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Midland National (Sammons Financial) Insurance Review 2019

Jan. 2, 2019
Insurance, Life Insurance
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At a glance

  • NerdWallet ranking: No. 15.
  • Must work with an agent to buy coverage.
  • Limited product details available online.


Founded as Dakota Mutual Life Insurance Co. in 1906, the insurer became Midland National in 1925. It’s now a member of Sammons Financial Group Inc., a group of financial companies that also includes the North American Company for Life and Health Insurance. Midland National is licensed to do business in every state except New York.

» MORE: The best life insurance companies

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Find out more about each element that goes into our Midland National review by clicking below.

NerdWallet rank: 15th

Midland National ranked No. 15 out of the 20 best life insurance companies as scored by NerdWallet. The rankings are based on a composite score, which includes A.M. Best financial strength ratings, J.D. Power customer satisfaction scores and the number of complaints to state regulators, adjusted for market share. NerdWallet scores the largest national life insurance companies that sell policies to individuals.

A.M. Best financial strength rating: A+ (superior)

Midland National’s financial strength is “superior,” according to ratings firm A.M. Best. Financial strength indicates an insurer’s ability to pay claims, so it’s an important factor to consider when choosing a life insurance company.

Consumer complaints: Better than the median

Compared with life insurance companies of its size, Midland National drew fewer than the median number of complaints about individual life insurance to state regulators in 2017.

The National Association of Insurance Commissioners, a trade group of state regulators, calculates a “complaint ratio score” for insurance companies. The score is based on the number of complaints to state regulators, adjusted for an insurer’s market share. The median score is 1. A score less than 1 means fewer complaints. Midland National had a complaint ratio score of 0.28 for individual life insurance.

J.D. Power ratings: Generally below average

Midland National ranked No. 15 out of the 23 life insurance companies evaluated for customer satisfaction in the J.D. Power 2018 U.S. Life Insurance Study. Midland National rated as among “the rest,” the lowest rating, in three categories, including overall satisfaction.

Customer satisfaction category Midland National's score
Overall satisfaction"The rest"
Billing and payment"The rest"
Price"The rest"
Policy offerings"About average"
Interaction"About average"


More about Midland National

Types of life insurance soldOther products and services
  • Term life.
  • Universal life.
  • Indexed universal life.
  • Variable universal life.
  • Annuities.
  • Midland National life insurance options

    Term life: The company offers preliminary term life quotes on its website, but does not offer product details or sell policies online. Website visitors must email the sales department to find an agent.

    Universal life: The company offers a variety of universal life products, including indexed universal life, which ties the cash value growth to an index, such as the S&P 500. Product details are available through agents, not online.

    Variable universal life: A wide array of investment funds are available for allocating the policy’s cash value. Prospectuses for the company’s variable policies are available on its website.

    Faster application process: Midland National introduced a speedier and less-invasive process for its term life and some universal life policies in 2018. Using publicly available data, the company can determine whether an applicant qualifies for coverage within 72 hours, without requiring lab tests or a medical exam. Adults 50 or younger who don’t have major medical conditions and meet certain height and weight requirements might be eligible for the streamlined application process.