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Midland National Life Insurance
About the Company
Midland National Life Insurance's mission statement is as follows:"To make life better for individuals and families. To afford security, trust, superior value, and peace of mind to those we serve. To offer the best in financial resources and services."
Midland National Life was founded in 1906 as Dakota Mutual Life Insurance Company. In 1909 the company was reorganized as a stock company, and changed its name to Midland National Life Insurance company in 1925. The company has survived two world wars, the Great Depression, and a number of other turns in the economy, but they have remained a strong financial company.
Midland National Life is based in Sioux Falls, South Dakota. They are a member of the Insurance Marketplace Standards Association.
Term Life Insurance Products
Midland National Life's Term Life products offer the following features and benefits:
- Many term life policies are convertible, which means that you can buy a term life product now, and change it to a Permanent Life product later.
- You are not required to provide evidence of insurability if you choose to convert your policy.
- Premiums for term life policies are lower than permanent life policies.
- This policy is ideal for people who want affordable, temporary coverage.
- Term policies do not accumulate a cash value.
- Your beneficiary will only receive a death benefit if you pass on while your policy is in effect. If your policy expires before you pass on, your beneficiary will not receive your death benefit.
Midland National Life Financial Ratings
A.M. Best: A+ (Superior). Midland National Life has received this score from A.M. Best since 1979.
Standard & Poor's: AA (Very Strong)
Weiss Ratings: A- (Excellent)
Named in Ward's 50 Benchmark Group
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