Midland National Life Insurance Company Introduces New Premium Deposit Agreement for Single Life Indexed Universal Life Insurance Products
Midland National® Life Insurance Company announced the release of a new Premium Deposit Agreement (Agreement) feature for most single life Indexed Universal Life products. The new feature allows the policyowner to submit a lump sum and creates a Premium Deposit Account (PDA) for the purpose of automatically funding future annual premium payments to a policy.
Midland National Life Insurance Company Adds Accelerated Death Benefit Endorsements for Critical, Chronic, and Terminal Illness Premier Term Series Products
Midland National® Life Insurance Company announced the addition of Accelerated Death Benefit Endorsements (ADBE) for critical, chronic, and terminal illness on Premier Term products. This is a welcome addition to the already included terminal illness benefit. The new endorsements will be added to eligible Premier Term life insurance policies at the time of issue for no additional premium.
A.M. Best has affirmed the Financial Strength Rating A+ (Superior) rating for Sammons® Financial Group, Inc’s (SFG) member companies, Midland National®l Life Insurance Company (Midland National) and North American Company for Life and Health Insurance® (North American).
Midland National® has been named to the 2018 Ward’s 50® list of top performing life-health insurance companies. The top 50 list is generated annually after careful analysis of more than 700 life-health companies. Each top 50 company has achieved superior performance and passed all safety and consistency screens over the five-year (2013-2017) period analyzed by the Ward Group.
Sammons Retirement Solutions®, which creates simple, innovative and straightforward solutions to help individual investors live well in retirement has launched the LiveWell® Freedom Variable Annuity (VA) which features a first-of-its-kind Guaranteed Lifetime Withdrawal Benefit (GLWB) feature. The innovative VA is the first that provides investors with greater freedom in retirement on their “Freedom Date,” a specific date determined at issue.