Before you cancel Securian life insurance, work out whether you hold an individual policy or group coverage through an employer, because the two are ended in different places. An individual policy is cancelled by sending the issuing insurer named on your contract, Minnesota Life Insurance Company or Securian Life Insurance Company, a signed and dated written request naming your policy number and the date you want coverage to end. Employer group coverage is normally dropped through your employer benefits system instead.
Securian Financial is headquartered in St. Paul, Minnesota, and states that its insurance products are issued by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer.
Whether you can cancel this yourself depends on how you got it
Most cancellation guides assume one path to the exit. Securian coverage reaches people three different ways, and each one ends somewhere else. An individual policy bought through a financial professional is handled by the insurer, and a signed written request is the right step. Employer sponsored group life is a different thing entirely. You elected it at work, the premium comes out of your pay, and you generally do not cancel it by writing to the insurer at all. You drop it inside your employer benefits system, and many plans only allow a change at open enrollment or after a qualifying life event. Securian group insurance accounts are reached through its LifeBenefits site, but the election itself lives with your plan. The third route is coverage sold through a bank, credit union, or finance company. Securian is direct about that one: it says it does not service that coverage, and points customers to the contact information on their current statement. Write to the wrong place and nothing happens for weeks. Worth knowing before you write anything: the brand is Securian Financial, but the insurer named in your contract is Minnesota Life Insurance Company or Securian Life Insurance Company. Use the contract name.
How to cancel, step by step
- Find your policy number. It is on the policy itself and on any statement. Work from your own documents rather than from a letter you were not expecting.
- Put the request in writing. Sign and date it, name the policy number, and state the exact date you want coverage to end. A phone call alone leaves you nothing to point at later.
- Say if you are inside the free-look window. If the policy is new, your state may entitle you to a full refund. Make that request explicit rather than assuming it is applied.
- Ask for written confirmation. You want the termination date and, if there is cash value, the amount being released. Keep it.
- Stop the payment last, not first. Only once the insurer has confirmed the policy has ended. Stopping the draft first creates a lapse rather than a cancellation, which is messier and can cost you the cash value.
What to check before you send it
These are the things people most often wish they had looked at first. None of them are reasons not to cancel. They are the difference between a decision and a regret.
- Which of the three channels your coverage came through. Individual policies, employer group coverage, and coverage sold through a bank, credit union, or finance company are handled in three different places. Your statement or enrollment notice will point to one of them. Starting in the wrong place is the most common reason a cancellation request goes nowhere for weeks.
- The insurer named on the contract, not the brand on the mail. Look for Minnesota Life Insurance Company or Securian Life Insurance Company on your declarations page or certificate. Use that legal name and your policy or certificate number on any written request so it reaches the right file the first time.
- Whether a group plan will even let you drop it right now. Employer coverage is often tied to open enrollment or a qualifying life event such as a marriage, a birth, or a change in employment. Ask your benefits administrator what your plan allows and when the change would take effect on your paycheck.
- What conversion or portability your group certificate offers. Group life commonly includes a right to convert to an individual policy, and sometimes to take the coverage with you when employment ends, usually within a short window after coverage stops. Read your certificate for that window before you let the coverage go, because it closes quickly.
- Whether supplemental amounts required evidence of insurability. Supplemental or elected amounts above the basic benefit often required health information before they took effect. Dropping them is easy. Getting them back later can mean answering health questions again, and approval is not guaranteed.
- Cash value and any loan balance on an individual policy. If you hold whole life or universal life, your statement shows the cash surrender value and any outstanding loan against it. A loan reduces what is actually paid out, and any amount you receive above the premiums you paid can be taxable.
When cancelling is the right answer
Cancelling is a reasonable decision when the coverage no longer fits. If you elected supplemental group life during a busy enrollment and never really needed that much, if you hold an individual policy that duplicates what your employer already provides at no cost to you, or if the premium has become a genuine strain, ending it is a considered choice rather than a loss. A good review sometimes concludes that keeping what you have is the better answer, and that is a fine outcome too.
Common questions
How do I cancel a Securian life insurance policy?
For an individual policy, send the issuing insurer named on your contract, Minnesota Life Insurance Company or Securian Life Insurance Company, a signed and dated written request that includes your name, policy number, and the date you want coverage to end, then ask for written confirmation that the policy has terminated and billing has stopped. Service contact details are printed on your policy documents and statements. For coverage through an employer, start with your benefits administrator instead.
Why does my paperwork say Minnesota Life instead of Securian?
Securian Financial is the brand name, and it states that its insurance products are issued by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer. Both names are correct. Use the legal insurer name printed on your own contract on any written request so it lands in the right file.
My coverage is through my employer. Who do I contact?
Your employer benefits administrator, not the insurer. Employer group life is elected and dropped inside your employer benefits system, and the premium usually comes out of your pay, so the change has to be made where the payroll deduction is set up. Securian group insurance accounts are reached through its LifeBenefits site, but the election itself belongs to the plan.
Can I drop life insurance at work in the middle of the year?
That depends on your plan. Many employer plans allow changes only at open enrollment or after a qualifying life event, and others are more flexible with life coverage than with health coverage. Ask your benefits administrator what your plan permits and which paycheck the change would first appear on.
What happens to my group coverage if I leave the job?
Employer group life generally ends shortly after employment does. Most group certificates include a right to convert the coverage to an individual policy, and some include portability, available for a limited window after coverage ends. That window is short, so read your certificate before you assume the coverage simply disappears.
If I drop supplemental coverage now, can I add it back later?
Sometimes, but not automatically. Supplemental amounts above the basic benefit commonly require evidence of insurability, meaning health information reviewed before the coverage takes effect. If your health has changed since you first enrolled, re-electing later may cost more or may not be approved. That is worth weighing before you drop an amount you may want back.
My coverage came through my bank or credit union. Is that the same thing?
It is a different arrangement. For coverage sold through a bank, credit union, or finance company, Securian says it does not service the coverage and directs customers to the contact information on their current statement. If your notice comes from your lender or your credit union rather than from the insurer, start there.
Will my coverage end the day I ask to cancel?
Not usually. Most life insurers end coverage on the next premium due date or on the date they process a signed request, whichever the contract specifies. That gap matters, because until the policy actually terminates you are still covered. Never treat a phone call as the end of it: confirm the termination date in writing and keep the confirmation.
Should I just stop paying instead of cancelling?
It is simpler than it looks to do this badly. Stopping payment starts the grace period, and if the policy has cash value the insurer may keep it in force by taking loans against that value, which can quietly drain it. A written request creates a clean, dated record of what you asked for and when. Cancelling on purpose is always tidier than lapsing by accident.
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This guide is general information, not legal, tax, or financial advice. Cancellation terms, refunds, and free-look windows depend on your contract and your state. Policy Review Center is a free comparison and referral service, not an insurance agency, insurer, or producer, and it connects you with independent licensed agents. Carrier names are used for reference only and do not imply any endorsement or affiliation.