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Midland National (Sammons Financial) Insurance Review 2020

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 offers term and permanent life insurance and annuities. The company is licensed to do business in every state except New York.

» MORE: Compare life insurance quotes

Midland National life insurance

Midland National ranks No. 15 on NerdWallet’s list of the best life insurance companies. NerdWallet evaluates the country’s largest life insurance companies based on financial strength, customer satisfaction and consumer complaints.

Life insurance options from Midland National include:

Term life. Preliminary term life quotes are available on Midland National’s website for policies ranging from $100,000 to $5 million, but the company 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. Some of the policies allow you to tap part of the benefit before you die if you’re diagnosed with a serious illness. Product details are available through agents, not online.

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

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.

Midland National complaints and customer satisfaction

Over three years, Midland National has had fewer complaints to state regulators than expected for a company of its size, according to NerdWallet’s analysis of data from the National Association of Insurance Commissioners.

Midland National rated below average for overall customer satisfaction in J.D. Power’s 2019 U.S. Life Insurance Study. The insurer ranked No. 23 overall out of 24 life insurance companies evaluated.

Customer satisfaction category Midland National's score
Overall satisfactionBelow average
Billing and paymentBelow average
PriceBelow average
Policy offeringsBelow average
InteractionAbout average
CommunicationAbout average

Methodology: Insurer complaints

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-2018. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home and life insurance.