Midland National Life

Midland National Life Review If you decided to get life insurance and are wondering if Midland National is a good pick, you’ve come to their right place. We work with a large number of companies and do reviews quite often. Will help you get a good idea about the companies rating, products and whether or not they are the best choice for you. Here is a quick summary:

Midland National didn’t start out with that name when they were founded, they were called the Dakota Mutual Life Insurance Company and was founded in Lead, South Dakota in 1906.
They offer term life, whole life, universal life, variable universal life and indexed universal life insurance products.
The company was selected as one of Ward’s 2016 top 50 Life and Health insurance companies.
According to A.M Best, they gave Midland National Life an “A+” or superior based on their strong risk adjusting and their well-establishment and focused growth strategy. Standard & Poor’s rated the company an “A+” as well, based on their financial strength.
Even BBB, the Better Business Bureau gave them an “A+” or stable because of their strong business profile and strong financial risk profile.
If you are looking for an annuity plan then you would be glad to know that Midland National Life offers 3 different annuity options. Fixed Index, Traditional Fixed, and Immediate annuities.
Annuities are investment options that are designed to grow funds and later provide a stream of payments to you.

Midland National Life Insurance Company Review 2017

It can be difficult trying to find the best life insurance company for yourself when there are so many out there to choose from. Midland National Life Insurance Company has founded over 100 years ago and they look like they aren’t going anywhere anytime soon. The company has several services and products that they offer from life insurance and annuities. They offer term life, whole life, universal life, variable universal life and indexed universal life insurance products. The company was selected as one of Ward’s 2016 top 50 Life and Health insurance companies. According to A.M Best, they gave Midland National Life an “A+” or superior based on their strong risk adjusting and their well-establishment and focused growth strategy. Standard & Poor’s rated the company an “A+” as well, based on their financial strength. Even BBB, the Better Business Bureau gave them an “A+” or stable because of their strong business profile and strong financial risk profile.

Midland National Life Insurance Company’s Products

Like we mentioned before, Midland National Life Insurance Company offers a variety of life insurance products. The following are life insurance products that are offered by Midland National.

Term life Insurance

Term life is a short duration coverage, unlike whole life.
Term policies offer no cash value because they strictly focus on death benefit protection.
Premiums are leveled which means they will not change throughout the life of your policy.
You can choose different term lenghts like 10, 15, 20, or 30-years.
Term life insurance is the most affordable life insurance on the market since it doesn’t offer a cash value opportunity and chances are low for the risk of your death within the short period of time.

Whole Life Insurance

Whole life is a lifetime coverage that is locked in until age 100.
Premiums are level for these policies which again means that the premiums will never change.
There are a guaranteed interest rate and a guaranteed death benefit.
You have the opportunity of building cash value and accumulating your cash value.
Cash value accumulated is also tax-deferred so you don’t have to pay taxes on the cash accumulated.

Universal Life Insurance

Universal life is a different type of permanent life insurance plan that can provide cover until age 90, 100 or 121.
Universal life is a flexible policy which means that you can have this policy with 100% flexibility to fit your every day changing lives.
You can adjust your premiums and death benefit if anything changes in your life.
These policies also offer the opportunity to accumulate your cash value on a tax-deferred basis.

Indexed Universal Life Insurance

Indexed universal life is another form of permanent life insurance which provides coverage for your entire life.
This product offers investment opportunities.
Your cash value grows based on indexing.
Since it’s still a universal life insurance policy you still have the opportunity of being flexible when it comes to the premiums and death benefit.
Cash value accumulated is also tax-deferred so you don’t have to pay taxes on the cash accumulated.
The Index account provides a floor of 0% so if the market is under you won’t lose any money.

Variable Universal Life Insurance

Variable is just like whole life and other types of universal life just has a diffent investment set up.
Variable universal is designed to provide solid death benefit protection for cash accumulation.
Since it’s still a universal life insurance policy you still have the opportunity of being flexible when it comes to the premiums and death benefit.
Cash value accumulated is also tax-deferred so you don’t have to pay taxes on the cash accumulated.
This is an investment policy and you will have a separate account with investment portfolios to create life insurance products that you can tailor to your insurance needs.
There are risks included with this kind of insurance.

Annuities

Annuities are an excellent tool to help you plan for your financial future. If you are looking for an annuity plan then you would be glad to know that Midland National Life offers 3 different annuity options. Fixed Index, Traditional Fixed, and Immediate annuities. Annuities are investment options that are designed to grow funds and later provide a stream of payments to you.

Fixed Index Annuities

Fixed annuities are market linked which means that there will be growth without the risk of loss of premium.
You will be guaranteed lifetime income.
What you grow will be tax-deferred which means that you will not have to pay taxes on that.

Immediate Annuities

You can purchase this plan with a single payment.
This plan provides an income stream immediately.
Your income stream will be determined by the initial principal amount and the length of the time the payout continues.

Traditional Fixed Annuities

This is most simple of all annuity plans because it is a low-risk retirement planning tool.
This plan protects your principal and allows your investment to grow with time.
Your retirement savings become interest credited at an unchanging stated rate.
The savings you will accumulate will receive the credited interest unless you choose to receive timed payments.

Work With Us!

Midland National is a good company but you have a lot of options. Before going with any company you should check the entire marketplace to get a good idea of what’s going on. Here at InsureChance, we work with over 60 top rated insurers so feel free to use one of our quote engines or call us at 888.492.1967!