Midland National Life Insurance Review 2025
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Midland National
on Nerdwallet
Financial strength rating
Online purchase
NAIC complaints
Policies offered
on Nerdwallet
Midland National
Financial strength rating
Online purchase
NAIC complaints
Policies offered
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About Midland National life insurance
Midland National earned 4 stars out of 5 for overall performance. Founded in 1906 as Dakota Mutual Life Insurance Co., the insurer became Midland National in 1925. It offers term and permanent life insurance, and some applicants may qualify for coverage without a medical exam. The company is licensed to do business in every state except New York.
Received fewer complaints than expected for a company of its size.
Offers accelerated underwriting for qualified applicants.
Can only buy policies with the help of an agent.
» MORE: Compare life insurance quotes
Midland National life insurance policies
Term life insurance. Midland National sells term life insurance policies to applicants ages 18 to 75, with coverage ranging from $100,000 to $5 million. You can choose a 10-, 15-, 20- or 30-year term, and get a detailed premium estimate on the insurer’s sites. If you’re looking for coverage amounts below $100,000 or above $5 million, you’ll need to speak with an agent. Midland National’s term policies aren’t available in New York.
Universal life insurance. The company offers universal life insurance in two categories:
Indexed universal life. This type of policy ties the cash value growth to an index, such as the S&P 500. Depending on which product you choose and how old you are, the minimum coverage amount may be $50,000 or $100,000. It’s typically open to applicants between 15 days and 79 years old.
Guaranteed indexed universal life. This policy also lets you link your cash value to a stock market index, although guaranteed universal policies generally don’t accumulate much cash value. It offers a guaranteed death benefit and a no-lapse guarantee, which means that your policy will remain in force for a set period of time as long as you pay your premiums. This policy is open to people between 15 days and 79 years old, with a minimum coverage limit of $50,000 or $100,000, depending on your age.
Midland National uses accelerated underwriting for some of its policies. If you qualify, you might be able to skip the life insurance medical exam.
Midland National life insurance riders
Options vary by policy, but these are some of Midland National’s life insurance riders:
Accidental death benefit. Offers an extra payout to your beneficiaries if you die due to an accidental injury.
Children’s term insurance. Adds term life insurance coverage for all of the insured person’s children.
Waiver of premium. Pauses your premium payments while you’re disabled and can’t work for a period of time.
Flexible disability benefit. If you have the waiver of premium rider, this option pays a disability benefit while your premiums are being waived.
Guaranteed insurability. Lets you increase your death benefit on specific policy anniversaries without taking a medical exam.
Return of premium. If you add this rider, you can get up to 100% of your paid premiums back if you surrender your policy within a certain timeframe.
Waiver of surrender charge. Lets you give up your permanent policy without a surrender fee.
Midland National customer complaints and satisfaction
Over three years, Midland National has drawn 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 ranked No. 13 out of 21 companies in J.D. Power's 2024 U.S. Life Insurance Study for overall customer satisfaction.
» MORE: Best life insurance companies
How Midland National compares to other insurers
Midland National | Prudential | Guardian | |
|---|---|---|---|
Star rating | |||
Financial strength | Exceptional. | Exceptional. | Exceptional. |
NAIC complaints | Fewer than expected. | Fewer than expected. | Far fewer than expected. |
J.D. Power ranking | #13 out of 21 | #17 out of 21. | #2 out of 21. |
Policy types offered | Term & permanent. | Term, permanent & no-exam. | Term & permanent. |
Read full reviews |
» MORE: Largest life insurance companies
How to contact Midland National
Midland National can be reached by:
Phone: Call 800-923-3223 Monday through Thursday from 7:30 a.m. to 5 p.m. CT and Fridays from 7:30 a.m. to 12:30 p.m. CT.
Email: Send a message to [email protected].
Live chat: Not available.
More about Midland National
Midland National also sells annuities, as well as learning resources on debt management, estate planning, retirement planning and more.
Life insurance buying guide
Before you start comparing companies, choose the type of life insurance you want, such as term or whole life. Decide which life insurance riders, if any, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you’re considering offer the coverage you’re looking for.
When comparing rates, be sure the quotes are for the same amount of coverage over the same period of time. It’s also important to make sure the policy’s medical requirements match your needs. For example, if you want to skip the life insurance medical exam but don’t mind answering health questions, confirm that the application process for each policy you're comparing aligns with that.
Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.
For more guidance, see our life insurance buying guide.
Methodology
Life insurance ratings methodology
NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2021-2023. To assess how insurers compare with 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. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.
