Midland National Life Insurance Company vs Pacific Life
Comprehensive side-by-side comparison of indexed universal life insurance companies
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
Pacific Life
Founded: 1868
Newport Beach, California
Assets
$239 billion
IUL Experience
20+ years
Products
12
Avg Cap Rate
8.50%
Key Strengths
Second largest by market share with 38% YoY growth
Fortune 500 company (#282)
$1.5 trillion life insurance in force
8 consecutive years World's Most Ethical Companies
Innovation leader in IUL space
Detailed Feature Comparison
| Feature | Midland National Life Insurance Company | Pacific Life |
|---|---|---|
| Founded | 1906 | 1868 |
| Headquarters | West Des Moines, Iowa | Newport Beach, California |
| Assets Under Management | $55 billion | $239 billion |
| Years in IUL Business | 15+ years | 20+ years |
| Number of IUL Products | 5 | 12 |
| Typical Cap Rate Range | 8% - 11% | 7.50% - 9.00% |
| Participation Rates | 115% | 125% |
| Minimum Premium | $3,600 annual | $5,000 annual |
| Issue Ages | 15 days to 79 years | 0-85 years |
| Underwriting Speed | 2-4 weeks standard | 2-4 weeks standard, 48 hours accelerated available |
Midland National Life Insurance Company IUL Policies
Pacific Life IUL Policies
Pacific Discovery Xcelerator IUL 2
Cap Rate: 7.50% with uncapped 10.00% threshold option
Floor: 0%
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