Securian: Product updates to SecureCare Universal Life


Securian Financial is committed to building secure tomorrows by doing the right thing today. To deliver on this promise and in response to the historically low interest rate environment, Securian Financial will implement the following product updates to SecureCare in all Compact states1 and South Dakota on July 18, 2020. These updates will be implemented in other states as they are approved.

Please note: these changes impact new business only, there are no changes to in-force policies. There is no change to the product structure, contract language, forms, compensation or types of benefits provided.

Pricing Update

Given the extremely low interest rate environment and historic volatility in the markets, increasing premiums is a necessary step to ensure policyholders are protected and to maintain the long-term vitality of the product. The pricing updates were carefully selected to ensure SecureCare remains highly competitive in the linked-benefit space.

For new business only, expect premiums to increase an average of:

  • Single-pay: 13.5%
  • 5- and 7-pay: 10.5%
  • 10- and 15-pay: 7%

Payment Durations Extended to age 80

Securian Financial is dedicated to providing your business and the people we serve together with flexible and practical solutions for long-term care, which is why the maximum payment age is being increased from 75 to 80 years old. Please note: due to COVID-19, SecureCare policies are only being issued to applicants age 70 and younger until at least September 15, 2020.

Premium duration
Current issue age limit
New issue age limit
Single 702 702
5-pay 70 702
7-pay 68 703
10-pay 65 70

Ultimately, Securian Financial’s historical approach to smart growth and strong enterprise risk management keeps us well-positioned to manage these uncertain times and remain a top competitor in the linked-benefit space.

Key Dates

  • Monday, July 6, 2020: illustration software will be updated to reflect new pricing.
  • Friday, July 17, 2020: applications must be signed, in good order and received by Securian Financial’s home office or submitted via eApp by 3 p.m. CT to receive the old rates.
  • Saturday, July 18, 2020: SecureCare Universal Life’s new pricing and extension of payments to age 80 will be implemented in the Compact states1 and South Dakota.


1. All states except AZ, CA, CT, DE, DC, FL, HI, IN, MT, NJ, ND, NY, SD
2. Without COVID-19 guidelines in place, new issue age limit would be age 75
3. Without COVID-19 guidelines in place, new issue age limit would be age 73