American General Life Insurance (Corebridge Financial) vs Midland National Life Insurance Company
Comprehensive side-by-side comparison of indexed universal life insurance companies
American General Life Insurance (Corebridge Financial)
Founded: 1926
Houston, Texas
Assets
$393 billion (Corebridge consolidated)
IUL Experience
15+ years
Products
3
Avg Cap Rate
9.5%
Key Strengths
4.4 million policyholders, $393B assets
18 duration options (most flexible in industry)
AU+ accelerated underwriting (60%+ qualify, some approved in 24 hours)
Strong high-risk underwriting history
Multiple index crediting with safeguards
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 | American General Life Insurance (Corebridge Financial) | Midland National Life Insurance Company |
|---|---|---|
| Founded | 1926 | 1906 |
| Headquarters | Houston, Texas | West Des Moines, Iowa |
| Assets Under Management | $393 billion (Corebridge consolidated) | $55 billion |
| Years in IUL Business | 15+ years | 15+ years |
| Number of IUL Products | 3 | 5 |
| Typical Cap Rate Range | 8% - 11% | 8% - 11% |
| Participation Rates | 115% | 115% |
| Minimum Premium | $5,000 annual | $3,600 annual |
| Issue Ages | 0-85 years | 15 days to 79 years |
| Underwriting Speed | 24 hours to 4 weeks (60%+ qualify for accelerated) | 2-4 weeks standard |