News

Premium Deposit Agreement

North American Company for Life and Health Insurance Launches New Premium Deposit Agreement (PDA) for Single Life Indexed Universal Life Insurance Products

  • Sep 25, 2018
North American Company for Life and Health Insurance® launched a new Premium Deposit Agreement (Agreement) 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 on the policy. This provides many potential benefits including worry-free premium payments, opportunity for growth, and helping avoid creating a Modified Endowment Contract (MEC).
ADBE 2

North American Company for Life and Health Insurance Adds Accelerated Death Benefit Endorsements for Critical, Chronic, and Terminal Illness to ADDvantage Term Product

  • Sep 25, 2018
North American Company for Life and Health Insurance® announced the addition of the Accelerated Death Benefit Endorsements (ADBE) for critical and chronic illness on ADDvantage® Term. This is a welcome addition to the already included terminal illness benefit. The new endorsements will be added to eligible ADDvantage Term life insurance policies at the time of issue for no additional premium.
Premium Deposit Agreement

Midland National Life Insurance Company Introduces New Premium Deposit Agreement for Single Life Indexed Universal Life Insurance Products

  • Sep 25, 2018
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.
ADBE 1

Midland National Life Insurance Company Adds Accelerated Death Benefit Endorsements for Critical, Chronic, and Terminal Illness Premier Term Series Products

  • Sep 25, 2018
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 logo

A.M. Best Affirms A+ Rating for Sammons Financial Group, Inc. and its Member Companies

  • Aug 2, 2018
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).