What Securan Life Insurance Offers
Securan life insurance provides a range of term and whole‑life policies designed to protect beneficiaries against the financial impact of a policyholder's death. Coverage amounts typically start at $50,000 and can exceed $1 million, depending on underwriting approval and the applicant's health profile. Policies include optional riders such as accelerated death benefits, waiver of premium, and child term coverage, allowing families to customize protection to their specific circumstances.
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Key Policy Types
Securan's portfolio is organized around three core products:
- Term Life: Fixed coverage for a set period (10, 20, or 30 years) with level premiums.
- Whole Life: Permanent protection that builds cash value over time and guarantees a death benefit.
- Universal Life: Flexible permanent insurance where you can adjust death benefits and premium payments while still accruing cash value.
When to Choose Each Type
Term life is cost‑effective for younger families needing coverage during mortgage or child‑raising years. Whole life suits those who want lifelong protection and a forced savings component. Universal life appeals to individuals who expect changing financial needs and prefer premium flexibility.
Pricing Factors
Premiums are calculated from a blend of age, gender, health status, occupation, and lifestyle. Younger, non‑smoking applicants generally receive the lowest rates. Securan also applies a medical underwriting process that may require blood work, a physical exam, or a simplified issue questionnaire for smaller policies. Riders add to the base premium but can be essential for comprehensive coverage.
Benefits and Riders
Beyond the basic death benefit, Securan offers several riders that enhance protection:
| Rider | Purpose | Typical Cost |
|---|---|---|
| Accelerated Death Benefit | Access up to 25% of the death benefit if diagnosed with a terminal illness | 1–2% of base premium |
| Waiver of Premium | Premiums waived if the insured becomes disabled | 0.5–1% of base premium |
| Child Term Rider | Provides $10,000–$25,000 coverage for each child | Flat fee per child |
These riders can be added at purchase or during the policy's life, subject to underwriting approval.
How to Apply
The application process begins online or through an agent. After completing a questionnaire, you'll receive a preliminary quote. If you accept, Securan schedules any required medical exams, reviews the results, and issues a final policy document. Most term policies are issued within two weeks, while permanent policies may take longer due to cash‑value calculations.
Choosing the Right Securan Policy
Start by assessing your financial obligations: mortgage balance, education costs, and income replacement needs. Use those figures to determine an appropriate death benefit. Compare term versus permanent options based on budget and long‑term goals. Finally, evaluate rider needs—if you have a high‑risk occupation, a waiver of premium may be prudent; if you have young children, a child term rider adds inexpensive coverage.
Common Questions
Can I convert a term policy to a permanent one? Yes, Securan offers a conversion option within the first 10 years of most term policies, allowing you to lock in permanent coverage without new medical underwriting.
What happens if I miss a premium payment? For term policies, a grace period of 30 days applies before the policy lapses. Whole and universal life policies may use accumulated cash value to cover missed payments, but prolonged gaps can terminate coverage.
Is Securan financially stable? Securan holds an A‑ (Excellent) rating from major rating agencies, indicating strong ability to meet policyholder obligations.