Midland National Life Insurance Company vs Gerber Life Insurance
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
Gerber Life Insurance
Founded: 1967
White Plains, New York
Assets
$52 billion+ in force (Western & Southern)
IUL Experience
0+ years
Products
0
Avg Cap Rate
N/A
Key Strengths
Does NOT offer IUL
Specializes in children's/family insurance
Detailed Feature Comparison
| Feature | Midland National Life Insurance Company | Gerber Life Insurance |
|---|---|---|
| Founded | 1906 | 1967 |
| Headquarters | West Des Moines, Iowa | White Plains, New York |
| Assets Under Management | $55 billion | $52 billion+ in force (Western & Southern) |
| Years in IUL Business | 15+ years | 0+ years |
| Number of IUL Products | 5 | 0 |
| Typical Cap Rate Range | 8% - 11% | N/A - N/A |
| Participation Rates | 115% | N/A |
| Minimum Premium | $3,600 annual | N/A |
| Issue Ages | 15 days to 79 years | N/A |
| Underwriting Speed | 2-4 weeks standard | N/A |