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January 28, 2014

Securian’s new term life product is easy to use and mobile accessible

MyLife™ Select term life insurance features online application and simplified underwriting

ST. PAUL, Minn.--(BUSINESS WIRE)--Securian’s Minnesota Life introduced a term life insurance product with simplified application and underwriting and customer-friendly digital enrollment.

“MyLife Select provides good value with an intuitive enrollment site that customers can use with their mobile devices,” said Barb Baumann, second vice president, Securian Financial Group. “We also provide an array of convenient direct mail and online marketing services for clients.”

MyLife Select term life insurance offers up to $250,000 of coverage and a level premium for policy terms of up to 20 years. Other benefits include:

  • An accelerated death benefit rider included at no extra cost that provides early payment to insureds diagnosed with terminal illness
  • After the coverage has been in force one year, insureds will have five years (until age 65) to convert the policy to whole life if desired
  • Opportunity to annually renew the policy after the original term expires without additional underwriting until age 85 (premiums will rise annually)

Research conducted by LIMRA, a life insurance trade organization, shows that 41 percent of US adults have no life insurance and it rises to 56 percent for adults age 25 to 45. LIMRA research also shows that 70 percent of customers interested in buying life insurance through their financial institutions look for simple term life products that offer stable, affordable protection throughout the chosen coverage period.

For more information about MyLife Select term insurance, contact Ryan Frantzen, national sales director, Securian Financial Institution Group, at Ryan.Frantzen@securian.com or 651-665-1497. 

About Securian Financial Group

Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, Securian is the holding company parent of a group of companies that offer a broad range of financial services.

DOFU 1-2014 A00313-0114

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Jeff Bakken

Media Relations