota Life) has operated since 1880 and holds an A+ (Superior) financial strength rating from AM Best. It is a legitimate, highly rated mutual insurer.
What is Securian’s AM Best rating?
Securian’s primary underwriter, Minnesota Life Insurance Company, holds an A+ (Superior) financial strength rating from AM Best, the second-highest of the agency’s rating categories.
Does Securian offer no-exam life insurance?
Yes. Securian’s WriteFit program uses accelerated underwriting to approve many healthy applicants for term life coverage without a paramedical exam, using prescription database and motor vehicle record checks instead.
Is Securian a mutual or stock company?
Securian is a mutual company, meaning it is owned by its policyholders. That structure can produce dividends on participating whole life policies and emphasizes long-term financial conservatism.
Can I buy Securian life insurance online?
Term coverage through WriteFit can be started digitally, but most Securian permanent policies are sold through licensed independent agents and financial professionals. You can use Securian’s agent locator or work with an independent broker.
How does Securian compare to Ladder or Ethos?
Ladder and Ethos are online-first carriers with faster applications and often lower term rates, but they have shorter track records. Securian offers a 145-year history, mutual ownership, and a much broader permanent product lineup, at the cost of a more traditional buying process.
Bottom Line
Securian is a dependable, financially superb carrier for buyers who want a full-service insurer with strong permanent products and a no-exam term option. It is not the cheapest term policy on the market, and its digital experience will not wow insurtech fans — but for stability, rider flexibility, and long-term policyholder value, Securian belongs on any serious shortlist.
Get Your Free Life Insurance Quote
Ready to compare Securian against the best-rated carriers for your exact age, health, and budget? Get free quotes from multiple top-rated insurers today — no obligation, takes two minutes, and you will see exactly which company offers the best rate for your profile.
Related Resources
Video: Securian Life Insurance Honest Review by Wise Explainer.
