Midland National offers only a few types of life insurance, which may fit the needs of some policyholders but leave others in need of riders to get adequate coverage. The carrier started offering life insurance coverage in 1906 and now sells policies in 49 states (coverage is not available in New York), Washington, D.C., Puerto Rico, Guam, the Virgin Islands, and both domestic and international military installations. It doesn’t offer family life insurance.
Owned by the Sammons Financial Group, Midland National also offers annuities in addition to life insurance products. Bankrate’s Midland National life insurance review could help you understand this carrier’s coverage offerings so you can decide if the company is the best life insurance option for you.
Midland National has three types of life insurance: term, guaranteed universal life and indexed universal life. However, you may find that, depending on your needs and the state you live in, different products are available aside from the ones showcased on Midland National’s website. Talking to a Midland National Life Insurance Company representative is the best way to know what options are available to you.
- Term: Midland National Life Insurance Company provides term life insurance options, which are active for a set period — 10, 15, 20 or 30 years — and feature consistent premium payments. Policyholders might have the opportunity to convert their term insurance into permanent coverage before the term expires. Typically, term life insurance premiums increase with age, making it a more attractive option for younger individuals, such as those with young families. Additionally, some of these term policies offer the ability to access a portion of the death benefit during the policyholder's lifetime.
- Permanent: Permanent insurance gives you coverage until you pass away; it doesn’t expire like term insurance does, as long as you pay the premiums. Midland National offers two types of permanent life insurance policies: guaranteed universal life and indexed universal life. No whole life insurance is available.
- Universal: Midland National offers guaranteed universal life insurance, which is a very basic form of permanent life insurance. It’s designed to provide lifelong coverage at a more affordable rate — compared to other permanent types — and generally does not build much cash value.
- Indexed universal: This type of policy invests the cash value portion into an index, like the Standard & Poor’s (S&P) 500 or the Dow Jones Industrial Average. It’s a more complex type of life insurance, so if you are interested, talk to a licensed agent.
Midland National pros and cons
It’s important to understand Midland National policies and how life insurance works before deciding to buy coverage. If you can’t get adequate coverage for your personal circumstances, the payout may not be enough to support your beneficiaries. You may also want to ensure you can afford the premiums because if you fall behind, your policy can be canceled. A life insurance calculator may help you determine the right amount.
If you are shopping for the best life insurance company, you may want to reach out to several different providers and compare quotes. If you aren’t quite sure if Midland National is the right insurer for you, here are some other carriers to consider:
Midland National vs. MassMutual
MassMutual has won our Bankrate Award for best whole life insurance three years in a row — 2022, 2023 and 2024 — thanks to its high coverage capacity and extensive rider options. If you're in the market for whole life insurance, as opposed to Midland National’s universal life offerings, MassMutual could be a strong choice to explore.
Midland National vs. State Farm
If you like Midland National’s term life insurance options and its network of local agents, you could also get a quote from State Farm. The company won our Bankrate Award for best term life insurance in 2022, 2023 and 2024, highlighting its strong coverage and customer satisfaction.
Midland National vs. Globe Life
This carrier might be a good alternative if you are looking for coverage that isn’t based on your ability to pass a medical exam. Although Globe Life’s policies have health questionnaires, most of its life insurance offerings can be purchased without a medical exam.
Our Midland National life insurance review analyzed the company from several angles to help you understand if it's the right fit for you. Our insurance editorial team understands the features that matter most to life insurance shoppers, and our goal is to provide you with the information you need to make an informed decision.
Midland National could be a good insurance company if you are specifically looking for universal life insurance with plenty of rider options. While the company offers term coverage, its policies don’t stand out among competitors. Additionally, Midland National life insurance has a below-average customer satisfaction rating with J.D Power but also has below-average complaints filed with the NAIC. This conflicting information might make it helpful to talk with current policyholders as you compare life insurance quotes and choose a company.
What are real-life customers saying about Midland National?
In an effort to provide more insight into the Midland National customer experience, we sourced reviews from platforms like Yelp and Reddit. While some customers have shared positive experiences, others have voiced frustrations with policy handling and claims processing. It’s important to note that online reviews can sometimes reflect a disproportionate number of negative experiences, as customers often leave feedback when they are unhappy. However, these perspectives provide useful insights into customer service and claims processes.
Let’s take a look at what real customers have to say:
*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.
Midland National company details
- Customer service: 1-800-923-3223
- Email service: LifeCorrespondence@SFGmembers.com
- Claims: 1-800-733-2524
- Mailing address:
One Sammons Plaza
Sioux Falls, SD 57193
- Mailing address:
State availability
Midland National sells coverage in all U.S. states except New York. Coverage is also available in Washington, D.C., Puerto Rico, Guam, the Virgin Islands and military installations around the world.
Midland National tools and benefits
In addition to life insurance, Midland National offers several annuity products and a large learning library that anyone can access:
- Multi-year guarantee annuities (MYGAs): This is a fixed annuity that pays a guaranteed interest rate over multiple years.
- Single-premium immediate annuities (SPIAs): This type of annuity starts paying a guaranteed stream of income immediately following the annuitant’s lump sum payment and will pay this income either for the rest of the annuitant’s life or a predetermined period.
- Fixed-indexed annuities (FIAs): This type of annuity credits interest to the contract based upon the performance of an underlying financial benchmark index, such as the S&P 500.
- Learn and plan center: Midland National has a large resource center where customers and non-customers can learn about insurance and financial planning. Topics include annuities, money management, retirement planning and financial literacy.
You can speak with one of Midland National’s financial professionals to determine which products make the most sense for your situation and financial goals.