Lafayette Life Insurance vs Midland National Life Insurance Company
Comprehensive side-by-side comparison of indexed universal life insurance companies
Lafayette Life Insurance
Founded: 1905
Cincinnati, Ohio
Assets
$10 billion
IUL Experience
10+ years
Products
1
Avg Cap Rate
9%
Key Strengths
Offers Lafayette IUL
Western & Southern backing
120+ years in business
Small-to-mid-sized business focus
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 | Lafayette Life Insurance | Midland National Life Insurance Company |
|---|---|---|
| Founded | 1905 | 1906 |
| Headquarters | Cincinnati, Ohio | West Des Moines, Iowa |
| Assets Under Management | $10 billion | $55 billion |
| Years in IUL Business | 10+ years | 15+ years |
| Number of IUL Products | 1 | 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 | 2-4 weeks standard |