Securian Financial Group is the NSC preferred partner for credit life and disability insurance.

Credit insurance: A flexible solution for today's needs

Experts recommend that consumers carry an amount of life insurance equal to five to seven times their annual salary. Yet many consumers are uninsured or underinsured.

For those fortunate enough to receive disability insurance through their employer, it may not be enough to cover monthly expenses. Likewise, while Social Security provides long-term benefits, these benefits do not begin for six months and are capped at a portion of normal take-home pay.

Credit insurance is protection for a very real need. Offering an economical way for your borrowers to purchase peace of mind, credit insurance can supplement existing life and disability insurance or be an option for those without coverage.

This useful insurance product also meets the needs of today’s financial institutions. You are looking for an insurance program that fits the unique needs of your borrowers and is easy to administer. Credit insurance offers the flexibility you’re looking for, while providing you with an additional source of fee income.

Securian's Payment Protection Credit Insurance programs

Securian’s approach to credit insurance sets us apart in the industry. Our superior product design and strong commitment to service results in a program customized specifically to work for you and your borrowers.

We have the experience to know the important design considerations contributing to the success of our Payment Protection Credit Insurance programs. These drivers to success are the basis for all of our solutions.

From pricing to eligibility requirements and product features, our programs are built to be your solution. Because we partner with you to create a program down to the smallest detail, you can be assured the design will fit even your most unique business needs.

This insurance is underwritten by Minnesota Life Insurance Company, an insurance company subsidiary of Securian Financial Group, Inc. Minnesota Life is highly rated by the major independent rating agencies that analyze the financial soundness and claims-paying ability of insurance companies. For more information about the rating agencies and to see where Minnesota Life’s rating ranks relative to other ratings, please visit www.minnesotalife.com/about/financials.asp.

Enhancing traditional credit insurance

Securian offers an enhanced version of traditional credit life and credit disability. Features include truncated coverage, critical period disability, shared disability, accidental dismemberment and terminal illness.

• Credit life insurance is tied to a borrower's personal loan and reduces or pays off the insured balance on his loan if he dies.
• Credit disability insurance is also tied to a borrower's personal loan and will make loan payments (up to the contract limit) if he becomes disabled and is unable to work.
• Joint credit life and credit disability insurance protects both a borrower and co-borrower if both are named on the loan application.
• Truncated coverage provides protection for a term of insurance that is less than the term of the insured loan (e.g., offering coverage for the first 10 years of a 15-year loan).
• Critical period disability provides for a disability benefit limited to a specified maximum number of monthly payments (e.g., a maximum benefit 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 (e.g., 50 percent of the monthly disability benefit would be payable if either borrower becomes disabled; 100 percent of the benefit would be paid if both borrowers are disabled at the same time).
• Accidental dismemberment pays the loan balance (subject tot the plan maximum) in the event of a severed hand or foot; or permanent loss of sight in an eye.
• Terminal illness pays the loan balance (subject to the plan maximum) in the event of a sickness or accidental injury which is reasonably expected to result in death within six months.

Certain limitations and exclusions may apply to this coverage. View our consumer disclosures.

» Contact us or call an Allied Solutions representative to craft a debt protection program that is thoughtfully designed with long-term impacts to your bottom line.

Why Payment Protection Credit Insurance?

Credit Life Product Fact Sheet

Online consumer Payment Protection brochure which includes credit insurance payment calculator. We can help you set up a link to the online brochure from your web site. (If desired, your borrowers will still think they are on your site.)

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