Midland National Life Insurance Review – Ratings & Policies

6 minute read

When choosing a life insurance provider, it’s crucial to consider not only their reputation and financial stability but also the variety and quality of products they offer. Midland National Life Insurance Company stands out as one of the leading providers, offering a robust selection of life insurance and annuity products. With over 100 years of experience, Midland National has built a reputation for providing reliable insurance solutions and competitive products to meet the evolving needs of its customers.

Midland National Life Insurance Overview

Table of Contents

Midland National, founded in 1906, is known for its financial strength, high customer satisfaction, and diverse range of life insurance products. Whether you’re looking for term life, universal life, or indexed universal life insurance, Midland National offers a solution designed to provide both protection and growth.

Midland National Life Insurance Products

Term Life Insurance

Guaranteed Level Premium: Choose between 10, 15, 20, or 30-year level premium durations, depending on your needs and budget.
Conversion Option: The term life policy can be converted into a permanent life insurance policy, such as universal or indexed universal life insurance, without undergoing additional medical exams.
Affordable Protection: This policy offers an economical option for individuals looking for temporary coverage or for those wanting to cover specific financial obligations like a mortgage or education costs.

Universal Life Insurance

Flexible Premiums: Midland National’s Universal Life Insurance allows for flexible premium payments that can be adjusted based on your financial situation.
Cash Value Growth: The policy offers a cash value component that grows with interest over time, which can be accessed for loans or withdrawals.
Lifetime Coverage: Universal life insurance provides lifelong protection with a guaranteed death benefit, ensuring that your beneficiaries are taken care of.

Indexed Universal Life Insurance (IUL)

Market-Linked Growth with Protection: IUL policies offer cash value growth linked to the performance of selected market indices, with no direct market participation, ensuring your principal is protected from market downturns.
Zero Percent Floor: The IUL policy guarantees a zero percent floor, meaning your cash value will not decrease due to poor market performance.
Flexible Premium Payments: You can adjust your premium payments and death benefit over time, making this policy adaptable to changing financial needs.

Life Insurance Product	Key Features	Best For
Premier Term Life Insurance	Guaranteed level premium durations of 10, 15, 20, or 30 years Competitive premiums with conversion options Temporary coverage with flexibility to convert to permanent insurance	Individuals seeking affordable, temporary coverage for specific financial needs such as mortgage protection or educational expenses.
Essential Guaranteed® Universal Life 5	Guaranteed death benefit up to age 120 Flexible premiums and death benefit guarantees Permanent life insurance with options to adjust the death benefit guarantee	Those looking for long-term protection with a guaranteed death benefit and flexibility in premium payments.
Strategic Protector® Indexed Universal Life (IUL)	Cash value linked to market indices with zero percent floor protection Tax-deferred growth potential with interest bonuses Flexibility in premium payments and adjustable death benefits	Individuals seeking higher growth potential with protection from market downturns and flexibility in coverage and premiums.

Midland National Annuity Products

In addition to life insurance, Midland National offers a range of annuities that provide reliable income streams and growth potential for those planning for retirement.

Fixed Index Annuities (FIA)

Midland National’s Fixed Index Annuities offer protection against market downturns while providing growth potential based on specific indices.

MNL Income Planning Annuity®: Provides immediate or deferred lifetime income with a 10% annual lifetime payment increase for the first 10 years, along with an embedded Guaranteed Lifetime Withdrawal Benefit (GLWB).
MNL Endeavor® 8: Offers flexible premiums and penalty-free withdrawals of up to 10% starting in the second year, with multiple interest crediting options.
MNL IncomeVantage® Pro: Features enhanced participation rates for increased growth potential and a guaranteed lifetime payment amount with the option to enhance the death benefit payout.

Multi-Year Guarantee Annuities (MYGA)

MYGAs provide fixed interest rates over set periods, offering predictable growth for those seeking a low-risk investment.

MNL Guarantee Pro®: Available in 3, 5, or 7-year terms, this product offers guaranteed interest rates and penalty-free withdrawals starting from the second contract year.

Single Premium Immediate Annuities (SPIA)

SPIAs provide immediate income in exchange for a lump sum payment, with flexible payout options to suit individual needs.

Direct Income®: This product offers several payout options, including life-only, period certain, and joint life options, providing flexibility for retirement income planning.

Annuity Product	Key Features	Best For
MNL Income Planning Annuity®	Provides immediate or deferred lifetime income 10% annual lifetime payment increase for the first 10 years Guaranteed Lifetime Withdrawal Benefit (GLWB) for lifetime income Available for ages 50-79	Individuals seeking guaranteed lifetime income with flexible options for immediate or deferred payouts.
MNL Endeavor® 8	Flexible premium option Penalty-free withdrawals up to 10% starting in the second year Multiple interest crediting methods: point-to-point, participation rate, and more Available for ages 0-85	Investors looking for flexible contributions and growth tied to market indices with principal protection.
MNL IncomeVantage® Pro	Enhanced participation rates for higher growth potential Guaranteed Lifetime Withdrawal Benefit (GLWB) Option for increasing or level lifetime payments Available for ages 40-79	Those seeking both growth potential and lifetime income options with a focus on guaranteed payments.
MNL IndexBuilder®	Premium bonus of up to 10% on premiums received in the first 3 years Penalty-free withdrawals of up to 10% starting in the second year Interest crediting methods: participation rate, point-to-point, and more Available for ages 0-79	Investors seeking higher initial growth with premium bonuses and multiple index-based crediting options.
Direct Income® (Single Premium Immediate Annuity)	Provides guaranteed immediate income for life or a set period Multiple payout options: life-only, period certain, joint life Single premium investment Available for ages 0-85	Retirees looking for immediate, guaranteed income with flexible payout structures.
MNL Guarantee Pro®	Guaranteed interest rates for 3, 5, or 7 years Penalty-free withdrawals starting in the second year Low-risk, predictable returns Available for ages 0-90	Conservative investors looking for low-risk annuities with guaranteed fixed returns.

Midland National Financial Strength and Ratings

Midland National Life Insurance Company has consistently earned high ratings from top rating agencies. These ratings reflect the company’s strong financial standing and its ability to meet obligations to policyholders:

A+ Rating from A.M. Best: Superior financial strength.
S&P Global: Strong rating for overall performance and stability.
Fitch Ratings: A+ Stable rating.

These ratings affirm Midland National’s commitment to financial security and its long-standing ability to pay claims and deliver on its promises.

Frequently Asked Questions (FAQs)

What life insurance products does Midland National offer?

Midland National offers a variety of life insurance options, including term life, universal life, and indexed universal life (IUL). Each product is designed to meet different needs, from temporary coverage to lifelong protection with cash value accumulation.

What are Midland National’s annuity options?

Midland National provides several annuity products, including fixed index annuities (FIA), multi-year guarantee annuities (MYGA), and single premium immediate annuities (SPIA). Each offers varying levels of growth potential, flexibility, and income guarantees.

What is an Indexed Universal Life Insurance (IUL) policy?

An IUL policy combines death benefit protection with the potential for cash value accumulation based on the performance of a market index. The key benefit is that it allows for growth without the risk of market losses.

How does Midland National’s Fixed Index Annuity work?

A Fixed Index Annuity (FIA) offers a guaranteed minimum interest rate while providing the opportunity for additional growth based on the performance of a market index. It’s an ideal product for those seeking growth with protection against market downturns.

What makes Midland National a reliable company?

With over 100 years of experience, high financial ratings, and a diverse product line, Midland National is known for its stability and commitment to policyholders. The company is employee-owned and places a strong emphasis on long-term customer relationships.

Conclusion

Midland National Life Insurance Company continues to be a reliable choice for individuals seeking comprehensive life insurance and annuity solutions. With a variety of product options, flexible features, and strong financial backing, the company is well-positioned to meet the diverse needs of its policyholders. Whether you’re looking for lifelong protection, tax-deferred growth, or guaranteed retirement income, Midland National’s offerings provide both security and flexibility for a sound financial future.

Get Started with Midland Today!

For more information or to get a personalized quote, contact InsuranceQuotes2Day at 1-800-712-8519, or use the quoter on this page for a confidential and free consultation.

Doug Mitchell, CLU Independant Advisor

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent almost 30 years in the life insurance industry and has also held licenses to sell securities, long-term care insurance and home and auto insurance. Doug is a Top of the Table Million Dollar Round Table member (MDRT). MDRT is a global, independent association of the world's leading life insurance advisors. For two years, Doug served as President of the Auburn Opelika Association of Financial Advisors and has been a member of the Million Dollar Round Table. He obtained Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award. Later in his career with New York Life he was an Executive Council Member. Doug currently serves as President of Ogletree Financial, a managing general agency serving life insurance agents and clients in all parts of the United States. Today, Doug’s main focus is servicing 1000s of policyholders.

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