Midland National Expands Its Index Universal Life Product Line

Des Moines, IA – May 24, 2021

Midland National® Life Insurance Company (Midland National) has introduced a new indexed universal life (IUL) insurance product that offers death benefit protection only life insurance can while accumulating potential long-term cash value for other purposes, including to help supplement retirement income. Strategic Accumulator 2 is the latest product in Midland National’s innovative IUL portfolio.

“This policy meets a growing consumer need – how to protect your family while also having the ability to accumulate cash value or tax advantages for your overall financial portfolio,” said Jerry Blair, Midland National, chief distribution officer. “Earning and growing cash value is critical as so often clients purchase protection years – or even decades – before they may need to help supplement their retirement income. In this case, time is literally money.”

This IUL insurance product can be a solution for individuals seeking ways to plan for their financial future. Strategic Accumulator 2 is ideal for clients:

  • in need of death benefit protection
  • that have a high income, a large amount of assets to protect, or both
  • concerned about their family’s financial needs if death occurs during working years
  • that have maximized 401(k) or Individual Retirement Account savings plans – or who may not qualify for an IRA
  • who seek the opportunity to mitigate tax implications on future retirement funds

“This product is strategically designed to be competitive in how it offers future potential supplemental income streams,” said Blair. “That’s often necessary as policyowners face retirement. It also helps make this product stand out in a crowded market.”

The new IUL includes the Fidelity Multifactor Yield IndexSM 5% ER option which, as part of its strategy, seeks to reduce volatility. The Fidelity index is exclusive to Midland National1, and currently has a 125% participation rate, no cap, a 1.65 percent non-guaranteed bonus starting in its first year, and a 2.65 percent non-guaranteed bonus in year 11 and beyond with rates subject to change.

Strategic Accumulator IUL 2 also offers a Fixed Interest Participating Policy Loan2 that uses a declared interest rate and participates in the index account. Available in the first year of the policy, the loan currently receives a 2 percent interest bonus, but is not eligible for any other interest bonuses. This type of loan offers the opportunity for improved performance and in turn may allow for better management of cash value.

In addition, clients can access a portion of the policy’s death benefit while living through accelerated death benefits, if diagnosed with a qualifying illness. To simplify the application process, Strategic Accumulator 2 is available with accelerated underwriting with the possibility of no lab tests or exams, an online application, and eSignature options if meeting with an agent face-to-face is not possible or preferred.


About Midland National Life Insurance 

For more than 115 years, Midland National® Life Insurance Company (Midland National) has been an industry leader, crediting the company’s strength to its commitment to stability, innovation and dedicated customer service. Midland National is accredited by the Better Business Bureau, and has earned an A+ (Superior) rating from A.M. Best, a large third-party independent reporting and rating company that rates an insurance company on the basis of the company's financial strength, operating performance and ability to meet its ongoing obligations to policyowners. This rating is the second highest out of 15 categories and was affirmed by A.M. Best for Midland National as part Sammons® Financial Group, Inc. on Aug. 19, 2020. 

Founded as Dakota Mutual Life Insurance Company in 1906, Midland National has protected families and preserved legacies for generations. Midland National is one of the leading insurance companies in the United States. Midland National is a member of Sammons Financial Group, a subsidiary of Sammons Enterprises, Inc. With its annuity division in West Des Moines, Iowa, and its life insurance operations in Sioux Falls, South Dakota, Midland National operates in 49 states and the District of Columbia through its 12,000 licensed sales professionals. For more information, click here.

  1. Exclusive to Midland National as part of Sammons Financial Group. Midland National has licensed the Fidelity Multifactor Yield Index 5% ER for exclusive use on its IUL products.
  2. The net cost of a Fixed Interest Participating Policy Loan could be negative if the credits earned are less than the interest charged. The net cost of the loan could also be larger than under standard policy loans if the amount credited is less than the interest charged. In the extreme example, the amount credited could be zero and the net cost of the loan would equal the maximum interest rate charged less any guaranteed bonus. In brief, fixed interest rate loans have more uncertainty than standard policy loans in the interest rate credited.

The Fidelity Multifactor Yield Index 5% ER (the “Index”) is a multi-asset index, offering exposure to companies with attractive valuations, high quality profiles, positive momentum signals, lower volatility and higher dividend yield than the broader market, as well as U.S. treasuries, which may reduce volatility over time. Fidelity and its related marks are service marks of FMR LLC. Fidelity Product Services LLC (“FPS”) has licensed this index for use for certain purposes to Midland National® Life Insurance Company (the “Company”) on behalf of the Product. The Index is the exclusive property of FPS and is made and compiled without regard to the needs, including, but not limited to, the suitability needs, of the Company, the Product, or owners of the Product. The Product is not sold, sponsored, endorsed or promoted by FPS or any other party involved in, or related to, making or compiling the Index. The Company exercises sole discretion in determining whether and how the Product will be linked to the value of the Index. FPS does not provide investment advice to owners of the Product, nor to any other person or entity with respect to the Index and in no event shall any Product contract owner be deemed to be a client of FPS.

Neither FPS nor any other party involved in, or related to, making or compiling the Index has any obligation to continue to provide the Index to the Company with respect to the Product. Neither FPS nor any other party involved in, or related to, making or compiling the Index makes any representation regarding the Index, Index information, performance, annuities generally or the Product particularly. Fidelity Product Services LLC disclaims all warranties, express or implied, including all warranties of merchantability or fitness for a particular purpose or use. Fidelity Product Services LLC shall have no responsibility or liability whatsoever with respect to the Product.

Indexed Universal Life Insurance products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.

Strategic Accumulator IUL 2 is issued on policy form series L153 or state version including all applicable endorsements and riders, by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Products, features, riders, endorsements, or issues ages may not be available in all jurisdictions. Limitations or restrictions may apply.