Minnesota Life Insurance Company

Minnesota Life Insurance Company is a subsidiary of Securian Financial Group, Inc which was founded in 1880 and based in St. Paul, Minnesota. It provides nationwide financial security to above 13 million people though range of life insurance, investment and retirement products for various financial needs. As per record of financial strength and claims-paying ability it is one of the most respectable and highly rated companies in America. Nationwide clients are protected; more than $1 trillion of life insurance is in force.

Based on the financial condition below are the ratings as of 31 March 2014 given by four independent rating organizations.

  • A.M. Best  ( A+  Superior - 2nd highest of 16 ratings)
  • Fitch  ( AA- Very Strong - 4th highest of 19 ratings)
  • Standard & Poor's ( A+ Strong - 5th highest of 21 ratings)
  • Moody's ( A 23 Excellent- 4th highest of 21 ratings)

Policies/products offered by Minnesota Life Insurance Company

General information on Minnesota life insurance products

I. Group Term Life insurance

Group term life insurance is basically for employees and their families under which for a specific period protection is provided to the insured. if the insured dies during the term then only the benefits will be paid. It’s a base level life insurance protection where death benefit is free of income tax to the beneficiary.

Types

  • Basic Group Term Life – a basic level of insurance, coverage up to $50000 is considered as income tax free benefit to the employee on premium coverage paid by the employers.
  • Supplemental Group Term Life - Depending on his personal and financial situation employee can choose the Amount of insurance. In conjunction with Basic Term Life plan employer offer this insurance.
  • Portable Term Life - This is the supplement life insurance to the employees and their dependent who lose the eligibility under group policy.  . Even after retirement one can continue this life insurance by making direct payment via EFT (electronic fund transfer) to the insurer.

II.    Group Universal Life insurance (GUL)

III.  Variable Group Universal Life insurance (VGUL)

IV.  Accidental Death & Dismemberment

How to claim Minnesota life insurance

Claim process differs from one product with that of another. Necessary claim form will be provided by the Minnesota life. To know more about the new and existing claims, do login to Minnesota life.

Minnesota Life Insurance Company Info

Lines of Insurance:
Long Term Care, Life

States licensed to sell insurance in:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

Type of Insurance Company: Mutual

Name of Parent Company:
Securian Financial Group

Minnesota Life Company Rating: A+

Minnesota Life Company Financial Status:
Assets & Premiums: 2006 Assets: $28+ billion
S&P rating: A- (very strong)
Moody's rating: Aa2 (excellent)
Fitch rating: AA (very strong)

Minnesota Life Company Phone Number & Contact Details

Minnesota Life
Chairman/CEO  Robert L. Senkler
400 Robert Street North
St. Paul, MN 55101-2098
651-665-3500

Where to send complaints:
Minnesota Life Customer Servic
St. Paul, MN 55101-2098
651-665-3500