Midland National Life Insurance Company Review

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While its policy options are limited and customer experience ratings vary, Midland National Life Insurance Company is a financially strong choice of insurer offering large death benefits.

A.M. Best




J.D. Power


The Good

  • Financial security
  • Large face amounts
  • Online term quotes
  • Additional products

The Bad

  • Limited product availability
  • Mixed user experience ratings
  • Lack of brand recognition
  • Vague policy information online

Product Availability

Policy Types
  • Term
  • Guaranteed Universal
  • Indexed Universal
  • Accelerated death benefit
  • Accidental death benefit
  • Children’s insurance





Financial Strength


User Experience


Product Availability





One of the key considerations when you purchase life insurance is cost.

Rates are based on factors such as your:

  • Age
  • Gender
  • Weight
  • Health
  • Family history

Depending on your risk factors and the type and level of coverage you need, your rates could look pretty different from one company to the next.

Based on Midland National’s online quotes and J.D. Power’s assessment, the company’s life insurance rates are above average for most applicants.

Young and healthy applicants are likely to secure the best rates the company has to offer.

Financial Strength

In addition to choosing an affordable carrier, it’s also crucial to choose a financially stable one.

Life insurance is one of the most significant purchases you can make, which your family could depend on to survive.

So it’s vital to select an insurer you can depend on to meets its financial obligations.

A key measure of a life insurance company’s solvency is a credit rating.

Credit rating agencies monitor a company’s financial performance and predict its outlook for the future.

Midland National has top tier ratings from three of the premier agencies:

A.M. BestA+
Standard & Poor’sA+

The company also has over $67 billion in assets.

Based on the company’s claims-paying history, financial performance, and credit ratings, Midland National is a dependable pick.

User Experience

User experience can make or break a company.

Since you and your family could be dealing with your life insurance carrier for decades, it’s important to choose a provider known for creating a positive experience for its customers.

Our assessment of Midland National’s user experience is based on third-party ratings, the company’s website, and its application process.


Two of the best indicators of a life insurance company’s user experience are J.D. Power’s individual life insurance survey and the Better Business Bureau’s rating.

J.D. Power’s survey ranks 23 of the nation’s life insurance companies based on customer satisfaction.

Midland National ranked 21st in the J.D. Power survey, scoring below the national average.

While its J.D. Power rating is below average, Midland National has an “A+” rating from the Better Business Bureau.


Midland National’s website is easy to use and provides basic information to help shoppers through the purchase of buying life insurance, with the features below:

  • Policy information: The site gives a quick overview of each policy on offer but fails to include any details like face amounts or eligibility requirements.
  • Policy management: Policyholders can create an online account to view their policy, make payments, and download policy change forms.
  • Company overview: The site also presents an overview of the company’s history, leadership, and financial performance.
  • Quotes: Insurance shoppers can get quotes for term policies online, but not permanent.
  • Educational resources: The site features blog articles to educate readers on financial planning.


The Midland National application process for life insurance is straightforward.

After contacting an agent, you’ll be asked to provide your personal information and answer some basic questions about your health and coverage needs.

With Midland National’s traditional underwriting, you’ll be required to complete a more extensive application with an agent and undergo a medical exam.

Your application will be reviewed within 4 to 6 weeks after completion.

Midland National now offers accelerated underwriting for some of its policies. Depending on your age, overall health, and coverage needs, you may be eligible to skip the medical exam.

Product Availability

Midland National Life Insurance Company offers three types of life insurance:

  • Term
  • Guaranteed Universal
  • Indexed Universal


Term life insurance is the simplest and most affordable type of life insurance.

With a term policy, you choose a coverage period and make premium payments.

If you pass away during your term, the death benefit is paid out to your beneficiaries.

Midland National offers 10, 15, 20, and 30-year terms.

The website allows you to compare quotes for $100,000 to $5 million of coverage, with smaller and larger policy amounts available for some applicants.

Guaranteed Universal

Guaranteed universal life insurance is a suitable alternative to term life if you have permanent coverage needs.

Unlike term life insurance, it comes with a lifelong death benefit guarantee, as long as you keep up with premiums.

Your rates are also locked in from day one, regardless of changes to your health.

Because GUL policies are not focused on accruing cash value, they are more affordable than other permanent policies.

Indexed Universal

Midland National’s indexed universal policies offer a death benefit, plus the opportunity to access an interest-bearing cash value account.

Indexed universal policies can also offer lifelong coverage, allowing you to adjust your coverage as your needs change throughout life.

With an indexed policy, your cash value growth is linked to the performance of a stock market index, such as the S&P 500 or NASDAQ-100.


Midland National Life Insurance Company’s history dates back to 1906 when it was founded in Sioux Falls.

Over a century later, the company is still headquartered in South Dakota.

Midland National is owned by Sammons Financial Group, Inc. (SFG), a privately held company.

In addition to life insurance, Midland National offers a range of annuity options.

Today, the company boasts over 1 million life and annuity policies in force, paying out more than $638 million in death benefits in 2020.

Brand Recognition

Despite its long and successful history in the life insurance industry, Midland National is not the most recognizable name.

The company does not market on the same level as some of the nation’s most well-known life insurance carriers.

Nor does Midland National note many community partnerships or philanthropic endeavors online.

However, Sammons Financial, Midland National’s parent company, does partner with local organizations across the nation, donating charitable funds, employee matches, and service hours.

Midland National actively shares content and interacts with customers on Twitter, Facebook, and Youtube, as well.


It’s always a good idea to get a second opinion when you purchase life insurance.

In addition to evaluating Midland National’s features ourselves, we’ve also factored in other expert opinions from across the industry.

More often than not, Midland National is not rated as one of the best life insurance companies.

There’s a lot of competition in the life insurance industry, and you may be able to find more versatile policy options and affordable rates from another provider.

Regardless, Midland National is a solid choice in terms of both financial strength and the coverage it offers.

While they aren’t necessarily innovative, they hold strong in what has always worked for them.

Midland National Life Insurance Company Review

(800) 923-3223
One Sammons Plaza
Sioux Falls, SD 57193

Company Name (and subsidiaries)

  • Midland National
  • Sammons Financial Group
  • Sammons Corporate Markets
  • Sammons Retirement Solutions


Jason Fisher

Jason Fisher is the founder and CEO of BestLifeRates.org, LLC. and a multi-state licensed life insurance agent who has helped over a million Americans seek out affordable coverage, compare quotes, or get their family and businesses covered.