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Payment protection

Helping borrowers prepare for the unexpected

Payment protection helps support a borrower’s financial well-being, reduce defaults, and generate non-interest income to enhance your bottom line. This suite of products supports our lending solutions and includes credit insurance and debt protection.

Know the difference – credit insurance vs. debt protection

While functionally these two protection products look the same for your borrowers, there are differences between them to consider for your financial institution.

 Credit insuranceDebt protection
Insurance product  
Direct relationship with Securian Financial  
Loan officer licensing requirement  
Can offer same programs and rates across multiple states  
Flexibility in features and protected events  
Flexibility in fees and compensation  
Can offer after the loan has closed  
computer with online support chat

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Learn more about how you can grow your business and help protect your customers and members.

Contact our sales team

Credit insurance

Insurance that would reduce or pay off a loan should a protected event occur.

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Debt protection

Non-insurance product that cancels all or part of a loan should a protected event occur.

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Reduce risk and create satisfied members

Consumers who purchased payment protection like the safety net it provides.1  

  • 80% of respondents were satisfied with their decision to purchase payment protection.
  • 75% of respondents are likely to purchase the product again, and many would recommend it to others taking out a loan.

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Helped us financially during a challenging time.

William

Freeport, MA

It definitely kept me from losing my truck.

Timothy

Seminole, AL

During my time off for my surgery, paying bills would be more difficult. Securian gave me peace of mind!

Bethany

Hamilton, OH

I have stage 4 cancer and it has been a big relief having this insurance.

Pricilla

Brooktondale, NY

Industry insights and articles

Keeping you informed by providing valuable industry insights is one way we can help support your business growth. Our resources cover the latest financial industry topics and are a great way to build your knowledge.

Browse our insights

1. Securian Financial’s proprietary research study February 2024.

The testimonials provided by Securian Financial’s customers identified in this material were freely given without receiving any compensation.

Payment protection refers to our suite of products that support lending solutions sold through financial institutions.  These products include debt protection and credit insurance.

Debt protection is a contractual liability policy issued to the credit union by Securian Casualty Company, a New York authorized insurer. Minnesota Life Insurance Company acts as the administrator of the credit union's debt protection program. The credit union is independently owned and is not affiliated with Securian Financial.

DOFU 2-2025

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