Securian Financial is not a debt collection agency; it is a Saint Paul, Minnesota, life insurance and debt protection insurance company that has operated since 1880. But if someone claims to be from Securian and is pursuing you for a debt, or if you purchased Securian debt protection and a collector is still calling, your situation may involve illegal collection conduct by a third party. If debt collection calls are the problem, call +1-844-638-1122 for a free case review.
Key Takeaways
- Securian Financial Group, Inc. is a Saint Paul, Minnesota life insurance and financial services holding company, not a third-party debt collector. Its subsidiary, Minnesota Life Insurance Company, is the entity behind most consumer policy and claim disputes.
- Securian is not BBB-accredited and has had 42 complaints in three years, with 14 in the last 12 months. Consumer reviews average 1.2 out of 5 stars across 20 published ratings.
- BBB complaints allege Securian delayed life insurance payouts for months, denied disability claims from VA-verified 100% permanently disabled veterans, paid benefits to the wrong person, and repeatedly hung up on customers calling to resolve disputes.
- If an actual third-party debt collector is calling you and falsely claiming to be Securian, or if a collector is pursuing a debt your Securian coverage should have canceled, that conduct may violate the FDCPA.
- Securian has faced class action litigation over a structured cash flow funding scheme (2018) and an ERISA-related accidental death claim denial pattern documented by consumer attorneys.
- If you are receiving collection calls from any agency, you may recover up to $1,000 per FDCPA violation, plus attorney fees paid by the collector.
- The Wood Firm PLLC handles collection harassment cases on contingency — no upfront fees.
Free Case Review: +1-844-638-1122
Who Is Securian Financial?
Securian Financial Group, Inc. is a mutual holding company headquartered in Saint Paul, Minnesota, founded in 1880. Its primary subsidiary, Minnesota Life Insurance Company, provides life insurance, annuities, and credit protection insurance products sold through banks, credit unions, and auto lenders nationwide. Securian also operates retirement and investment services under its broader financial services platform.
The company’s credit protection and debt protection products are the most common source of consumer confusion. When a bank or lender bundles “debt protection” or “credit life and disability insurance” into a loan, Securian is frequently the underwriter.
Consumers who fall ill, lose a job, or experience a covered disability can file a claim through Securian’s “My Coverage” portal to suspend or cancel loan payments.
That function is the opposite of debt collection. Securian pays lenders on behalf of consumers — it does not pursue consumers for third-party debts. In our practice, when a consumer comes to us saying, “Securian is calling about a debt,” the first question we ask is whether the call is actually from Securian or from a third-party collector who may be misrepresenting the company they work for.
FDCPA § 1692e prohibits debt collectors from falsely implying they represent a financial institution or insurance company. A misrepresentation of that kind, on a recorded line, is a documentable violation.
- Also Known As: Minnesota Life Insurance Company, Securian Financial Group Inc, Securian Canada
- Headquarters: 400 Robert Street North, Saint Paul, MN 55101
- Phone: 866-293-6047 | (866) 293-6047 | +1-866-293-6047 | 8662936047
- Website: securian.com
- BBB Profile: Securian Financial BBB listing
- Financial Ratings: AM Best A+, S&P AA-, Moody’s Aa1
Phone Numbers Securian Financial Uses
If a number matching Securian’s published lines appeared on your caller ID, the call is likely about a claim, a policy document request, or a premium billing issue, not debt collection.
Securian’s published contact number is: 866-293-6047 (866) 293-6047 +1-866-293-6047 8662936047 If a caller claims to represent Securian but uses a different number, uses aggressive collection language, demands immediate payment via wire or gift card, or refuses to provide written debt validation, that caller is not acting as Securian.
Document the number immediately. Legitimate Securian contact is about processing a claim you initiated or resolving a policy question. According to BBB complaint records, Securian representatives sometimes hang up on consumers mid-call. An aggressive third-party caller is a different problem with a different legal remedy.
Why Is Securian Financial Contacting You
Securian Financial is contacting you because of a policy, claim, or premium billing issue, not to collect a third-party debt.
Common reasons for Securian contact include a pending life insurance claim requiring additional documentation, a lapsed premium on a credit protection or life insurance policy, a beneficiary notification requiring action, or an unpaid premium being referred internally for collection. The confusion happens because Securian’s debt protection products sit directly inside the loan relationship.
A consumer who bought debt protection through their auto lender, then fell behind on payments, may receive calls from both Securian (about a pending claim) and from an actual third-party collector (about the past-due loan balance).
Those are different entities with different legal obligations. A September 2025 BBB complaint describes a family that received a letter from Securian claiming a deceased family member owed $381 and demanding repayment. If a third-party collector sent that letter using Securian’s name without authorization, that is impersonation under FDCPA § 1692e(14).
Is Securian Financial a Scam
Securian Financial is a real, licensed insurance company operating since 1880, with AM Best A+ and Moody’s Aa1 financial strength ratings. It is not a scam operation. Licensed does not mean every practice is consumer-friendly.
BBB reviews and complaints document a pattern of conduct that consumers have described as obstructive: a June 2025 reviewer reported that Securian paid a life insurance benefit to the wrong person, then told the rightful beneficiary to get a lawyer when they called to report the error.
A March 2026 complaint describes a family waiting three months for a life insurance payout, receiving repeated promises of five to seven business days that were never honored. A January 2026 reviewer described receiving a solicitation for an insurance policy that allegedly no longer existed, eight years after the insured’s death.
Securian is not a debt collection scam. But if someone contacts you claiming to be Securian and uses collection tactics, threats, or demands for personal financial information over the phone without any written notice, treat that as a potential impersonation or fraud attempt.
Has Securian Financial Been Sued
Yes. Securian Financial and its Minnesota Life subsidiary have faced multiple federal lawsuits and regulatory actions.
- Harrison v. Securian Financial Group (2018), class action, alleging Securian advised life insurance policyholders to fund policies through Future Income Payments LLC, a structured cash flow scheme that allegedly caused policyholders significant financial harm.
- Standard Insurance Co. v. Securian Financial Group (2025), filed in New York over a $50 million earn-out dispute arising from a 2022 corporate acquisition. See ClassAction.org coverage.
- Retained asset settlements (2012), in which Securian and Minnesota Life were included in multi-state regulatory examinations and fines over how life insurance proceeds were paid to beneficiaries.
- ERISA-based AD&D claim denial litigation, documented by consumer attorneys at Dorian Law, involving Securian’s pattern of classifying accidental deaths as natural causes to reduce benefit payouts.
- Powell v. Minnesota Life Insurance (2023), an ERISA lawsuit regarding denied insurance benefits, which the 8th Circuit ultimately dismissed. See related Minnesota district court filing.
When a consumer comes to us after a Securian claim denial, we review whether the denial letter misrepresented the coverage terms or applied an exclusion inconsistently with the policy language. A BBB review from August 2025 alleges that Securian classified a fatal fall as a natural death to avoid paying an accidental death benefit. That classification, if unsupported by the policy definition of accidental death, may support an ERISA bad-faith or state insurance code claim.
Is Securian Financial Banned by the FTC
No. Securian Financial has not been banned by the FTC and is not subject to an FTC cease-and-desist order. It is a licensed insurance company regulated primarily by state insurance departments, not the FTC.
Because Securian is not a traditional debt collector, the FTC’s debt collection enforcement authority does not directly govern most of its consumer interactions. State insurance regulators in Minnesota and other states where it writes policies have primary oversight.
Consumers with unresolved Securian disputes can file complaints with the CFPB, the FTC, and their state’s insurance commissioner. Minnesota’s Department of Commerce handles insurance complaints for Minnesota Life.
What to Do If an Actual Debt Collector Is Calling You
If you searched for “Securian debt collection” because someone is calling you aggressively about a debt, you are likely dealing with a third-party collection agency that is not Securian. Actual debt collectors are regulated by the FDCPA and must follow strict rules about when and how they contact you. Identify who is actually calling you.
Demand the caller’s company name, mailing address, and license number. Agencies such as ARM Solutions, Prince Parker and Associates, Global Resolution Center, Titan Revenue Solutions, and Jefferson Capital Systems are among the collectors who contact consumers.
Know the number one rule when a debt collector calls, and see our list of collection agencies to help identify who is contacting you. If the collector uses abusive language, calls outside permitted hours, contacts you at work after being told to stop, or misrepresents who they are, those are FDCPA violations.
Document every call with date, time, number, and what was said. Then call +1-844-638-1122. The Wood Firm PLLC handles collection harassment cases on contingency — you pay nothing unless we recover on your behalf. For guidance on fighting collection harassment, see our resource on how to fight collection agency harassment.
How The Wood Firm PLLC Can Help With Your Situation
Two situations with Securian may involve The Wood Firm PLLC. First, if a third-party debt collector is calling you while falsely claiming to represent Securian or a bank associated with a Securian policy, that misrepresentation is an FDCPA violation under 15 U.S.C. § 1692e.
Second, if you purchased Securian debt protection on a loan and a collector is still pursuing the debt after that coverage should have applied, we examine whether the collector’s continued pursuit violates the terms of the underlying coverage arrangement or a state insurance regulation.
The Wood Firm PLLC handles FDCPA and FCRA cases on a contingency basis. You pay nothing up front. If a collector violates federal law, they pay our fees under the statute’s fee-shifting provision. The firm represents consumers exclusively and has never represented a creditor or collector. To start a free review of your situation, call +1-844-638-1122.
If a collector is calling you aggressively and you are not sure who they really are or whether your debt protection covers the account, visit our contact page or call +1-844-638-1122 for a free case review. The Wood Firm PLLC handles these cases on contingency — if they violated federal law, they pay our fees.
Your Next Step If You Are Dealing With Debt Collection Calls
Start by identifying the exact company calling you. Ask every caller for their company name, mailing address, and the name of the original creditor. Write it down. If a caller refuses to identify themselves or uses aggressive language, note the date, time, and number.
If you have Securian debt protection on the account they are calling about, pull your policy documents and check whether the covered event that triggered your situation falls within the terms. If coverage applies and a collector is still pursuing you, that creates a dispute worth examining legally.
Send a written validation request by certified mail within 30 days of the first contact from any collector. Call +1-844-638-1122 for a free review. See our FAQ page for answers on how the FDCPA applies to your situation.
Jeff Wood represents consumers exclusively, never creditors or collectors. He holds federal court admissions across 9 districts, including all courts of AR, CO, NM, and TX. He practices from Little Rock, AR.
Frequently Asked Questions
Is Securian Financial a debt collection agency
No. Securian Financial is a life insurance and financial services holding company, not a third-party debt collector. Its subsidiary Minnesota Life Insurance Company underwrites life insurance, annuities, and credit protection products. If a caller claims to be from Securian and uses aggressive collection tactics, the caller is either a third-party collector misrepresenting themselves or a scammer.
Why is someone claiming to be from Securian calling me about a debt
If the caller is aggressive, demands immediate payment, or refuses to provide written validation, they are not acting as Securian. Real Securian contact relates to claims you initiated or policy documentation requests. Demand the caller’s company name, address, and debt validation in writing before responding to any payment request.
What does Securian’s debt protection actually cover
Securian’s credit protection products, sold through banks and lenders, are designed to cancel or suspend loan payments during covered life events such as disability, involuntary unemployment, or death. If you purchased this coverage and your claim was denied, you have rights under both the insurance policy terms and, depending on how the denial was handled, potentially under state insurance regulations.
Can I sue a debt collector who falsely claims to be from Securian
Yes. The FDCPA prohibits collectors from falsely implying they represent a financial institution or insurance company under 15 U.S.C. § 1692e(14). If a third-party collector used Securian’s name to mislead you, that misrepresentation may entitle you to up to $1,000 in statutory damages per violation plus attorney fees.
What are the most common complaints against Securian Financial
BBB complaints and consumer reviews allege delayed life insurance payouts, denied disability claims despite VA documentation, benefits paid to the wrong beneficiary, and representatives hanging up on customers during dispute calls. These are insurance administration issues, not debt collection harassment.
Is Securian Financial BBB-accredited
No. Securian Financial Group is not BBB-accredited. The company has 42 BBB complaints in the last three years, with 14 filed in the past 12 months. Consumer reviews average 1.2 out of 5 stars across 20 published ratings on the BBB platform.
What should I do if a debt collector is calling me, and I have Securian coverage on the account?
Pull your policy documents and verify whether the covered event applies to the debt in question. File your claim through Securian’s My Coverage portal if you have not already done so. If a collector continues pursuing you after coverage should have applied, send written validation and contact a consumer protection attorney. That ongoing collection may be unlawful.
