- Security Plan Life Insurance Company (SPLIC) is a real, licensed insurer that has operated since 1948 and became a subsidiary of Citizens, Inc. (NYSE: CIA) following a 2004 acquisition.
- It serves Louisiana, Mississippi, and Arkansas specifically, focusing on final expense (burial) whole life insurance and limited liability property insurance for middle- and lower-income households.
- Security Plan uses a 'home service' distribution model — independent agents working defined routes to sell policies and collect premiums in person, supplemented by partnerships with more than 175 funeral homes across its three-state footprint.
- As a Citizens, Inc. subsidiary, its financial backing is tied to its NYSE-listed parent company rather than standing alone as an isolated small regional insurer.
Security Plan Life Insurance Company is a genuine, long-operating insurer, not an obscure or questionable name — it has been in the insurance market since 1948 and has operated as a subsidiary of Citizens, Inc., a New York Stock Exchange-listed insurance holding company (NYSE: CIA), since Citizens acquired it in October 2004.
What It Sells, and Where
Security Plan focuses on final expense (burial) whole life insurance, along with a newer whole life product line and critical illness coverage, plus limited liability property insurance covering dwelling and contents. Its footprint is specifically Louisiana, Mississippi, and Arkansas, targeting middle- and lower-income households rather than operating as a nationwide insurer.
The Home Service Distribution Model
Security Plan uses what the insurance industry calls a 'home service' model: independent agents work defined geographic routes, visiting policyholders in person to sell policies and collect premiums, a distribution approach with roots in the early 20th-century industrial life insurance market that Security Plan has continued into the present. The company also sells through more than 175 partner funeral homes across its three-state territory, tying policy sales directly to the final-expense planning process.
Why the Citizens, Inc. Connection Matters
Because Security Plan operates as a subsidiary within the Citizens, Inc. group — which also includes Magnolia Guaranty Life Insurance Company and Security Plan Fire Insurance Company — its financial stability is tied to the broader, publicly traded parent company's balance sheet and reporting, rather than standing alone as an isolated regional insurer. This is the same subsidiary structure worth checking for any insurer, as covered in our insurance company legitimacy framework.
For current policy service, use Security Plan's official page at citizensinc.com/security-plan rather than a third-party directory listing, since contact details for smaller regional subsidiaries are more prone to becoming outdated on aggregator sites.
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