Midland National Life Insurance Company vs National Life Group
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
National Life Group
Founded: 1848
Montpelier, Vermont
Assets
$45 billion
IUL Experience
20+ years
Products
3
Avg Cap Rate
Competitive market rates
Key Strengths
Market leader with 17.4% market share
Lifetime Income Benefit Rider with 10-year waiting period
Industry-leading chronic illness rider
175+ years operating history
Mutual structure aligns with policyholder interests
Detailed Feature Comparison
| Feature | Midland National Life Insurance Company | National Life Group |
|---|---|---|
| Founded | 1906 | 1848 |
| Headquarters | West Des Moines, Iowa | Montpelier, Vermont |
| Assets Under Management | $55 billion | $45 billion |
| Years in IUL Business | 15+ years | 20+ years |
| Number of IUL Products | 5 | 3 |
| Typical Cap Rate Range | 8% - 11% | Not publicly disclosed - Not publicly disclosed |
| Participation Rates | 115% | Competitive market rates |
| Minimum Premium | $3,600 annual | $50,000 (FlexLife) |
| Issue Ages | 15 days to 79 years | 0-85 years |
| Underwriting Speed | 2-4 weeks standard | 2-4 weeks standard |