About Midland National Life Insurance Company
With life operations located in Sioux Falls, South Dakota, and the Annuity Division located in West Des Moines, Iowa, Midland National operates in 49 states, the District of Columbia, Puerto Rico, Guam, the Virgin Islands, the island of Anguilla, and on several overseas military installations. The company has over 10,000 licensed sales professionals.
Midland National Life Insurance Review 2019
Trying to locate the best life insurance company when shopping protection for your family is never the most straightforward task for the average consumer. We understand that and strive to help. Today, we intend on doing just that by giving you a full overview of Midland National Life Insurance Co.
In this post, we are going to cover a brief overview of the company, the financial strength of Midland National as well as the products that are currently being offered to consumers if you are looking for life insurance.
In an industry that offers several different kinds of life insurance products, it’s important to know all the details in advance.
History of Midland National Life Insurance
Midland National has a somewhat quite name in the life insurance industry but that has always been a company you can trust. Furthermore, Midland National has always been a company that’s offered robust life insurance products while maintaining a reputable and strong financial strength rating.
For as long as Midland National Life has been around, it’s somewhat surprising that more individuals are not familiar with them. In all honesty, it’s not that surprising. It’s prevalent for life insurance companies not to be big-time marketing machines or flaunt themselves on hundreds of commercials.
Midland National falls into this category and focuses more on critical things. Additionally, Midland National has a very long track record in the industry and has been around in 1906 when they were initially founded in Sioux Falls South Dakota.
Clearly, any life insurance company that’s still in the game with over 110 years under the belt is impressive. Especially when you consider how competitive and cutthroat the life insurance industry can be.
Currently, Midland National is owned by Sammons Financial Group. This is a privately held company. In the next section, we will touch on the specifics about Sammons Financial Group as well as Midland National that you need to be aware of.
Midland National Life Insurance Financial Ratings
Midland National currently has more than 1 million active life insurance policies in force. This equates to roughly 150 billion dollars of in-force life insurance. Additionally, Midland National clients and policyholders can feel good about the fact that they are operating with over 51 billion dollars of assets.
Another strong point to emphasize about Midland National is the fact that they are currently being afforded a strong A+ rating from A.M. Best which is one of the 4 major credit rating agencies assigned the task of evaluating an insurance company’s liquidity and financial stability.
Lastly, you can feel good knowing that Midland National is currently backed by an A+ BBB rating which goes to show that they truly are focused on the consumers, policyholders and when complaints do arise, they are quick to resolve them and strive for 100% customer satisfaction.
While all this may sound great, it’s still imperative that we discuss the products currently being offered by Midland National. Life insurance products are the name of the game, and without knowing your options, you will likely not be aware of which direction you should go.
Life Insurance Products Offered by Midland National
Currently, Midland National has a diverse selection of life insurance products and financial solutions that can be used and implemented to strengthen your financial future. Midland National currently 3 different kinds of annuities that include the following options.
- Immediate Annuities
- Fixed Annuities
- Indexed Annuities
While annuities may be a good fit for some individuals nearing retirement, you likely ended up on this post searching for information about life insurance. Here are the products currently offered by Midland National on the life insurance side of the business.
- Term Life Insurance
- Permanent Life Insurance (Whole Life Insurance)
- Indexed Universal Life Insurance
- Variable Life Insurance
While none of these are necessarily that much different than what other companies can offer you, we do love the fact that Midland National offers affordable coverage and makes the process easy for the consumer with a very easy to complete the application process.
Additionally, we tend to love companies that fly under the radar and offer such great products and service to their clients. If Midland National is a life insurance company that you prefer to work with, it’s always a great idea to allow an independent agent to help you through the process.
Doing so is going to ensure an expert can help you locate the policy that you are the most likely to be approved for and help you to discover the cheapest possible pricing for your life insurance. It’s a win-win for everyone involved and the only way to go if you were to ask us.
Midland National is Impressive, but Other Options
While we have nothing negative we could say about Midland National, we are aware and recommend always shopping around. Some individuals have health concerns that need to be considered, and Midland National may not be the best company for you.
Like we stated before, it’s always best to compare rates with all life insurance companies with an independent agent before making your final decision.
However, coverage for your family is the number 1 goal so regardless of which path you take, ensure you always have that goal remaining top of mind.
Spectrum Insurance Group is made up of professional life insurance agents who are licensed in all 50 states and the District of Columbia. As principal licensed life insurance agent Bennett Bier has helped 1000’s of people purchase life insurance online & over the phone. During his career he has become the go to expert for securing hard to place term and permanent life insurance policies for clients across the nation. With his wealth of knowledge of each life insurance carrier’s products and underwriting he provides honest answers and advice to every client. Bennett Bier and his team will work tirelessly to successfully secure the coverage your family deserves.
All content on this site has been written by life insurance experts & licensed life insurance agents.