Group life and AD&D insurance products bring valuable protection to your benefits program, providing your employees with financial support for their loved ones if the unexpected occurs.
Your plans tailored to your group
Based on our nearly 100 years of experience in the group life market, we will recommend solutions to enhance your plans and simplify your processes.
Our group life insurance and accidental death and dismemberment products are customizable for your organization, allowing you to select features like guaranteed coverage, dependent coverage, waiver of premium for disabled employees and continuation options including portability and conversion.
We offer an array of funding arrangements and your organization may choose to offer any of our products on an employer-paid or employee-paid basis.
Helping to reduce your workload
Our administration and record-keeping solutions – like management of your employees’ beneficiary records and coverage amounts – are designed to reduce the burden on your benefits staff.
We also coordinate with many third-party administrators (TPAs) and all major disability carriers to offer seamless integration during enrollment and at claims time.
Life insurance products
Group term life
Our most popular and affordable product, group term life insurance is available as an employer-provided benefit as well as an employee-paid voluntary benefit.
Under the federal tax code, employer-paid coverage amounts up to $50,000 are generally income tax-free to employees.
Group universal life
Group universal life (GUL) provides employees with permanent1 life insurance protection and the potential for tax-deferred cash accumulation with a fixed rate of return.
Employees may choose to pay only the cost of insurance or to make additional contributions to a cash value account that can be accessed through loans or withdrawals.2
Employees can continue their GUL coverage when they change jobs or retire.
Variable group universal life
Our variable group universal life (VGUL) product offers employees permanent1 life insurance protection and the potential to achieve cash value growth through a number of subaccount investment options.
Employees can personalize their subaccount investments based on their time horizon and risk tolerance to help work toward personal financial objectives.3
Employees may also take advantage of our guaranteed account, which provides a fixed rate of return on invested funds.4
VGUL coverage may be continued if an employee leaves your company or is no longer eligible.
Group accidental death products
Group accidental death and dismemberment (AD&D)
If an employee dies or loses the ability to use a body part as the result of a covered accident, AD&D provides additional benefits for their loved ones. An affordable protection benefit, AD&D can be combined with a life insurance product, offered as a stand-alone product, or both.
Our product is customizable with features such as felonious assault coverage or survivor education benefits.
Business travel accident (BTA)
Available as a rider to a term life policy or as an additional AD&D benefit, business travel accident provides a lump-sum payment if an insured employee dies or is injured from a covered accident while traveling for business.
Learn more about our products
Get more information about how Securian can customize group life insurance or AD&D products to meet your organization’s needs. Contact our group sales team today.
1 Subject to a maximum age, which varies by policy.
2 Loans and withdrawals will reduce both the policy cash value and death benefit.
3 Investments will fluctuate and when redeemed, may be worth more or less than originally invested.
4 The guarantees for the guaranteed account are based solely on the financial strength and claims-paying ability of the issuing insurance company, which are important; however, they do not have any bearing on the performance of the investment options.
This information is a general discussion of the relevant federal tax laws. It is not intended for, nor can it be used by any taxpayer for the purpose of avoiding federal tax penalties. This information is provided to support the promotion or marketing of ideas that may benefit a taxpayer. Taxpayers should seek the advice of their own tax and legal advisors regarding any tax and legal issues applicable to their specific circumstances.
Insurance products are underwritten by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer. Both companies are affiliates of Securian Financial Group, Inc. and 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.
VGUL is distributed through Securian Financial Services, Inc., Member FINRA/SIPC. 400 Robert Street North, St. Paul, MN 55101, 1-888-237-1838.
You should consider the investment objectives, risks, charges and expenses of a portfolio and the variable insurance product carefully before investing. The portfolio and variable insurance product prospectuses contain this and other information. You may obtain a copy of the prospectus from your representative. Please read the prospectus carefully before investing.
The guarantees for the Guaranteed Account are based on the financial strength and claims-paying ability of Minnesota Life Insurance Company and Securian Life Insurance Company, which are important; however, they do not have any bearing on the performance of the variable subaccount. Investments in the variable subaccounts will fluctuate and the cash value available for loans, withdrawals or redemption may be worth more or less than when originally invested. Since it is primarily an insurance product, VGUL does contain fees and expenses such as management fees, fund expenses, distribution fees and mortality expense charges. The variable investment options are subject to market risk, including loss of principal.