Sioux Falls | August 4, 2015
Midland National recently enhanced their XL-EC4 product, part of the company's popular indexed universal life insurance (IUL) portfolio. Updates include reduced policy expenses, as well as new living benefits in the form of accelerated death benefits for qualifying illnesses.
Accelerated death benefits are becoming an increasingly sought-after feature of life insurance because of the access to funds they provide in the event of a qualifying illness, subject to eligibility.
"By enhancing the living benefits available on this product and reducing the policy expenses, this already competitive product becomes an even more attractive solution for financial protection," said Jerry Blair, Vice President and Chief Distribution & Sales Officer.
Indexed universal life insurance is a form of permanent insurance that provides an opportunity to grow cash value, based on the performance of stock market indices, without the risk of investing directly in the market. Popular features of IUL insurance include living benefits, like access to cash value in the form of policy loans, or access to the death benefit through the accelerated death benefit feature.
ABOUT MIDLAND NATIONAL
Founded as Dakota Mutual Life Insurance Company in 1906, Midland National® Life Insurance Company has protected families and preserved legacies for generations. Midland National is one of the leading insurance companies in America. Midland National is a member of Sammons® Financial Group, Inc. With its Annuity Division located in West Des Moines, Iowa and its Life Operations location 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, please visit www.midlandnational.com.
Indexed Universal Life 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.
XL-EC4 (policy form series L144 and L144W with the Waiver of Surrender Charge) is issued by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Products, features, endorsements, riders or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.