Securian Financial Group, Inc.

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Debt Protection and Credit Insurance for Credit Unions Benchmarking Survey Results

Whether debt protection or credit insurance, choosing the right program for your credit union can be challenging. A recent Securian Financial Group and NAFCU Services Corporation survey was conducted to identify the reasons why credit unions made the switch to debt protection or added it to their product portfolio. Download the key findings to serve as a blueprint to consider as you compare debt protection and credit insurance options for your credit union.

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Overview

One Hundred and Ten Percent: Our Promise to You
Going above and beyond, giving it our all, burning the midnight oil. Call it what you will. At Securian we call it a day at the office. That's because we never stop working for you. From custom design, to program implementation and ongoing support, Securian and its affiliates have been faithfully serving credit unions for over half a century.

We're also among the most respected. Securian is the exclusive NAFCU Services Corporation "Preferred Partner" for credit insurance and debt protection products. In addition, we have earned some of the highest ratings in the country for our financial strength and claims paying abilities. Click here for more information.

Flexible, Innovative, Compliant, Professional – It’s the Securian Way
Our financial strength, however, is just the start. At Securian we have the people, products and processes in place to solve many of the fee income challenges you may face. You can rest assured knowing you have a partner who has the experience to deliver on its promises whatever the situation.

Solutions

Credit Insurance
With over 625 credit insurance clients nationwide, Securian is recognized as a leader in the industry. We offer traditional credit life and disability insurance programs, as well as an enhanced array of new features to best meet your income and member/asset protection needs.

Securian offers a full array of credit insurance benefits:

Credit Life Insurance reduces or pays off the insured balance on a loan if a borrower dies.

Full Term Life provides a benefit up to the full term of the loan.
Truncated Term Life* provides protection for a term of insurance that is less than the term of the insured loan.

Credit Disability Insurance pays the loan payments (up to the contract limit) if a borrower becomes ill or disabled and is unable to work.

Full Term Disability provides a benefit up to the full term of the loan.
Critical Period Disability* provides a benefit limited to a specified maximum number of payments (for example a maximum of 12 months per occurrence).
Shared Disability* is a form of joint disability where two borrowers are each insured a percentage share of the monthly and total benefit amount.
*In approved states

Debt Protection
Leading the way with this innovative product, Securian has earned the business of over 190 debt protection clients nationwide. We were one of the first to market with our consumer debt protection programs, and we continue to pioneer new applications for this flexible protection.

Securian is committed to partnering with your credit union to design and implement successful programs. And we are one of few providers who will work with to you structure complete, combination (paired with an already successful credit insurance product) or a la carte (adding ancillary protection) programs. Whatever your debt protection need, Securian has the solution.

Securian offers an extensive selection of debt protection programs for all of your lending portfolios:

ConsumerSafe Debt Protection for personal/consumer loans.
EquitySafe Debt Protection for home equity loans and HELOCs.
HomeSafe Debt Protection for first mortgage loans.
EverSafe Debt Protection for all loan types.
CreditSafe Debt Protection for credit card accounts.
AutoSafe Debt Protection for indirect and direct auto loans.
VentureSafe Debt Protection for commercial and agricultural loans.
Custom Programs for unique business needs.

Recent product innovations only from Securian In response to credit union and member demand, Securian has developed the following debt protection solutions designed specifically to cover involuntary unemployment:

Worksafe Debt Protection – a turn-key, contributory (lender paid) program. Download brochure.
Securian Payment Assurance – non-contributory payment assurance program. Download brochure.

NAFCU Member-Only Benefits

Learn how you can maximize your credit insurance and debt protection income opportunity through a free program evaluation. And move your business to Securian to receive a 50 basis point signing bonus (subject to state compensation maximums). Call today to learn more about this NAFCU member-only offer.

THE CHOICE IS CLEAR
We believe partnering with Securian is the clear choice for credit unions. But don't take our word for it. Come see our promise in action. Contact your sales representative today and schedule a visit to our corporate campus in St. Paul. Download the Securian brochure.

Educational Resources

Debt Protection and Credit Insurance for Credit Unions Benchmarking Survey Results
Whether debt protection or credit insurance, choosing the right program for your credit union can be challenging. A recent Securian Financial Group and NAFCU Services Corporation survey was conducted to identify the reasons why credit unions made the switch to debt protection or added it to their product portfolio. Download the key findings to serve as a blueprint to consider as you compare debt protection and credit insurance options for your credit union.
Time to Take Another Look at Debt Protection? (Article)
A recent Securian Financial Group and NAFCU Services Corporation survey was conducted to identify the reasons why credit unions made the switch to debt protection or added it to their product portfolio. John Gibbons summarizes the survey findings in the May/June issue of NAFCU's The Federal Credit Union magazine.
Findings of the 2010 Securian Debt Protection & Credit Insurance Benchmarking Survey (Podcast)
Whether debt protection or credit insurance, choosing the right program for your credit union can be challenging. In this podcast, we uncover the key findings of a best practices survey that may serve as a blueprint for credit unions to consider as they compare debt protection and credit insurance options.
Credit Protection Proposed Rules Under Reg Z (Podcast)
The Federal Reserve Board has proposed changes to Reg Z relating to credit insurance and debt protection disclosures that could negatively impact credit unions’ sales of these products. In this podcast, we visit with Cathy Klimek, Counsel for Securian Financial Group. Cathy is an expert on Reg Z and will discuss the proposed rule and how it may affect credit unions if finalized.
Single-Signature Lending Plans After Revised Reg Z (Podcast)
The Federal Reserve has changed the rules under which credit is extended to our Members. In this podcast we visit with Cathy Klimek from Securian to get a sneak peek of a presentation at the 2010 NAFCU Strategic Growth Conference on the topic of Reg Z and the implications for credit unions.
Debt and its Impact on Retirement Security: a Generational Study (Podcast & Whitepaper)
While financial experts have long been concerned about the level of debt in America, this new research, Debt and its Impact on Retirement Security - a Generational Study, sponsored by Securian Financial Group, Inc. examines attitudes about debt and how debt is directly linked to retirement security.
Payment Assurance: The Win-Win Solution for Credit Unions (Podcast)
Credit union members are facing more economic uncertainty now than they have in many years, which has an effect on everything from their willingness to buy new homes and cars to their payment habits. In this podcast you will hear about a proverbial win-win solution, in which we can reduce members' anxiety with payment assurance protection, while also generating fee income for the credit union.
Meeting Member Needs With Income-Generating Solutions (Podcast)
With the financial difficulties being faced by many of our members, income-generating activity is down across the board at many credit unions. In this podcast we discuss specific solutions from Securian Financial Group that are particularly beneficial in these trying times for both credit unions and their members, in particular solutions that protect members from the consequences of adverse economic situations, like unemployment.
Debt Protection (Article)
this September/October 2007 issue of The Federal Credit Union Magazine, John Gibbons of Securian Financial Group guest writes about debt protection, including a case study that illustrates the key success factors in moving from a credit-based program to a debt protection-based program.

News

Securian subsidiaries upgraded by A.M. Best (April 13, 2012)
Securian Financial Group (SFG) announces that two of its subsidiaries serving the financial institution market were upgraded by A.M. Best. Securian Casualty Company (SCC), SFG’s primary property and casualty underwriting company, was upgraded to A (Excellent, third highest of 16 ratings).
Debt Protection Demand Increases: Uncertain Economy Drives Market for Credit, Debt Insurance (November 21, 2011)
While credit insurance and debt protection have been long-time staples for credit unions as part of their loan add-on product suites, some experts noticed that they are becoming more of a priority as the industry continues to seek new noninterest income streams.
Securian Survey Reveals CU Success with Debt Protection (January 3, 2011)
WASHINGTON — NAFCU Services Corporation and its Preferred Partner, Securian Financial Group, are offering credit unions a blueprint for success in debt protection and credit insurance programs in a new survey.
NAFCU Services and Securian Offer Podcast on Single-Signature Lending Plans after Revised Reg Z (February 23, 2010)
WASHINGTON — NAFCU Services Corporation (www.nafcu.org/nafcuservices) today announced a new podcast titled “Single-Signature Lending Plans After Revised Reg Z.” The podcast features Catherine Klimek, counsel at Securian Financial Group, the NAFCU Services Preferred Partner for credit insurance and debt protection.
Securian Financial Group and NAFCU Services Unveil New Podcasts on Payment Assurance and Relief Package Solutions for Credit Unions (July 13, 2009)
WASHINGTON — NAFCU Services Corporation (www.nafcu.org/nafcuservices) and Securian Financial Group, Inc., NAFCU Services’ preferred partner in providing credit insurance and debt protection solutions to credit unions, recently released two free podcasts explaining new solution sets that enable credit unions to address current needs of members and generate income opportunities. Each podcast features an interview with John Gibbons, national sales director for Securian Financial Group, as he explains the Securian Relief Package and Payment Assurance offerings.
Deluxe, Affinion, and Securian Receive NAFCU Services 2009 Innovation Awards (July 6, 2009)
WASHINGTON —NAFCU Services Corporation today announced the winners of its 2009 Innovation Awards, which recognize excellence and innovation in Preferred Partner solutions for credit unions and enhance their ability to compete in a crowded financial services marketplace.
Securian Financial Group and NAFCU Services Release Podcast on Consumer Debt Attitudes in a Multi-Generational Study (February 12, 2009)
WASHINGTON — NAFCU Services Corporation (www.nafcu.org/nafcuservices) and Securian Financial Group, Inc., NAFCU Services’ preferred partner in providing credit insurance and debt protection solutions to credit unions, recently released a free podcast and study that examines attitudes about debt, how those attitudes vary by generation, and the implications for credit unions.