The company said that the new policy has been designed to provide life insurance protection to the US citizens whose households incomes were between $35,000 – $124,000, annually.
Commenting on the launch of the new product, Securian Financial Group second vice president Bill Gould said that planning for the unexpected loss of a breadwinner is a factor that all families need to consider.
Go deeper with GlobalData
"The Securian-Upromise partnership opens a new channel to underserved households. It provides easy online access to simplified issue, permanent whole life coverage for this large segment of the market," Gould added.
Upromise members who will buy the coverage may also earn rewards that can accumulate and help pay for college expenses or be applied to eligible student loans. For children, the minimum coverage is $10,000, while it is $25,000 for adults.
Securian Financial Group manages Minnesota Life Insurance Company and Securian Life Insurance Company, and offers an array of financial services in the US.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
