Company Address: One Sammons Place
Sioux Falls, SD 57193
Hours: Monday – Thursday 7:30 AM – 5 PM Central Time and Friday 7:30 AM to 12 PM CT
Midland National Life Insurance operates in 49 states offering a large variety of products to help clients with death benefits, retirement, and savings for future expenses. Their focus is on long-term growth, enabling its clients to reach their financial goals in the future by saving now.
Midland National Life Insurance began in 1906 as Dakota Mutual Life Insurance Company. It received its current name in 1925, after surpassing the risks of World War I and the Great Depression, continuing to thrive despite the odds. Midland National Life Insurance Company’s goal has always been to provide affordable products for clients while continuing to provide new and innovative products to meet the needs of tomorrow. Midland National continues to show their strength and vitality throughout the years, celebrating their 100th anniversary in 2006.
Midland Life Insurance offers a variety of insurance products to meet the needs of a variety of clients. They offer traditional term and whole life insurance, providing clients with a guaranteed death benefit to ensure that their loved ones are taken care of upon their passing. They also offer products that help to prepare clients for retirement and the enjoyment of their investments during their golden years. These products include Universal Life, Indexed Universal Life, and Variable Universal Life, each of which offers a unique perspective on investment along with a guarantee for a portion of the investment for peace of mind.
Midland Life Insurance Company knows how to change with the times. With the extensive history dating all the way back to 1906, they have seen the many ups and downs the economy has gone through as well as the changes individual investors have gone through themselves. They have learned to adapt to every change, enabling their clients to continue to reap the benefits of life insurance and retirement planning. Their extensive knowledge of a volatile history helps their clients “roll with the punches” and learn to come out on the other side.
Recently Midland National Life Insurance Company was involved in a $1.3 million lawsuit that pertained to falsely advertising products to the elderly. The lawsuit claimed that elderly clients were unnecessarily targeted and were not properly educated on the products they were purchasing. The clients were also not informed that they would most likely not be able to use their benefits because of the length of time necessary to pass before they were eligible for benefits.
One of the popular products Midland National Life Insurance Company offers is the Indexed Universal Life Insurance product. This investment enables clients to invest money that will accumulate over time while guaranteeing a death benefit. The product directly correlates with the stock market but is not directly invested in it, giving clients the best of both worlds. In addition, the product carries a floor of 0 percent, which means clients will not lose money on their investment even if they do not gain any cash.
Midland National Life employs people with a thorough understanding of the insurance industry along with those that work well with people. They understand the sensitive nature of purchasing life insurance products and make sure that each employee can positively influence and help clients meet their retirement and death benefit needs.
Midland National Life Insurance Company received superior ratings from A.M Best with a rating of A+ and they also received an A+ rating from Standard & Poors.