Lincoln Financial (The Lincoln National Life Insurance Company) vs Midland National Life Insurance Company
Comprehensive side-by-side comparison of indexed universal life insurance companies
Lincoln Financial (The Lincoln National Life Insurance Company)
Founded: 1905
Radnor, Pennsylvania
Assets
$321 billion in end-of-period account balances
IUL Experience
20+ years
Products
6
Avg Cap Rate
10.00%
Key Strengths
NEW Elite Indexed Universal Life Portfolio (2025)
New Multiplier Riders for enhanced performance
Dual IUL designs for different optimization approaches
120-year-old company
Serves 17 million customers
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 | Lincoln Financial (The Lincoln National Life Insurance Company) | Midland National Life Insurance Company |
|---|---|---|
| Founded | 1905 | 1906 |
| Headquarters | Radnor, Pennsylvania | West Des Moines, Iowa |
| Assets Under Management | $321 billion in end-of-period account balances | $55 billion |
| Years in IUL Business | 20+ years | 15+ years |
| Number of IUL Products | 6 | 5 |
| Typical Cap Rate Range | 9.50% - 10.50% | 8% - 11% |
| Participation Rates | 105% | 115% |
| Minimum Premium | $5,000 annual | $3,600 annual |
| Issue Ages | 0-85 years | 15 days to 79 years |
| Underwriting Speed | 2-4 weeks standard | 2-4 weeks standard |