Midland National Life Insurance Company is a subsidiary of Sammons Financial Group — one of the largest privately held companies in the United States. With an AM Best A+ (Superior) rating and over 115 years of history, Midland National is a stalwart in the fixed and indexed annuity market.
Midland National is particularly well known for its fixed indexed annuity lineup — specifically products with competitive income riders for future guaranteed income. Their MYGAs are also competitive, particularly in the 5 and 7-year terms.
Key Takeaways
- AM Best A+ (Superior) — excellent financial strength
- Privately held through Sammons Financial — no Wall Street shareholder pressure
- 115+ years in business — strong historical track record
- Known for competitive FIA products with income riders
- Competitive MYGA rates — frequently appears in top-10 rate comparisons
Midland National Annuity Products
Midland National RetireVantage — MYGA available in 3, 5, 7, and 10-year terms. Competitive rates with 10% annual free withdrawal. Straightforward accumulation product with no annual fees.
Endeavor Plus — Fixed indexed annuity linked to S&P 500 and other indices. Optional LifeTrack income rider for guaranteed lifetime withdrawal. 10-year surrender period.
Oak ADV — Advisory-sold FIA with no surrender charges after year 1 for RIA/fee-based advisors. Competitive caps with multiple index options. Growing product for fee-based advisor distribution.
Midland National Signature Income — Income-focused FIA with a guaranteed income rider rollup rate. Targets buyers who want to maximize future guaranteed income over a 7–10 year accumulation period.
Financial Strength Ratings
| Agency | Rating |
|---|---|
| AM Best | A+ (Superior) |
| S&P Global | AA- (Very Strong) |
Pros and Cons
| Pros | Cons |
|---|---|
| A+ AM Best — superior financial strength | Less name recognition than national brands |
| Privately held — stable, long-term focus | Some products have 10-year surrender periods |
| Competitive FIA income rider products | Not available direct — agent access only |
| 115+ years operating history | FIA complexity requires professional guidance |
Frequently Asked Questions
Who owns Midland National Life?
Midland National is a subsidiary of Sammons Financial Group — one of the largest privately held financial services companies in the U.S. Sammons also owns North American Company for Life and Health Insurance, giving them significant scale in the annuity market.
Is Midland National a good annuity company?
Yes. Midland National holds an AM Best A+ (Superior) rating, has 115+ years of operating history, and is privately held under the Sammons Financial umbrella. Their FIA and MYGA products are regularly competitive in rate comparisons.
