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Secure Insights™

Optimize your plans with our proprietary tool

Secure Insights is our proprietary, multi-faceted data analytics solution developed in partnership with LIMRA for group insurance clients.

The tool leverages LIMRA industry data, third-party data and client census data to develop a report that provides employers a deeper understanding of their population, their populations’ needs, and the products and services we offer.

Secure Insights provides a holistic view to identify opportunities, set goals, make decisions and execute changes to help achieve the plan’s full potential.

Continue to innovate with enhanced reporting

New enhancements have been made to our Secure Insights report — which already evaluates employees’ readiness in the event of death — to show employees’ overall preparedness to financially protect themselves and their families in the event of an accident, critical illness or hospital stay. 

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Key featured insights

The following information highlights critical illness coverage within the report; however, we also create reports for our accident and hospital indemnity products.

Overall client score

The supplemental health Secure Insights score represents how financially prepared employees are in the event of an accident, critical illness or hospital stay.

To reach the score, we subtract existing resources from the financial need and come up a gap amount.

The score is calculated for each individual on a client census, then aggregated to a combined, weighted average score.

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A Secure Insights Score of 49 A gauge moves up from 0 to 49 to reveal the existing resources, indicated as good on the scale. Leaving a financial needs gap of 51 percent. EXISTING RESOURCES Secure Insights Score: 0 G O O D B E T T E R B E S T G A P FINANCIAL NEED

Population overview

Understanding employee population is key. The population overview represents the demographic breakdown of a client’s population that builds a foundation for the insights in the rest of the report.

Marital status, the presence of dependent children and salary are critical variables when calculating need — and therefore have a significant impact on the analysis.

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Employee population marriage demographics A bar chart showing that 58 percent are married. 0 % are married

Employee population children demographics A bar chart showing that 47 percent have dependent children. 0 % have dependent children

*Based on census data as of 01/01/2020 and adjusted to reflect US population data for greater accuracy. This adjustment is applied to all spouse and/or dependent information throughout the report due to data quality of the census file.

Employee population gender demographics A pie chart showing that the split is 72 percent female and 28 percent male. 28 72 % % male female

Supplemental health product enrollment

This insight highlights the enrollment of supplemental health plans — in this example, critical illness insurance.

It can help the client understand those enrolled by their family status and the level (accident or hospital indemnity) or dollar amount (critical illness) and shows the client-specific plan design.

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Percent of enrolled employees by family status

Percent of enrolled employees by family status The bar chart shows the breakdown of plan elections for the 2,661 employees. The first bar shows 43.3% are employee only. The second bar shows 17% are employee and spouse. The third bar shows 10.5% are employee and child. And the final bar shows 29.2% are employee and family. 80% 70% 60% 50% 40% 30% 20% 10% 43.3%1,152 of 2,661 17.0%452 of 2,661 10.5%279 of 2,661 29.2%778 of 2,661 Employee Only Employee & Spouse Employee & Child Employee & Family PLAN ELECTION

Non-participant data

Secure Insights can also help you better understand who is not participating in employer plans.

This shows the demographics of non-participants, specifically marital status and dependents that can have an impact on their need.

Based on what we know about participants, this helps illustrate who may have a need so we can better educate them about the benefits of supplemental health with targeted communication.

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Percent of employees not enrolled by gender

Percent of employees not enrolled by gender 78.4% of the 1,655 females are not enrolled. Whereas 73.8% of the 8,780 males are not enrolled. Female Male 0.0 % 1,298 of 1,655 0.0 % 6,476 of 8,780

Percent of employees not enrolled by marital status

Percent of employees not enrolled by marital status Of the 1,655 not enrolled, 70.6% are not married. 0.0 % 0 of 1,655

Percent of employees not enrolled with dependent children

Percent of employees not enrolled with dependent children 1,300 of the 1,918 not enrolled, have dependent children, which is 67.8% of employees. 0.0 % 1,300 of 1,918

Average employee supplemental health needs

We chose common, simplified claim scenarios to assess need — in this case, the common medical event is a cancer diagnosis.

Medical costs such as deductibles and coinsurance are considered, as are non-medical costs associated with transportation, food and housing.

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Based on the likelihood of an employee incurring medical expenses due to a cancer diagnosis

Health needs based on the likelihood of an employee incurring medical expenses due to a cancer diagnosis Chart showing the average insurance needs by family status. Employees with dependents have $13,866 average out-of-pocket medical expenses. Which consists of the deductible and coinsurance. This same group also shows an average non-medical expenses of $34,150. Compared to employees with dependents who have average out-of-pocket medical expenses of $6,668. Against $22,995 of average non-medical expenses. $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 Employee with dependents $34,150 AVERAGE INSURANCE NEEDS FAMILY STATUS Employee without dependents $22,995 Average out-of-pocket medical expenses (deductible & coinsurances) Average non-medical expenses $13,866 $6,668

Supplemental health insurance gaps

This insight shows the gaps for the most common claim event for critical illness insurance: a cancer diagnosis. The needs and resources are calculated for this example event.

In this case, 82% of the population would have a financial gap in the event of a cancer diagnosis.  

The space between the average existing resources (vertical bars) and the average product need (horizontal lines) visually depicts the gap in the graph. By adding supplemental health products to your benefits program, you can help decrease this gap for employees.

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Based on the likelihood of an employee incurring medical expenses due to a cancer diagnosis

Insurance needs based on the likelihood of an employee incurring medical expenses due to a cancer diagnosis Chart showing average insurance needs by family status. Employees with dependents have $18,168 average existing resources. This same group also shows an average critical illness insurance need of $34,150. Compared to employees with dependents who have average existing resources of $18,162. Against $22,995 of average critical illness insurance needs. $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 Employee with dependents $34,150 AVERAGE INSURANCE NEEDS FAMILY STATUS Employee without dependents $22,995 Average existing resources Average critical illness insurance need $18,168 $18,162

Supplemental health insurance gap demographics

Secure Insights groups employees with similar demographic characteristics into segments, creating a persona for each identified segment to help clients better understand the portions of their population with the largest gap.

This persona allows us to tailor product solutions, including plan maximums, that will better fit with the identified segments.

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Existing resources gap Chart showing the average gap of $23,653, between the average existing resources of $5,795. Versus an average need of $29,448. Existing resources Average$5,795 Averageneed$29,448 Average gap$23,653

Insurance products are issued by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not an authorized New York insurer and does not do insurance business in New York. Both companies are headquartered in Saint Paul, MN.  Product availability and features may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues.

Securities, variable insurance products and investment advisory services offered through Securian Financial Services, Inc., registered investment advisor, member FINRA/SIPC.

This is a general communication for informational and educational purposes. The information is not designed, or intended, to be applicable to any person’s individual circumstances. It should not be considered investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action. If you are seeking investment advice or recommendations, please contact your financial professional.

Securian Financial is the marketing name for Securian Financial Group, Inc., and its affiliates. Minnesota Life Insurance Company and Securian Life Insurance Company are affiliates of Securian Financial Group, Inc.

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