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

WEST DES MOINES, IA - Nov. 18, 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 Protector Indexed Universal Life (IUL) insurance product. The product features a new Premium Recovery Endorsement, which offers the policyowner an option to fully surrender the policy and recover some or all of their total premiums paid with a 60-day window after the 15, 20, and 25 policy year anniversary.1  

“We realize our policyowners may have concerns about balancing their current need for life insurance with unexpected future financial obligations. The addition of a Premium Recovery Endorsement aims to alleviate these worries by allowing the policyowner to receive some or all of the total premiums paid when fully surrendering the policy,” says Jerry Blair, chief distribution officer of SFG’s Life Division. 

The Strategic Protector is unique due to the combined guaranteed death benefit protection and cash value growth potential. The death benefit includes accelerated death benefit endorsements for a critical, chronic, and terminal illness.2 This allows the policyowner to accelerate a portion of the death benefit for a qualifying illness. Meanwhile, cash value growth can provide relief from strict premium payment requirements of a guaranteed death benefit, especially in the later years. 

“An emergency cash fund often saves people from financial distress when unexpected circumstances arise. We’re excited to include cash value in the new Strategic Protector as it can provide an extra layer of emergency funds,” continued Blair.  

Strategic Protector is the latest addition to Midland National’s comprehensive line of life insurance products. It’s 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.3


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. The Premium Recovery Endorsement is only available with the Premium Guarantee Rider option.

2. Subject to eligibility requirements. The death benefit will be reduced by the amount of the death benefit accelerated. Since benefits are paid prior to death, a discount will be applied to the death benefit accelerated. As a result, the actual amount received will be less than the amount of the death benefit accelerated. An administrative fee applies for an election of the chronic or terminal illness. There is no administrative fee for critical illness.

3. Source: Internal underwriting date, 6/14/19. 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.