Columbus Life vs Midland National Life Insurance Company

Comprehensive side-by-side comparison of indexed universal life insurance companies

Updated 2025
Independent Analysis
Professional Ratings

Columbus Life

Founded: 1906

Cincinnati, Ohio

Financial Strength Ratings

AM Best A+
Assets
$45 billion group assets (Western & Southern)
IUL Experience
10+ years
Products
3
Avg Cap Rate
9%

Key Strengths

Offers 3+ IUL products
Indexed Explorer Plus, Indexed Explorer Now (rapid issue), Expedition SIUL (survivorship)
Visit Columbus Life Website →

Midland National Life Insurance Company

Founded: 1906

West Des Moines, Iowa

Financial Strength Ratings

AM Best A+
Assets
$55 billion
IUL Experience
15+ years
Products
5
Avg Cap Rate
9.5%

Key Strengths

MoneyGeek 2025: Best cheap universal life insurance
115+ year history
Employee-owned structure (Sammons Financial Group)
Fewer complaints than expected (NAIC)
GUL swap option without new underwriting
Visit Midland National Life Insurance Company Website →

Detailed Feature Comparison

Feature Columbus Life Midland National Life Insurance Company
Founded 1906 1906
Headquarters Cincinnati, Ohio West Des Moines, Iowa
Assets Under Management $45 billion group assets (Western & Southern) $55 billion
Years in IUL Business 10+ years 15+ years
Number of IUL Products 3 5
Typical Cap Rate Range 8% - 10% 8% - 11%
Participation Rates 110% 115%
Minimum Premium $5,000 annual $3,600 annual
Issue Ages 0-85 years 15 days to 79 years
Underwriting Speed 2-4 weeks standard, rapid issue available 2-4 weeks standard

Columbus Life IUL Policies

Indexed Explorer Plus

Cap Rate: 8% to 10%

Floor: 0%

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Indexed Explorer Now

Cap Rate: 8% to 10%

Floor: 0%

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Expedition SIUL

Cap Rate: 8% to 10%

Floor: 0%

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Midland National Life Insurance Company IUL Policies

IUL Accumulation

Cap Rate: 8% to 11%

Floor: 0%

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IUL Death Benefit

Cap Rate: 8% to 10%

Floor: 0%

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IUL Cash Value

Cap Rate: 9% to 11%

Floor: 0%

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Legacy Guaranteed IUL

Cap Rate: 8% to 10%

Floor: 0%

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Securian Financial (Minnesota Life)

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Midland National Life Insurance Company

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