Securian Retirement Plans for 2022
Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states.
After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in…
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Written by
Rachael Brennan
Licensed Insurance Agent
Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.
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Reviewed by
Benji Carr
Former Licensed Life Insurance Agent
UPDATED: Feb 8, 2022
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Quick Facts
Retirement plans are invaluable tools that help you develop financial goals for your future and create a plan to reach them
Securian also offers life insurance to help secure the financial future of your family
The NAIC notes that Securian has more complaints than other similar companies, and angry customers plague the company
Securian Financial Group was founded in 1880 and has been headquartered in St. Paul, Minnesota since its inception. Over the years, Securian has grown to offer various products, from retirement planning services to life insurance.
Securian’s retirement plans are customized to your unique financial goals. A financial advisor will help you with every step, including regular reviews to ensure your retirement is on track.
If you’re interested in Securian retirement plans or life insurance, you should always compare with other companies before you make a decision. If you’re interested in insurance quotes, enter your ZIP code into our free tool to see what rates might look like for you.
What are retirement plans?
People commonly spend the greater part of their lives working. Some people love their jobs, others struggle to get out of bed in the morning, but everyone has a common end goal: retirement.
Today’s economy can make it extremely difficult to retire. In fact, 56% of Americans believe they’ll have to work past the age of 65, while 35% think they’ll never have the opportunity to retire. That’s where retirement planning comes in. Retirement plans enable you to live out your golden years in comfort without having to worry about your finances.
When you create a retirement plan, you usually set financial goals for yourself. An advisor helps you determine which actions you should take to reach those goals. While there are a lot of variables in retirement planning, you typically look at your income, total your expenses, manage your assets, and create a savings plan.
Your retirement advisor will let you know if your goals are realistic. If they’re not, they can advise you on how to get where you want to be. Ideally, you start your retirement plan at a young age and manage it throughout your life. However, it’s never too late to start planning.
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Securian Financial Retirement Plans
Securian prides itself on its customer-centered approach when it creates retirement plans. From the Securian retirement center, you’ll get help every step of the way to create the perfect financial goals for your needs.
Each retirement plan is carefully crafted through Securian’s financial planning process. This process starts with an interview with a financial advisor. The advisor listens to what you want from your retirement and what’s important to you.
From there, your advisor will help you develop the financial goals you need to meet for your retirement to be what you want. They’ll also help you strategize so you can meet your goals. Your goals should be both short- and long-term, and they should map out from where you currently are to your retirement.
Financial Analysis for Your Retirement Plan
It’s one thing to have financial goals, but that only does you so much good. If you want to reach those goals, you need a plan.
Securian advisors will review all sources of your income and debt: tax liabilities, protection needs, money income, debt, savings, and all other factors. Using that information, your advisor will develop a realistic way to reach your retirement goal.
Your advisor should have the experience and know-how to either help you reach your goal or to let you know it’s not realistic. If your goals are achievable with your income to debt ratio, you’ll get an easy-to-follow plan that should cover all your needs.
After your roadmap to financial security is set, you’ll have periodic reviews to make sure you’re still on track.
Securian Life Insurance
Retirement plans aren’t the only service Securian offers. Another financial tool to help you plan for your family’s future is life insurance. While it won’t help you in retirement, life insurance is one of the best ways to make sure the people you leave behind aren’t crippled by end-of-life expenses.
Securian is more than Minnesota life insurance – you can buy a policy in all 50 states, as well as Washington D.C.. For the most part, the Securian Financial life insurance company sells employer insurance, but they also have individual plans. If you’re interested in Securian as a life insurance company, you have several options.
Whole life. You can buy whole life insurance through your employer if they shop from Securian. Your whole life policy will accumulate cash value, which can be borrowed against.
Advantage Elite Select Term. Securian’s term life comes in options of 10, 15, 20, or 30-year terms. You can buy an add-on to convert your term into a permanent plan in the future.
Eclipse Accumulator IUL. This is an indexed universal life insurance plan, available to anyone ages 0 to 80. You choose between level or increasing death benefits, four indexed account options, a minimum guaranteed interest rate of 2% at death, and a surrender charge for 10 years.
Eclipse Protector II IUL. This has the same options as the original Accumulator without the surrender charge.
Convertible Annual Renewable Term. You can secure your insurability with this plan, meaning you can convert it to a permanent plan without having another health exam.
If you’re interested in Securian life insurance, there are other specialty options to consider. When you speak with an agent, they will help you decide which is the best option for you.
Securian Financial Reviews
A website can make as many promises as it wants, but what really tells you if it’s the company for you is the reviews.
For professional ratings, the National Association of Insurance Commissioners (NAIC) rates insurance companies by their complaint ratio. The national average is an even 1.0. Anything higher means more than average complaints, while lower means the company is doing well. The NAIC gives Securian Financial 3.66 for individual life insurance. That means Securian gets triple the complaints that similarly sized companies get. This ratio has worsened in the last year – in 2019, the company had a decent 0.98.
A.M. Best rates insurance companies on their financial strength. When a company has good financial stability, it means you can trust them to pay claims when you need them. Securian holds an A+ with A.M. Best, which is the second-highest rating a company can earn,
So, what do customers say about it? On the positive side, customers enjoy buying many different products with plenty of add-on options. On the negative side, you can’t get quotes online — you’ll need to speak with an agent.
For financial services, there are numerous angry customers that state the company doesn’t want to give money back to customers. Securian has so many negative reviews regarding claims going unpaid for months that it’s hard to find happy customers.
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Find the Best Insurance for Your Future
Although Securian has earned the anger of many of its customers, it still might be the best option for you. While insurance options might not be the best, Securian’s retirement plans are generally considered reliable options for your future.
If Securian retirement plans or insurance sound appealing, you should compare prices with other companies to find the best product. Enter your ZIP code into our free tool to see what rates might look like for you.
