Midland National Life Insurance Company vs American National Insurance Company
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
American National Insurance Company
Founded: 1905
Galveston, Texas
Assets
$30 billion
IUL Experience
15+ years
Products
1
Avg Cap Rate
9.5%
Key Strengths
120+ year history
Newsweek: 'America's Most Trustworthy Companies'
Forbes: 'America's Best Insurance Companies'
82 consecutive years financial strength recognition
Operates in all 50 states
Detailed Feature Comparison
| Feature | Midland National Life Insurance Company | American National Insurance Company |
|---|---|---|
| Founded | 1906 | 1905 |
| Headquarters | West Des Moines, Iowa | Galveston, Texas |
| Assets Under Management | $55 billion | $30 billion |
| Years in IUL Business | 15+ years | 15+ years |
| Number of IUL Products | 5 | 1 |
| Typical Cap Rate Range | 8% - 11% | 8% - 11% |
| Participation Rates | 115% | 110% |
| Minimum Premium | $3,600 annual | $5,000 annual |
| Issue Ages | 15 days to 79 years | 0-85 years |
| Underwriting Speed | 2-4 weeks standard | 3-4 weeks standard |