Securian Financial Group, Inc.

Credit Insurance and Debt Protection

Silver Partner

2013 NAFCU Services Innovation Award Winner

Your success is at the heart of all we do.

That’s why so many credit unions count on Securian Financial for the long term. We’re always looking for the right ways to help you achieve your goals and protect your members. Our commitment to the market and the people we serve is unwavering.

From turnkey and custom design, to program implementation and ongoing support, Securian Financial and its affiliates have been serving credit unions for over half a century. This means you get the relevant, compliant solutions your customers will value, today and always.

We are the exclusive NAFCU Services Corporation "Preferred Partner" for credit insurance and debt protection products. We’ve also earned some of the highest ratings in the country for our financial strength and claims paying abilities.

Our dedicated team of consultative experts provide guidance and help you navigate the ever-changing regulatory and market environment. We add value, while keeping an on eye on the bottom line. And doing business together is easy – we customize programs and product options to meet your unique objectives.

We stand behind our credit insurance and debt protection products. Every individual and family we serve is important to us, and we’re committed to providing caring and compassionate service during the most difficult and stressful of times.

 

Products and Services

  • Securian Financial offers traditional credit life and disability insurance programs, as well as an enhanced selection of new features to best meet your income and member/asset protection needs.

    We offer 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

  • Securian Financial was one of the first providers to offer consumer debt protection programs, and we continue to pioneer new applications for this flexible protection.

    We’re committed to collaborating with your credit union to design and implement successful programs. And we’re 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.

    We offer a selection of debt protection programs for all of your lending portfolios:

    • ConsumerSafe Debt Protection for personal and consumer loans.
    • ConsumerSafe Plus Debt Protection for personal, consumer and home equity loans.
    • EquitySafe Debt Protection for home equity loans and HELOCs.
    • HomeSafe Debt Protection for first mortgage loans.

     

  • Debt Protection Auto Expense provides credit union members with additional security in the event of a major unexpected auto expense. The auto insurance deductible benefit cancels one loan payment up to $500 in the event of an accident where a deductible payment is made. This coverage allows the borrower to use dollars that would have been used for a loan payment instead for the auto expense, keeping a loan current in a circumstance where there might otherwise be an issue. In addition, the solution also generates revenue for the credit union. The coverage is available for both new and used automobiles.