Security Plan Life was incorporated in the State of Louisiana on October 24, 1995 and was subsequently issued a Certificate of Authority to transact business by the DOI on March 21, 1996.

Security Plan Life issues small face amount ordinary whole life and pre-need policies, designed to fund final expenses, primarily funeral and burial costs.

Security Plan Life focuses on the needs of the middle and lower income markets in Louisiana, Mississippi and Arkansas using the home service marketing distribution system of employee-agents who work a route system to sell policies and collect premiums and service policyholder.  

Security Plan Life is the parent company of Security Plan Fire Insurance Company which sells limited-liability, named peril property policies covering dwelling and contents.

The attributes of Security Plan Life’s business include:

• Smaller face amount policies issued, which results in limited underwriting.
• More modest premiums typically collected monthly either by employee-agents who go directly to the customer’s home or by Funeral Home agents when customers come to the Funeral Home to pay.
• Places an emphasis on personal service to its customers.

The attributes of Security Plan Fire’s business include:

• Smaller face amount policies issued, which results in limited underwriting.
• Premiums typically collected monthly by employee-agents who go directly to the customer’s home.
• Premiums are much lower than traditional homeowner’s policies and policies do not provide replacement cost of the dwelling or contents but provide reimbursement of the actual cash value of the dwelling or contents after depreciation.

Marketing & Distribution

Our policies have traditionally been sold and serviced through a home service marketing distribution system of about 240 independent agents as of December 31, 2020, who work on a route system and through over 175 funeral homes, all of whom sell policies, collect premiums and service policyholders.