Transamerica Premier Life Insurance vs Midland National Life Insurance Company
Comprehensive side-by-side comparison of indexed universal life insurance companies
Transamerica Premier Life Insurance
Founded: 1906
Cedar Rapids, Iowa
Assets
$131 billion Aegon USA
IUL Experience
15+ years
Products
2
Avg Cap Rate
10.5%
Key Strengths
Transamerica subsidiary
Financial Foundation IUL II, Financial Choice IUL II
Issue ages 18-90
Midland National Life Insurance Company
Founded: 1906
West Des Moines, Iowa
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
Detailed Feature Comparison
| Feature | Transamerica Premier Life Insurance | Midland National Life Insurance Company |
|---|---|---|
| Founded | 1906 | 1906 |
| Headquarters | Cedar Rapids, Iowa | West Des Moines, Iowa |
| Assets Under Management | $131 billion Aegon USA | $55 billion |
| Years in IUL Business | 15+ years | 15+ years |
| Number of IUL Products | 2 | 5 |
| Typical Cap Rate Range | 9% - 12% | 8% - 11% |
| Participation Rates | 125% | 115% |
| Minimum Premium | $3,600 annual | $3,600 annual |
| Issue Ages | 18-90 years | 15 days to 79 years |
| Underwriting Speed | 2-4 weeks | 2-4 weeks standard |