Securian Financial Group, Inc.

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Why are ratings important in selecting a partner for credit insurance and debt protection? (Podcast)

The ratings of credit insurance and debt protection providers give valuable insight to credit unions that are in the market for a new insurance provider or are evaluating their current insurance provider. In this podcast, we provide details on how credit insurance and debt protection providers are rated and what these evaluations mean for credit unions.

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2011 Innovation Award Seal

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 and Debt Protection

Major Auto Expense and Auto Insurance Deductible
The Major Auto Expense benefit cancels one loan payment up to $500 when a borrower has a major auto expense of at least $500. The Auto Insurance Deductible benefit cancels one loan payment up to $500 in the event of an accident where a deductible payment is made. These auto benefits must be bundled with new or existing debt protection programs that offer life, disability, or involuntary unemployment benefits. Product Details>>

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.

News

  • Debt: The Inheritance No One Wants (Article) (February 27, 2014)
    Nearly one-third of Americans surveyed by Securian Financial Group say they haven’t thought about what would happen to their debt if they – or their cosigners – were to pass away unexpectedly. Fewer than 13 percent say they have taken steps to protect themselves from the sudden loss of a borrower.
  • Securian Introduces New Debt Protection Auto Benefits (March 31, 2013)
    Securian Financial Group introduced Major Auto Expense and Auto Insurance Deductible debt protection benefits as value-adds for new and existing debt protection programs offered by financial institutions. The new Securian auto benefits must be bundled with new or existing debt protection programs that offer life, disability, or involuntary unemployment benefits.
  • Less Than 20% of Boomers Know How and When They’ll Claim Social Security
    ST. PAUL, Minn.--(BUSINESS WIRE)--Do more baby boomers now see Social Security as an important source of retirement income, prompting them to make plans for maximizing their benefits? “Our survey found that only 18 percent of baby boomers are making decisions now about how they’ll claim Social Security,” said Michelle Hall, manager, Market Research. 
  • 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.

Contact Securian Financial Group, Inc.

Karen Thompson | 651-665-3695
www.securian.com
karen.thompson@securian.com