Today we review Midland National for you. What is Midland National? Midland National has been in operation for quite some years now, and some of those who want to rely on its services might still be debating whether it is the best option out there.
Name of the Company: Midland National Life Insurance
Official Website URL: https://www.midlandnational.com/
Owner: Sammons Financial Group Inc (SFG)
Overall rating: (4.4 / 5)
Recommended? : Yes
Essential to mention (before we go into more details of this review)
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With that being said, let´s continue with the review on Midland National!
In this article, I will break down what this company is offering, what is being said of this company, and the benefits and drawbacks of relying on the products and services it offers. Below are some of the significant pointers that I think you will find quite helpful.
We help you answer the following questions:
- What is Midland National?
- How does it work?
- Products and services offered?
- IRAs offered?
- Are their services genuine?
- Investment opportunities offered?
- The pros and cons?
- Are there better alternatives out there?
What is Midland National?
Midland National Life Insurance (or Midland National as popularly known) is a well-renowned insurance company specializing in terms of term and whole life insurance. Traditional life insurance policies are unique covers that guarantee benefits to the family and loved ones of the policyholder upon the death of the policyholder.
Many companies offer this kind of cover, but Midland National happens to be one of the most outstanding service providers in this niche.
This company, which came to birth in 1906 as Dakota Midland Life Insurance, has all through those years been serving its clients consistently, thus cementing its position as one of the best insurance companies in the USA. The company has introduced a wide range of financial services that have appealed to all its clients. Midland National is a household name with its excellent customer care and the quality of its products and services.
How does it work?
As a client approaching Midland National for a business deal, you are highly interested in checking out the products that it is offering for you to pay for them. The application process followed by clients is pretty much traditional, but it is not any less effective. The process is as shown below:
1. Provision of your basic information.
2. Answering a series of health-related questions.
3. Going through a medical examination.
4. Waiting for 4 to 6 weeks for your application to be reviewed.
5. Receiving a notice of approval.
For the other products that Midland National has on its offering, clients must ask for a free quotation (provided on the official website).
Products and services offered?
As discussed above, Midland National offers a wide range of products that are of high quality. These products are considered helpful in ensuring that the policyholder and their loved ones do not go through hardships if the policyholder is not in a position to work or they die.
The products offered by Midland National are all priced differently, so a person needs to get a quotation that suits their current and future anticipated situation. These products include:
1. Life Insurance covers.
Term and Whole Life Insurance are essentially the two most popular life insurance covers offered by Midland National and other traditional life insurance companies. In addition to these two insurance policies, Midland also offers Universal Life Insurance, Indexed Universal Life Insurance, and Variable Universal Life Insurance.
This is an investment product that has been a favorite to many people headed to their retirement years. Clients who choose Midland National to provide them with this product usually channel funds to an investment account, for which they usually get steady cash flows upon retiring. Midland National offers several Annuity products, including Immediate Annuities, Traditional Fixed Annuities, and Fixed Index Annuities.
3. Other insurance products
Midland National also offers its clients other insurance products that are often reliable policies that cover different areas of those concerned. These include corporate insurance, bank products insurance, and credit union-owned policies.
There is no info on any IRAs on their website, so we have to assume that they do not offer that.
Is Midland National a Scam, or is it Legit?
With the kind of reputation that Midland National has managed to build over the one century, it has been in business, it would be a disservice to even think of this company as a scam. The reviews given by consumer trust sites and companies are a testimonial to the proverbial excellence that Midland National has cultivated over the years it has been in existence.
Some of the main ratings that Midland National has received include:
A.M. Best: A+
S&P Rating: A+
Better Business Bureau: A+
All the above ratings have been given to Midlands National due to:
– Its ability to maintain a solid commitment to forging great relationships with its clients.
– Well-established growth strategies.
– Having a solid business profile.
– A robust financial risk profile.
Besides these ratings, this company has received very positive reviews from several sites considered trustworthy by insurance cover and investment instruments seekers. Some of the most outstanding and detailed reviews are provided by Life Insurance blog (https://www.lifeinsuranceblog.net/midland-national-life-insurance-company-reviews/), US Insurance Agents (https://usinsuranceagents.com/reviews/midland-national-life/), Best Life Rates (https://www.bestliferates.org/companies/midland-national-life-insurance-review/), and AnnuityGator(https://www.annuitygator.com/independent-review-of-the-midland-national-life-livewell-fixed-indexed-annuity/). The independent reviews provided on these sites are sufficient proof that Midland National is a genuine company providing excellent products and services.
Midland National allows investors to grow their wealth as they seek to secure their age at retirement. This company has annuity products on offer. Clients usually channel their funds to the annuity accounts created by Midland National, and they are usually guaranteed steady cash flows when they head for retirement.
Pros and Cons
We always provide you with both the positive and the negative sides of a company in our reviews. Below you got some precise points on both sides of the spectrum:
-Has an A+ rating on A.M Best, S&P, Fitch, and BBB.
-Excellent customer service.
-Has assets exceeding $51 Billion, hence is a well-performing financial services company.
-Has a variety of products on offer.
-Misinformation of elderly clients on their product offerings in 2011 (led to this company’s $1.3 million lawsuits)
-No IRAs were offered
Do You Own or represent Midland National?
If you are a representative or associate of Midland National and have found something not to be correct in this review, please, feel free to tell, and I will make sure to update the info on this post. The easiest way to do it is in the comment section below, or else you get the e-mail on the about page.
Final words and verdict:
Overall rating: (4.4 / 5)
Ok, I think that sums up the overall view of this company pretty well. It is a legit one for sure. However, if it is your best alternative, there is another story. That is something you have to decide for yourself, and of course, it, first of all, depends on what you are looking for.
Suppose you are looking for life insurance and annuities. In that case, they might be a good alternative, if you are looking for IRAs and rollovers, I always recommend GoldCo as they have a flawless record and are the (by far) most top rated company in the precious metals (and also bitcoin) industry, so I suggest you check them out as well if you haven´t already.
Constantly review and compare different alternatives against each other before you make any investment decisions.
You made a wise decision to read this review, and you are an intelligent person, so I am sure that you will find the right company that suits your particular need the best and that you feel comfortable doing business with.
There are many great investment services; I have listed many of them on this website. However, the absolute best one I can recommend (when it comes to IRAs and 401k rollovers) is Augusta Precious Metals, it is USA’s #1 rated company to invest in Precious Metals IRAs:
I hope you found this short review of Midland National helpful, and you now have a better understanding of what it is and if they offer IRAs. If you have used any of their services, share your experience in the comment section below, as it can help others! Also, if you got any questions about this review, I will be more than happy to answer them below!
I wish you success!
founder of: Goldretired.com