About Midland National 

Since 1906, Midland National has provided fixed annuities and life insurance policies to individuals and families across the United States. Originally founded as Dakota Mutual Life Insurance Company, and assuming the name Midland National Life Insurance Company in 1925, the company dedicates itself to preserving its legacy of providing insurance financial services that protect individuals and families alike.

Midland National has enjoyed steady growth, stability, and industry success through its annuities and life insurance solutions for more than 110 years. An essential part of continuing that tradition of stability is the organization’s broad product portfolio designed to fit the individual needs of both personal and business policyholders, and its focus on long-term sustained growth and outstanding achievements of agents, distribution partners, and employees.

Midland National offerings

Trust is perhaps the most valuable commodity in the insurance business. Life insurance and annuities offer financial protection for individuals and families. After more than 100 of providing quality products and excellent service, Midland National looks forward to celebrating many more milestones in the years to come.

Midland National's independent agents offer a wide array of products to suit many individual needs:

Fixed index, traditional fixed and immediate annuities

Designed to produce guarantees backed by the financial strength of Midland National. Independent agents appointed by Midland National help guide customers in seeking insurance products suitable for their individual needs based on state-by-state buying guides.

Life insurance

Midland National's independent agents also offer term, whole, universal, and indexed universal life insurance policies to provide policyowners and beneficiaries with financial protection. Midland National knows the value and importance of having the right policy in place and weighing all factors involved to help determine which policies are right for each individual.

Midland National's division, Sammons® Corporate Markets Group, provides life insurance products specifically for banks, credit unions, business corporations, and government entities. The Corporate Markets Group provides life insurance products to help fund future benefit obligations such as retirement benefits and post-retirement medical costs. Today, Sammons Corporate Markets Group is a leading provider of Bank Owned Life Insurance in our country.

Midland National at every step of life

A heritage of trust

Midland National recently celebrated its 110th year of providing quality service, financial strength, and life insurance and annuity products. The company looks forward to another 100+ years of providing quality products and excellent service.

As a privately-held company, Midland National is not subject to the short-term earnings pressures that publicly-held companies often face. Midland National focuses on long-term strategic growth, rather than short-term earnings.

Midland National has earned high year-over-year ratings from third-party, independent reporting companies. Independent agency ratings provide a vital picture of an insurer's ability to keep commitments to its customers. The following ratings are based on our financial strength, operating performance, and ability to meet obligations to our policy owners and contract holders.

 

  • Midland National earned A+ (Superior) Rated by AM Best1, as a part of Sammons Financial Group, based on the company's financial strength, operating performance, and ability to meet its obligations to contract holders (2nd highest category of 15). The rating was affirmed on August 29, 2023.
  • Midland National earned an A+ (Strong) Rating by S&P Global Ratings, as part of Sammons Financial Group The A+ rating, affirmed on May 24, 2023, is the 5th highest rating out of 22 categories.
 

Indexed Universal Life Insurance products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.

Life insurance policies have terms under which the policy may be continued in force or discontinued. Permanent life insurance requires monthly deductions to pay the policy’s charges and expenses, some of which will increase as the insured gets older. These deductions may reduce the cash value of the policy. Current cost of insurance rates and current interest rates are not guaranteed. Therefore, the planned periodic premium may not be sufficient to carry the contract to maturity.  The policy's death benefit is paid upon the death of the insured. The policy does not continue to accumulate cash value and excess interest after the insured's death. Please refer to the customized illustration provided by your agent for additional detail. For costs and complete details, call or write Midland National Life Insurance Company, Administrative Office, One Sammons Plaza Sioux Falls, SD 57193. Telephone: (605) 335-5700.

Fixed index annuities are not a direct investment in the stock market. They are long term insurance products with guarantees backed by the issuing company. They provide the potential for interest to be credited based in part on the performance of specific indices, without the risk of loss or premium due to market downturns or fluctuations. Although fixed index annuities guarantee no loss of premium due to market downturns, deductions from your accumulation value for optional benefit riders or strategy fees or charges associated with allocations to enhanced crediting methods could under certain scenarios exceed interest credited to the accumulation value, which would result in loss of premium. They may not be appropriate for all clients. Interest credits to a fixed index annuity will not mirror the actual performance of the relevant index.

1 A.M. Best is 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 the ability to meet its obligations to policyholders.

The Best's Rating Report (s) reproduced on this site appear under license from A.M. Best and do not constitute, either expressly or implied, an endorsement of (Licensee)'s products or services. A.M. Best is not responsible for transcription errors made in presenting Best's Rating Reports.

Best's Rating Reports are copyright © A.M. Best Company and may not be reproduced or distributed without the express written permission of A.M. Best Company. Visitors to this website are authorized to print a single copy of the Best's Rating Report (s) displayed here for their own personal use. Any other printing, copying or distribution is strictly prohibited.

Best's Ratings are under continuous review and subject to change and/or affirmation. To confirm the current rating, please visit the A.M. Best website, www.ambest.com.

S&P Global Ratings awarded its "A+" (Strong) rating for insurer financial strength on February 26, 2009, and affirmed on May 23, 2023, to Midland National Life Insurance Company, The "A+" (Strong) rating is the fifth-highest out of 22 available ratings as a member of Sammons ® Financial Group.


In the News

Midland National Releases XL Heritage IUL

CHICAGO, IL, August 9, 2017 — Midland National® Life Insurance Company announced on August 1, 2017 the release of the new XL Heritage Indexed Universal Life insurance (IUL) product. Designed to provide a guaranteed death benefit with a single premium1, XL Heritage touts desirable features like liquidity and living benefits.
 
Over the next several decades, the Baby Boom generation could transfer as much as $30 trillion in assets to the next generation.2 "We created XL Heritage to help fill a need we recognized in this market," said Jerry Blair, Vice President and Chief Distribution and Sales Officer. "Clients are looking for a flexible and simple solution for passing on a portion of their estate to their beneficiaries while still maintaining control of their money in case of an emergency."
 
XL Heritage is designed for clients ages 50-80 who have between $25,000 and $200,000 ($150,000 for ages 50-59) of liquid assets not needed for retirement or daily needs.
 
According to Blair, the ability to leverage a client's money into a larger guaranteed death benefit is just the beginning. What sets XL Heritage apart is the smooth, simple application and underwriting process. "We've really streamline the process with XL Heritage," said Blair. "Now the agent can provide a quote, complete the e-app, and get a decision over the phone generally in a total of about 30 minutes. It's never been simpler to write IUL business."
 
XL Heritage is available through Midland National's e-app platform, ExactApp. Medical information is collected generally in a 15 to 20-minute phone call without the typical requirements of a medical exam or blood work of the insured3.
 
While clients desire to maximize the legacy they leave to their beneficiaries, XL Heritage also includes an Accelerated Death Benefit feature that allows the policyowner to use a portion of the death benefit while they are living. The policyowner can accelerate a portion of the death benefit should the insured become chronically or terminally ill as defined in the policy contract, subject to eligibility requirements.
 
This latest release is the fifth product added to the company's current IUL portfolio.
 

About Midland National

 For more than 110 years, 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 on July 6, 2017.
 
Founded as Dakota Mutual Life Insurance Company in 1906, Midland National® Life Insurance Company 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. 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 on Midland National, please visit https://www.sammonsfinancialgroup.com/midland-national.
 

 

Sammons® Financial Group is comprised of Midland National® Life Insurance Company, North American Company for Life and Health Insurance®, Sammons Retirement Solutions® Inc. and Sammons Financial Network® LLC, member FINRA.
 
A+ (Superior), the second highest rating out of 15 categories, was affirmed by A.M. Best for Midland National as part of Sammons Financial Group on July 6, 2017.  A.M. Best is a large third party independent reporting and rating company that rates an insurance company on the basis of the company's financial strength, operating to performance and ability meet its ongoing to policyholders obligations.
 
1. Although XL Heritage is filed as a Flexible Premium Universal Life and allows additional premiums, the product is designed for a single premium payment. There are limited benefits to adding premiums after policy issue - for example, the Account Value will increase with additional premium payments, but the guaranteed death benefit and the Return of Premium Value will NOT. Therefore, clients should carefully consider whether additional premiums should be paid. Product availability subject to state approval. 
 
2. Source: CNBC 11-30-16, Morgan Stanley 2015, Accenture. The “Greater” Wealth Transfer – Capitalizing on the Intergenerational Shift in Wealth, 2012; Accenture 2016. 
 
3. Coverage is subject to some health and lifestyle questions.
 
Indexed Universal Life Insurance products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance. XL Heritage indexed universal life insurance is issued on form series L145 by Midland National Life Insurance Company, One Sammons Plaza, Sioux Falls, SD 57193. Product, features, riders, endorsements or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.

 

PR-30-8-17