September 22, 2017 1:58 PM ET

Insurance

Company Overview of Midland National Life Insurance Company, Inc.

Company Overview

Midland National Life Insurance Company, Inc. provides various life insurance products and services. The company offers term, universal, whole, and variable universal life insurance, and annuities. It also provides personal financial planning services in the areas of life insurance, retirement planning, and financial calculators. The company was formerly known as Dakota Mutual Life Insurance Company and changed its name to Midland National Life Insurance Company, Inc. in 1925. The company was founded in 1906 and is based in Sioux Falls, South Dakota. It has additional locations in the United States, the District of Columbia, Puerto Rico, Guam, the Virgin Islands, and the island of Anguilla. ...

One Sammons Plaza

Sioux Falls, SD 57193

United States

Founded in 1906

Phone:

605-335-5700

Fax:

605-335-3621

Key Executives for Midland National Life Insurance Company, Inc.

Chairman and Chief Executive Officer
President and Chief Operating Officer
Chief Compliance Officer, Chief Risk Officer and Vice President
Chief Distribution Officer and Vice President
Vice President of Policy Administration
Compensation as of Fiscal Year 2017.

Midland National Life Insurance Company, Inc. Key Developments

Midland National Releases XL Heritage Indexed Universal Life Insurance Product

Midland National Life Insurance Company, Inc. 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 premium, XL Heritage touts desirable features like liquidity and living benefits. 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. 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 insured. 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.

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