COVID-19 Underwriting Guidelines Update Effective 01/01/21

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Changes to COVID-19 participation guidelines to be implemented
January 1, 2021

Securian Financial remains focused on delivering high levels of service, helping customers with their insurance needs and maintaining the company’s financial strength. Your support in delivering on this focus has provided valuable insights to best navigate the unpredictable nature of a pandemic while addressing the additional risks it presents.

We are pleased to announce the following changes to the temporary COVID-19 participation guidelines effective January 1, 2021:

  • Expanding the issuance of second-to-die policies when one insured age 75 or younger receives a standard or better mortality evaluation, the other insured must be rated:
    • Table H (300%) or better if insurance age is 50 or younger;
    • Table F (250%) or better if insurance age is 51 through 60;
    • Table D (200%) or better if insurance age is 61 through 70;
    • Table B (150%) or better if insurance age is 71 through 75.
  • Expanding the issuance of SecureCare Universal Life (UL) policies to include applicants assessed Table B (150%) or better.  All others will be postponed until at least March 31, 2021. 

All other participation guidelines, including money not being accepted with new applications and temporary insurance agreements not being available, continue until March 31, 2021. For a full list of the participation guidelines effective January 1 and continuing through March 31, 2021, please see below.

Participation guidelines effective January 1 through March 31, 2021:

SecureCare Universal Life Underwriting

  • Ages 76 and older: new applications will not be accepted.
  • Ages 75 and younger: mortality evaluation will need to be Table B (150%) or better for a SecureCare UL policy to be issued. Applicants who would be rated Table C (175%) or worse will be postponed until at least March 31, 2021.
  • Money will not be accepted with new applications until at least March 31, 2021; and temporary insurance agreements will not be available during this time.

As a mutual holding company, we take a long-term approach that positions us strongly regardless of what happens in the economy. We will continue to actively monitor COVID-19 data and make decisions that enable us to continue to deliver high levels of service, help customers with insurance needs, and maintain the company’s financial strength.

During unprecedented times like these, we are grateful for strong relationships. Thank you for your business as we navigate these challenging times.