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Midland National life insurance review 2023

Updated Mar 09, 2023

At a glance

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Bottom Line

Midland Life Insurance Company could be a good choice for those looking for term or universal life insurance and those who prefer working with a local agent. However, the company’s digital offerings are not as robust as those of other carriers, and its product line is relatively limited.

  • Near nationwide availability

  • Lower-than-baseline NAIC complaint index

  • High financial strength rating from AM Best, S&P and Fitch

  • Fewer policy options than some other providers

  • Lower-than-average J.D. Power customer satisfaction score

  • Only term policies can be quoted online

Midland National life insurance

Midland National offers only a few types of life insurance, which may fit the needs of some policyholders but leave others wanting something additional. The carrier started offering coverage in 1906 and now sells coverage 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. 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 life insurance comes in three forms: 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 offers term life insurance, which stays in effect for a predetermined amount of time and comes with a level premium payment. Depending on the policy, policyholders may have the option to convert their term policy to permanent life insurance before the end of the term. Term life insurance can get pricier with age, so it is generally viewed as a product geared toward younger applicants, including young families.
  • 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’s basic universal life insurance offering is called “guaranteed universal life” but doesn’t appear to be a guaranteed-issue policy. Rather, the “guarantee” is that the policy will provide a death benefit as long as your premiums are paid, which is essentially a feature of all life insurance policies.
    • 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.
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This advertising widget is powered by, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. LLC services are only available in states where it is licensed and insurance coverage through may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Midland National life insurance endorsements

Life insurance riders, also called endorsements, are add-ons that can give you more coverage. Adding a rider will generally increase the cost of life insurance, so it may not be the right choice if your main objective is to find cheap life insurance coverage. However, riders can give you valuable protections that might make up for the extra premium. Midland National’s riders include:

Midland National life tools and benefits

Midland National Life Insurance Company has a network of around 60,000 agents across the U.S. If you feel more comfortable handling your life insurance needs in person, Midland National might be a good choice. An agent may be able to help you decide how much life insurance you need and what products are best for you and your family. Midland National offers term life insurance quotes online (although there is no life insurance calculator available), but its other policy types must be quoted by and sold through its network of agents.

Midland National customer satisfaction

According to the National Association of Insurance Commissioners (NAIC), Midland National Insurance Company receives significantly fewer complaints than the industry baseline. A score of 1.00 represents an average number of complaints, while Midland National’s Complaint Index for individual life insurance is 0.37. Consumer-data analytics company J.D. Power has another story to tell, however. In the 2022 U.S. Individual Life Insurance Study, Midland National received a score of 752/1,000, significantly lower than the industry average of 774/1,000. This could indicate that consumers tend to have poor service interactions with the company.

Midland National typically receives high financial strength ratings, which means that customers may be able to feel confident it has a solid financial history. AM Best, S&P and Fitch all give the company an A+ financial strength rating. This means that, historically, Midland National has been financially stable and able to pay claims, which may give you peace of mind.

How to file a claim with Midland National

If you have a life insurance policy with Midland National, you may want to let your beneficiary know where your policy information can be found and how to file a claim. The process can be emotional; if your beneficiary has all the information readily available, it can make the time a bit easier. To file a claim, your beneficiary can:

Your beneficiary will likely need your policy number and date of death, your death certificate, and their own contact information such as their name, phone number and address.

Midland National availability

Midland National is widely available, selling coverage in 49 states and Washington, D.C., Puerto Rico, Guam, the Virgin Islands and military installations around the world. New York is the only state in the U.S. where Midland National life insurance is not available.

Other Midland National perks worth considering

In addition to life insurance, Midland National offers several annuity products:

  • 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.

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.

Midland National corporate sustainability

Midland National is owned by Sammons Financial Group, which experienced a record-breaking year in 2021 in regard to community giving. The company donated over $3.75 million to charitable causes, and employees invested over 5,500 hours of volunteer time. The company specifically focused on charitable organizations dedicated to homelessness, hunger, diversity and inclusion, education, and those that support people with intellectual and developmental disabilities and unique healthcare requirements.

2021 also brought the launch of Sammons Financial’s Legacy Project. Created in partnership with the Principal Charity Classic, the Legacy Project funds charitable donations to organizations that have defined commitments to diversity, equity and inclusion (DEI) outcomes.

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 won our Bankrate Award in both 2022 and 2023 for best whole life insurance due to its high coverage capacity and numerous riders. If you’re in the market for whole life, as opposed to Midland National’s universal life offerings, MassMutual could be a good option.

Learn more: MassMutual Life Insurance review

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 in 2022 and 2023 for best term life insurance company.

Learn more: State Farm Insurance review

Midland National vs. Globe Life

This carrier might be a good alternative if you are looking for coverage that isn’t based upon 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.

Learn more: Globe Life Insurance review

Is Midland National a good insurance company?

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, which includes a licensed life insurance agent, 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.

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Written by
Cate Deventer
Former Writer & Editor, Insurance
Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent.
Edited by Senior Editor, Insurance