Prudential (Pruco Life Insurance Company) vs Midland National Life Insurance Company
Comprehensive side-by-side comparison of indexed universal life insurance companies
Prudential (Pruco Life Insurance Company)
Founded: 1875
Newark, New Jersey
Assets
$1.7 trillion AUM; $4 trillion gross life insurance in force worldwide
IUL Experience
15+ years
Products
4
Avg Cap Rate
8.75%
Key Strengths
Fortune Global 500 company
Over 145 years of history
#1 in variable life insurance market
BenefitAccess Rider for chronic/terminal illness
Over 50 million customers worldwide
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 | Prudential (Pruco Life Insurance Company) | Midland National Life Insurance Company |
|---|---|---|
| Founded | 1875 | 1906 |
| Headquarters | Newark, New Jersey | West Des Moines, Iowa |
| Assets Under Management | $1.7 trillion AUM; $4 trillion gross life insurance in force worldwide | $55 billion |
| Years in IUL Business | 15+ years | 15+ years |
| Number of IUL Products | 4 | 5 |
| Typical Cap Rate Range | 7.00% - 10.25% | 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 standard | 2-4 weeks standard |