Midland National offers term and universal life insurance products. Compare policy features to determine which fits your family's needs.
Midland National Life Insurance Review 2026
Midland National offers competitive life insurance rates and policy options that meet your family’s needs. It has an overall MoneyGeek score of 3.7 out of 5.
Read our Midland National life insurance review below.
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Updated: April 2, 2026
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At a Glance: Midland National Life Insurance Review
Midland National
MoneyGeek Rating
3.7/ 5
3.5/5Affordability
3.9/5Customer Experience
3.9/5Coverage Points
Average Monthly Cost
$54 (women); $66 (men)Based on 20-year term policy with $500,000 coverage amount for a 40-year-old nonsmoker with average weight and health.Ages Supported (Term)
18-75Ages Supported (Universal)
15 days-85 years old
Midland National Life Insurance Options
Term Life Insurance
Midland National offers Premier Term life insurance with four term lengths: 10, 15, 20 and 30 years. Coverage ranges from $100,000 to $10 million.
Premier Term
Premier Term provides level premiums for 10 to 30 years, depending on your issue age, with a $100,000 minimum face amount. Policies include accelerated death benefits for critical, chronic and terminal illnesses. You can convert to permanent coverage.
Term life insurance works well for younger buyers, new families and recent homeowners. Compared to permanent policies, term coverage costs less while providing financial protection during high-obligation years.
Universal Life Insurance
Universal life insurance from Midland National combines a death benefit with an investment component that builds cash value over time. Policyholders control premium amounts and can adjust death benefits as financial situations change. The cash value grows tax-deferred and can supplement your retirement income later.
Essential Guaranteed UL 5
Essential Guaranteed UL 5 guarantees your death benefit to age 120 without focusing on cash value growth. The Premium Recovery Endorsement returns part or all of your premiums if you surrender during 60-day windows after years 15, 20 and 25. You can switch to indexed universal life products later without medical exams or surrender penalties. Pay your premiums over 5, 7 or 10 years instead of paying for life.
Universal life insurance policies could be the best option if you're looking for permanent life insurance coverage that can adapt to your changing insurance needs.
Indexed Universal Life Insurance
Indexed universal life insurance links your cash value growth to stock market indexes like the S&P 500 while protecting you from losses when markets decline. Your money earns interest based on index performance up to a cap, with a guaranteed floor of zero percent, meaning you never lose cash value from negative market returns.
Strategic Protector IUL 2
Strategic Protector IUL 2 targets buyers wanting affordable indexed universal life with lower face amounts. The product works well for single-premium or short-pay scenarios. Cash value grows through market index credits plus bonus interest on fixed and indexed accounts. You can borrow starting in year one, with zero-cost loans available after year six.
Strategic Protector IUL 2 with Premium Guarantee Rider
Adding the Premium Guarantee Rider extends death benefit protection to age 120 regardless of market performance. Adjust the guarantee length by changing the premium payments. The Premium Recovery Endorsement returns some or all premiums at specific anniversaries. The Fidelity Multifactor Yield Index earns bonus interest. Zero-cost loans start after year six.
Strategic Accumulator IUL 3
Strategic Accumulator IUL 3 maximizes cash value for aggressive funders wanting retirement income. Multiple interest bonuses layer on base returns. Fixed and indexed accounts earn bonuses after year 11. Borrowed money earns a guaranteed 0.50% bonus interest annually. Choose fixed or variable loans starting in year three. Withdraw 10% annually penalty-free starting year two.
Strategic Accelerator IUL 3 with Waiver of Surrender Charge Option
Strategic Accelerator IUL 3 eliminates premium loads and surrender charges when electing the Waiver of Surrender Charge Option at application. More premium builds cash value immediately. Without the waiver, you face 10-year surrender charges. Take loans starting in year three. Withdraw 10% annually starting year two with no fees if the waiver is elected.
IUL works best if you want permanent coverage with higher growth potential than traditional universal life and can afford premiums beyond the minimum required to keep your policy active.
MIDLAND NATIONAL WHOLE LIFE INSURANCE
Midland National's parent company, Sammons Financial, mentions whole life insurance among the products Midland National offers. Contact a licensed agent to confirm which permanent life insurance options Midland National offers in your area and find the coverage that fits your needs.
Midland National’s Life Insurance Riders
Riders are features you can add to your insurance policy for an extra cost. They can help tailor your insurance plan to your specific needs. Midland National offers the following riders:
Rider | Description |
|---|---|
Accidental Death Benefit | Provides additional death benefit if death results directly from accidental bodily injury within 180 days. |
Child's Term Life Insurance | Provides level term insurance on each child's life from 15 days old until the policy anniversary following the child's 23rd birthday. |
Flexible Disability Benefit | Provides disability benefit while waiving current costs of insurance and expense charges, but not beyond age 65. Available only when the Waiver of Charges Rider included. |
Guaranteed Insurability | Provides an option to increase death benefit coverage by specified amounts without evidence of insurability on specific policy anniversaries. |
Premium Guarantee | Extends death benefit guarantee to any age up to 120. Can be added only at issue and available for all issue ages. |
Waiver of Charges Disability Benefit | Waives monthly deductions used to pay monthly cost of insurance plus charges during total disability of insured. |
Waiver of Term Premium for Disability | Waives premium payments if total disability begins before policy age 60 and continues for 180 consecutive days. |
How Much Does Midland National Life Insurance Cost?
Your life insurance costs depend on your age, health, coverage amount and policy type. Younger, healthier buyers pay less than older applicants or those with medical conditions. Your lifestyle choices also matter, with tobacco users paying more than non-smokers do, and risky hobbies like skydiving can increase your premiums.
Here are the average rates for Midland National's term and universal policies across different coverage amounts and ages:
Midland National Term Life Insurance Cost
Data filtered by:
20
40
Female
No
| $100,000 | $19 | $223 |
| $250,000 | $34 | $408 |
| $500,000 | $54 | $644 |
| $750,000 | $76 | $907 |
| $1,000,000 | $96 | $1,156 |
| $2,000,000 | $188 | $2,254 |
| $3,000,000 | $278 | $3,332 |
| $5,000,000 | $459 | $5,507 |
| $10,000,000 | $908 | $10,891 |
Midland National Universal Life Insurance
Data filtered by:
40
Female
No
| $100,000 | $59 | $708 |
| $250,000 | $138 | $1,652 |
| $500,000 | $269 | $3,225 |
| $750,000 | $387 | $4,648 |
| $1,000,000 | $502 | $6,024 |
| $2,000,000 | $999 | $11,993 |
| $3,000,000 | $1,495 | $17,942 |
| $5,000,000 | $2,488 | $29,860 |
| $10,000,000 | $4,967 | $59,602 |
Rates shown are based on MoneyGeek's 2026 survey of major life insurance providers and represent average market pricing. Individual quotes may vary based on health, lifestyle and underwriting factors.
How to Get Midland National Life Insurance
Ready to apply for Midland National coverage? Here's how the process works.
- 1Do your research
Researching life insurance statistics provides valuable insights into market trends and consumer behavior. Conducting research helps you select the life insurance policy that best fits your needs.
- 2Compare quotes
Getting quotes from different providers helps you make an informed decision about buying life insurance. Compare policy features, coverage limits and prices to find the best policy for your needs and budget.
- 3Health check
Health checks, also known as medical exams, help life insurance companies determine the risk of applicants and set appropriate premiums.
- 4Approval
Once Midland National approves your application, you'll receive your policy. Meet with your agent to go through your policy details.
WHAT TO DO IF MIDLAND NATIONAL DENIES YOU COVERAGE
If you're denied coverage, ask the insurance company why. You may be able to address the factors that led to your denial by making lifestyle changes, for example.
Lifestyle changes like quitting smoking, losing weight and exercising regularly can improve your health and lower the risk of developing serious medical conditions. Making these changes can increase your chances of approval and lower your premiums.
Final expense insurance is an option for those seeking coverage for end-of-life expenses. Some final expense insurance policies don't require a medical exam or health questions, but they come with a higher price tag and more limited coverage options.
Midland National Claims Process
After the insured's death, call Midland National at 800-923-3223 or contact your agent to start the claims process. The company will walk you through what's needed from there.
You'll submit a completed claim form and a certified copy of the death certificate. Depending on the policy and circumstances, Midland National may also ask for medical records, beneficiary identification or proof of relationship to the deceased. Once it has everything, the company reviews claims promptly.
Midland National pays death benefits directly to named beneficiaries through check, electronic transfer or by establishing an interest-bearing account that beneficiaries can access.
If your policy includes riders like the Accelerated Death Benefit for critical, chronic or terminal illness, you can file claims while the insured is still living by providing medical documentation proving eligibility.
Midland National Life Insurance vs. Other Insurers
If you're exploring universal life insurance options, you can consider Midland National. The company offers various indexed universal life policies, which combine a death benefit with a cash value component that can grow based on market index performance.
If you’re looking for affordable temporary financial protection, explore other insurers. Check out our best term life insurance rankings to get started.
Midland National also doesn't offer whole life insurance as a core product. If you want guaranteed cash value accumulation with fixed premiums, other insurers work better for you. MoneyGeek's best whole life insurance guide covers companies with stronger whole life lineups.
Comparing companies across affordability, product range and customer experience remains the most reliable way to identify the best life insurance for your situation.
Is Midland National Life Insurance Right for You?
Midland National offers term and universal life insurance. Policies are available from $100,000 to $5 million. Based on our Midland National life insurance review, the company works well for people looking for policies they can modify or upgrade to meet their needs over time. It's among the best universal life insurance companies in MoneyGeek's 2026 ranking of major insurers.
Midland National Life Insurance Policies: FAQ
MoneyGeek answers commonly asked questions about Midland National life insurance:
Can I borrow against my Midland National life policy?
Yes, you can borrow from your Midland National life insurance policy, but doing so will reduce its cash value and death benefit, and you'll need to pay interest on the policy loan. Policyholders should consult their tax advisor or attorney for details on policy loans and withdrawals.
Do life insurance policies from Midland National pay dividends?
Yes, life insurance policies from Midland National may pay dividends. The number of dividends paid may vary depending on the policy, but dividends are usually paid once per year.
Can you get life insurance from Midland National if you have cancer?
The type and stage of cancer, along with your treatment status, impact coverage availability and cost of life insurance from Midland National. Contact an agent to discuss your options.
Do life insurance policies from Midland National cover death by suicide?
Life insurance policies from Midland National may provide coverage for suicide, but many policies have provisions that limit the payment of death benefits in these circumstances. Benefits may also be denied during a contestability period, which is often the policy’s first two years.
The specific terms and conditions of coverage for suicide can vary depending on the policy, so review the policy documents or speak with a Midland National agent for more information.
MoneyGeek evaluated Midland National using a baseline profile of a 40-year-old male nonsmoker in average health seeking $500,000 in coverage on a 20-year term. We collected quotes for various profiles and coverage limits. Rates shown are estimates and may vary based on individual circumstances, location, and current market conditions.
The MoneyGeek score is based on affordability at 50%, customer experience at 30% and coverage options at 20%. Customer experience inputs include J.D. Power satisfaction scores, online customer ratings, AM Best financial strength ratings and NAIC complaint index data.
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About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- Midland National. "What Type of Life Insurance Is Right for You?." Accessed March 31, 2026.
- Midland National. "Products at a Glance." Accessed March 31, 2026.
- Midland National. "Riders Guide." Accessed March 31, 2026.
- Midland National. "Essential Guaranteed Universal Life." Accessed March 31, 2026.
- Sammons Financial Group. "About Midland National® Life Insurance Company." Accessed March 31, 2026.