Custodia Financial Extends Retirement Loan Protection Program to Securian

Securian Financial and Custodia Financial announced a new relationship expanding access to Custodia’s Retirement Loan Protection (RLP) program—an in-plan feature aimed at protecting 401(k) loans from default when job loss, disability or death occurs.

“Millions of Americans borrow from their 401(k)s with the best of intentions, but job loss or disability can quickly turn a short-term solution into a permanent setback,” said David Seidel, Securian Financial senior vice president and head of its U.S. Affinity Solutions business. “Joining with Custodia Financial in this program reflects Securian’s commitment to innovative protection solutions that help people build secure tomorrows. Retirement Loan Protection helps ensure workers can protect the savings they’ve worked so hard to build—especially when life takes an unexpected turn.”

According to industry research, loan defaults and cash-outs account for more than $2 trillion of the U.S. retirement savings gap.

“Working with Securian Financial allows us to deliver Retirement Loan Protection to more plan sponsors and participants through Securian’s trusted and proven insurance platform,” said Tod A. Ruble, co-founder and CEO of Custodia Financial. “Together, we’re helping to close the retirement savings gap by preventing loan defaults before they happen—automatically and inclusively.”

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