Midland National Life Insurance Company Announces Strategic Accumulator Indexed Universal Life Product

WEST DES MOINES, IA - Sept. 9, 2019Midland National® Life Insurance Company, a member of Sammons® Financial Group and one of America’s leading insurance companies, today announced the launch of its Strategic Accumulator Indexed Universal Life (IUL) insurance product. The new IUL offers strong death benefit protection, a return of premium death benefit option, as well as accelerated benefits for a qualifying critical, chronic, or terminal illness1. Furthermore, the product includes a redesigned Account Interest Multiplier2, high index caps, and an interest bonus, which together provide strong cash value accumulation and income potential. 

“We know our policyowners have many different needs in life - that’s why this product is designed to perform in a variety of scenarios. Strong death benefit protection coupled with high income potential really make this Strategic Accumulator stand out, and help make this product truly provide a strategy for life,” says Jerry Blair, chief distribution officer of SFG’s Life Division.

One of the product’s strengths is its Account Interest Multiplier, which has been redesigned to help further maximize potential cash value. The multiplier starts five years earlier3 - year one instead of year six, and is higher. In addition, a one percent interest rate bonus4 on index account values is available starting at year 11. 

“Today, we cannot stress the importance of critical and chronic illness coverage enough. According to a recent report5, two-thirds of people who file bankruptcy say that medical bills were a major contributor to their distress,” continued Blair.

Strategic Accumulator is the latest addition to Midland National’s comprehensive line of life insurance products offering their innovative accelerated death benefit endorsement for critical, chronic, and terminal Illness, which allows the policy owner to accelerate a portion of the death benefit for a qualifying illness.

Strategic Accumulator is available with Midland National's WriteAway® Accelerated Underwriting, which provides a faster and less invasive process for issuing a policy. The average time for an application that qualifies for WriteAway is a speedy 6.5 calendar days from submission to approval.6



About Midland National Life Insurance 


For more than 110 years, Midland National® Life Insurance Company (Midland National) has been an industry leader, crediting the company’s strength to its commitment to stability, innovation and dedicated customer service. Midland National is accredited by the Better Business Bureau, and has earned an A+ (Superior) rating from A.M. Best, a large third-party independent reporting and rating company that rates an insurance company on the basis of the company's financial strength, operating performance and ability to meet its ongoing obligations to policyholders. This rating is the second highest out of 15 categories, was affirmed by A.M. Best for Midland National as part of Sammons® Financial Group, Inc. on August 2, 2018. 

Founded as Dakota Mutual Life Insurance Company in 1906, Midland National has protected families and preserved legacies for generations. Midland National is one of the leading insurance companies in America. Midland National is a member of Sammons® Financial Group, Inc., a subsidiary of Sammons Enterprises, Inc. With its Annuity Division located in West Des Moines, Iowa, and its Life Operations location in Sioux Falls, South Dakota, Midland National operates in 49 states and the District of Columbia through its 12,000 licensed sales professionals. For more information, www.midlandnational.com.


About Sammons Financial Group, Inc.

The member companies of Sammons® Financial Group, Inc. (SFG), are here to help families and businesses protect their future, so they can enjoy life’s moments today. A subsidiary of Sammons Enterprises, Inc., SFG is a group of privately-owned financial companies, including several of the most enduring and stable companies in our industry. SFG is comprised of three member companies: Midland National® Life Insurance Company, which includes Sammons® Corporate MarketsNorth American Company for Life and Health Insurance®; and Sammons Institutional GroupSM, which consists of Midland Retirement Distributors® and Sammons Retirement Solutions®, Inc. Together, SFG offers some of today’s most sought-after life insurance, annuity, and retirement planning products. Sammons Financial Group: With You for Every Moment®.


1. Return of premium death benefit option and accelerated death benefits are subject to eligibility requirements.

2.  Account Interest Multiplier is applied after interest credit or index credit is determined and before any interest bonus. It is not applied to the interest bonus or any portion of the Account Value that is Policy Debt or the Minimum Account Value. The multiplier is guaranteed on the index account, and conditionally guaranteed on the fixed account.  The multiplier is paid on the fixed account when the declared interest rate is in excess of the guaranteed rate of 1.5%. The multiplier has a guaranteed minimum of 10% starting in policy year 1, but it could be higher and it could vary by index selection.

3. Compared to Midland National’s XL-CV Max IUL.

4.  The current 1% interest bonus percentage is not guaranteed and subject to change; however, once a policy is issued, the percentage will not change. Interest bonus is contractually guaranteed on all indexed accounts, including those backing policy loans. The bonus is conditionally guaranteed on the fixed account and will be paid if the declared interest rate is greater than the guaranteed rate.  For standard policy loans or net zero cost loans the interest bonus is not applied to any loaned amount.

5. Source: This is the real reason most Americans file for bankruptcy. CNBC. Feb 2019. https://www.cnbc.com/2019/02/11/this-is-the-real-reason-most-americans-file-for-bankruptcy.html

6. Source: Internal underwriting data, 6/14/2019.  This process is not available in California.


Midland National has been a BBB Accredited Business since January 30, 2017. The BBB has determined that Midland National Life Insurance Company meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints.






Agents offering, marketing, or selling accelerated death benefits for chronic illness in California must be able to describe the differences between benefits provided under an accelerated death benefit for chronic illness and benefits provided under long-term care insurance to clients. You must provide clients with the ADBE Consumer Brochure for California that includes this comparison. Comparison is for solicitation purposes only, not for conversions.

Strategic Accumulator IUL & XL-CV Max IUL (policy form series L147), Accelerated Death Benefit Endorsement for Critical, Chronic and Terminal Illness (form series TR210), Accelerated Death Benefit Endorsement for Critical Illness (form TR197, CA only), Accelerated Death Benefit Endorsement for Chronic Illness (form TR193, CA only) and Accelerated Death Benefit Endorsement for Terminal Illness (form series TR185, CA only) are issued by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Product, features, endorsements, riders or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.