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Minnesota Life

Minnesota Life Term Life Insurance Review

Minnesota Life excels at covering the gray zones of life with nuanced underwriting that our customers appreciate.

Minnesota Life Customer Service: (800) 643-5728

Why Quotacy?

Save time & money. Let us do your comparison shopping.

More policy options

Quotacy is an independent life insurance broker. We sell policies from the nation's most trusted insurers. By using our quoting tool, you'll get multiple term life options from the best life insurance companies in minutes.

Get what's right for you

Our agents match you with the right company for your health and lifestyle—so you get the best life insurance for you. This is part of our free service as a life insurance broker.

We're transparent

We value transparency as much as you do. Everything we know about life insurance, we'll share with you so you're making informed decisions from quote to covered.

Spend less time shopping

No matter where you buy your policy, you'll pay the same rates. Pricing for life insurance is regulated by government. Don't waste time talking with multiple agents, use our free online comparison shopping tool to get your quotes.

Our focus is on you

As a life insurance broker, our focus is on finding you the best policy for your needs. Quotacy's agents work on salary, not commission—so, we're at your service.

We're experienced

We've been in the life insurance industry since 1990, and have helped our customers protect their families with over $22 billion in coverage. That's a lot of happy customers.

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Minnesota Life Company Overview


St. Paul, MN





Value of In Force Life Insurance

$1.2 trillion


St. Paul, MN



Active Customers


Value of In Force Life Insurance

$1.2 trillion

Minnesota Life Ratings & Awards

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A.M. BestBetter Business BureauJ.D. PowerMoody’sStandard & Poor’s

A.M. Best is an independent rating agency that ranks the financial strength of life insurance companies. Their best rating is an A++. Their worst is a D.

Better Business Bureau (BBB) is a non-profit that shares customer service feedback on businesses in the USA. BBB assigns ratings from A+ (highest) to F (lowest).

J.D. Power and Associates analyzes customers’ experiences with life insurance companies and ranks them on a scale from 1 to 1000.

Moody’s Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody’s rating scale ranges from Aaa to C with 1, 2, and 3 to indicate whether the ranking is on the higher or lower end of that category.

Standard and Poor’s (S&P) is the world’s leading provider of credit ratings and creditworthiness. S&P’s scale ranges from AAA to D with + or – to define standing within each category.

minnesota life great place to work

Minnesota Life was certified as a Great Place to Work company in 2017.

Minnesota Life received the Outstanding Philanthropic Organization Award from the Association of Fundraising Professionals

Minnesota Life received the Outstanding Philanthropic Organization Award from the Association of Fundraising Professionals (Minnesota Chapter) in 2017.

How much life insurance do you need?

Figure out your action plan with our needs calculator

To stand out in a competitive industry, most insurers focus on serving health or lifestyle niches.

Minnesota Life is excellent for:

  • Aviation & Pilots
  • Criminal Record
  • Healthy Individuals
  • Occasional Cigarette Use

Minnesota Life excels at covering the gray zones of life with nuanced underwriting that our customers appreciate.

Minnesota Life Comparison Quotes

Minnesota Life Advantage Elite Select Term

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Age 30Age 40Age 50Age 60Age 70Age 30Age 40Age 50Age 60Age 70





Banner Life


Cincinnati Life


Haven Life


John Hancock


Lincoln Financial


Minnesota Life


Pacific Life










United of Omaha


US Life


William Penn


Sample monthly premium quotes for a $500,000, 20-year term policy for healthy, non-smoking individuals living in Minnesota. Pricing varies by gender (except in Montana). Women pay less for life insurance than men because they live longer on average.

Your life insurance pricing may be different and is determined by your individual risk factors and the state where you have your primary residence. Pricing as of January 2020.





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How much life insurance do you need?

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Calculate needs

Minnesota Life Features & Benefits

What we like

  • Can be converted into a permanent policy.
  • Includes Accelerated Death Benefit Rider at no charge.
  • Offers Chronic Illness Rider option.
  • Your medical exam can be done at home or work.
  • You can review your medical exam results upon request.
  • You can manage your policy online.

What could be better

  • Does not offer an Accidental Death Benefit Rider.
  • Credit card payments are not accepted.
  • Policy not delivered electronically.

Minnesota Life Policy Details

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Advantage Elite Select Term
Guaranteed level premiums?Yes
Term lengths available:10, 15, 20, 30*
Premiums returned at end of term?No
Riders available:Accelerated Death Benefit, Premium Waiver for Disability, Child Rider, Chronic Illness Rider
Accumulates cash value?No
Policy loans available?No
Minimum issue age:16
Maximum issue age:80
Minimum face amount:$50,000
Missed payment grace period:61 days**

*10-year term available for ages 16-80; 15-year term available for ages 16-70; 20-year term available for ages 16-65; 30-year term available for ages 16-50.

**State of issue, payment mode, and draft date can all impact the grace period end date. Your policy will state specifics.

» Compare: Term life insurance quotes

Minnesota Life Riders

Increase your policy’s benefits with riders

Accelerated Death Benefit Rider


This rider is included in your policy at no charge. It gives you access to a portion of your policy’s death benefit, if you are diagnosed with a terminal illness resulting in 12 months or less to live.

Premium Waiver for Disability

*Available at additional cost

Minnesota Life will waive premium payments during a period of total disability lasting six consecutive months or more. The waived payments don’t have to be paid back. This rider is not available on all policies and cost varies by age.

Child Rider

*Available at additional cost

For $50 per year, add a child rider that covers your children under age 18. Options range from $10,000 to $25,000 in coverage per child. Ask your Quotacy agent for details.

Chronic Illness Rider

*Available at additional cost

This rider gives you access to a portion of your policy’s death benefit if you become chronically ill for at least 90 days. Cost varies by age and benefit amount. Ask your Quotacy agent for details.

Learn more

Wondering what types of riders are beneficial?

Minnesota Life Policy Service


  • Customer Service: (800) 643-5728
  • Fax: (651) 665-6955

Hours: Monday-Friday, 8:00 AM-5:00 PM Central

Payment Mailing Address

Minnesota Life Insurance Company
400 Robert Street North
St. Paul, MN 55101

Manage your policy online

  1. Visit securianservice.com.
  2. Click on Don’t have an Account?
  3. Fill in your personal info.
  4. Complete registration for your online eService account.

Minnesota Life Insurance Company is the largest life insurance company affiliate of their parent company, Securian Financial Group, Inc.

What you can do online

  • Make payments.
  • View your policy.

The Fine Print

Guidelines & Exclusions

Term Conversion
  • Can convert to permanent policy at any time during the term or up to age 75—whichever is earlier.
  • Partial conversions are allowed.
Premium Waiver for Disability Rider
  • Minnesota Life will refund premiums paid during the six-month waiting period.
Accelerated Death Benefit Rider
  • May accelerate up to 75% of the death benefit—up to $1,000,000.
Chronic Illness Rider
  • May be accelerated up to 25% of the death benefit.
  • Accelerated benefit cannot exceed per diem allowed by the IRS multiplied by the number of days in the calendar year.
  • You may only make one chronic illness claim per 12-month period.

Updated: March 2018

More term life insurance reviews

We recommend without hesitation every company reviewed on Quotacy. When you comparison shop, the death benefit amount that your loved ones would receive and the cost of the policy are the most important factors to consider. If you have any questions about the best life insurance companies for you, contact Quotacy. We'll gladly help you evaluate your life insurance options.

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