Effective August 4, 2025, Securian now offers a Premium Deposit Account (PDA) Agreement to our SecureCare™ product line.
This new option allows you to:
- Fund a multi-pay policy with one deposit – a single lump-sum into the PDA covers all remaining premium payments.
- Set it and forget it – the PDA will automatically pay the remaining annual premiums on the client’s behalf.
- Earn interest at a fixed rate – which means the amount a client needs to deposit in the PDA will be less than the total remaining premiums.
One important thing to keep in mind regarding the PDA is that it can only be added after issue. So, if a client has the ability to fully fund their policy at issue, a single pay remains the best option because of the leverage it provides.
However, the PDA is a great option for multi-pay clients that value simplicity and convenience and have (or expect to have) new liquidity. Additionally, the added flexibility of the PDA may help open doors with prospects who weren’t reachable before.
Check out our PDA consumer brochure for a detailed overview of the agreement plus helpful case study.
Want to know more? Download our PDA FAQs to learn more, including:
- State availability.
- What clients might be a good fit for adding the PDA.
- How to add the PDA to existing contracts.
- How to find the current interest rate.