Securian Financial Launches Single Premium Term Life Insurance Product for Finance Company Market
Securian Financial has launched Access Term Life, a single premium term life insurance product developed for distribution through consumer finance companies.
- Securian Financial has launched Access Term Life, a single premium term life insurance product developed for distribution through consumer finance companies.
- Access Term Life will be offered to finance company customers at the point of sale during loan closing.
- The product complements existing Securian Financial credit insurance coverages offered by finance companies that provide loan protection in the event of death, disability and unemployment.
- “For finance companies, Access Term Life offers an additional source of non-interest income and the chance to differentiate themselves in the market by being among the first finance companies to offer term life insurance to underinsured customers.”
According to the 2023 Life Insurance Marketing and Research Association (LIMRA) Insurance Barometer Study , 101 million U.S. adults (7 in 10) reported needing life insurance, with 27 million reporting being underinsured and 74 million reporting having no life insurance at all.