How Securian Financial’s debt protection sets itself apart
Options that keep you in control
- Plug-and-play - A complete portfolio of standardized debt protection programs that address each loan type and take the guesswork out of program design.
- Custom design – Together, we can design a protection program that fits the individual requirements of your institution and borrowers. Choose one benefit option or all of them, our a-la-cart pricing is designed to fit your specific needs.
When you work with us, you have complete ownership of your debt protection program and the contractual relationship with your borrower. You can choose to administer and assume the risk in connection with your programs or contract with Securian Financial companies to take on program risk and administration.
Know the difference — debt protection verses credit insurance
While functionally these two protection products look the same for your borrowers, debt protection can offer financial institutions the flexibility to design a program that fits the needs of their specific financial institution.
- Debt protection is a non-insurance product
- Borrower doesn’t have a direct relationship with Securian Financial
- No licensing requirements at the loan officer level
- Can have same programs and rates across multiple states
- More flexibility in features and protected events
- More flexibility in fees and compensation
- Involuntary unemployment option for credit unions