Midland National and North American Announce New Indexed Universal Life Products

New Indexed Universal Life products offers consumers lifetime protection

WEST DES MOINES, Iowa--(BUSINESS WIRE)--Midland National® Life Insurance Company and North American Company for Life and Health Insurance®, member companies of Sammons® Financial Group, Inc., are proud to unveil their enhanced Indexed Universal Life (IUL) products. Midland National announces Strategic Protector® IUL 2, and North American announces Protection Builder IUL® 2. These highly competitive, next generation products are designed to combine a guaranteed death benefit¹ with cash value growth potential. Strategic Protector IUL 2 and Protection Builder IUL 2 can help meet several financial goals, including legacy building, estate planning, and emergency funding.

“The enhancements we’re making to Strategic Protector IUL 2 and Protection Builder IUL 2 will make these products extremely competitive. At the time of launch, we expect these to illustrate among the top products in the space,” said Jerry Blair, president of Sammons Life Insurance Group. “Our message is clear: we’re here, we’re listening, and we’re providing competitive products that customers and producers are asking for.”

Strategic Protector IUL 2 and Protection Builder IUL 2 offer guaranteed death benefit protection up to age 120¹ with the Premium Guaranteed Rider (PGR), available at issue only. If the PGR is not elected, the no-lapse guarantee (NLG) can be used to guarantee the death benefit during the specified NLG period. The products also offer improved competitiveness for guaranteed pricing and non-guaranteed performance and a 10-30% decrease in premiums for certain age, rate class and death benefit combinations.

“Six months ago, we launched Strategic Accumulator® IUL 3 for Midland National and Builder Plus IUL® 4 for North American. Today, we’re thrilled to be launching Strategic Protector IUL 2 and Protection Builder IUL 2,” added Blair. “As the names suggest, these products are keenly focused on those wishing to protect their legacy while also accounting for the flexibility and simplicity customers’ desire. Whether consumers are looking for accumulation, protection, or something in between, we have a competitive IUL solution that can help them reach their goals.”

About Midland National Life Insurance Company

For more than 115 years, Midland National® Life Insurance Company has been a financial services industry leader, crediting the company’s strength to its commitment to stability, innovation, and dedicated customer service. Midland National is a member of Sammons® Financial Group, a subsidiary of Sammons Enterprises, Inc.

About North American Company for Life and Health Insurance

North American Company for Life and Health Insurance® is a member of Sammons® Financial Group. They offer a comprehensive portfolio of term, universal life, and indexed universal life insurance products, as well as a wide variety of traditional fixed and fixed index annuities.

About Sammons® Financial Group, Inc.

The companies of Sammons Financial Group® help families and businesses by empowering futures and changing lives. Sammons Financial Group is employee owned with member companies that are among the most enduring and stable in the financial services industry. Sammons Financial Group is Midwest-based, with offices in Iowa, Illinois, Minnesota, North Dakota, Ohio, and South Dakota.

^1Subject to premium payment requirements

Indexed Universal Life Insurance products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.

Strategic Protector ® IUL 2 is issued on form P100/ICC22P100/P100CA (policy), E101/ICC22E101, E103/ICC22E103, E104/ICC22E104, E108/ICC22E108, E109/ICC22E109/TR197, E110/ICC22E110/TR20904, E111/ICC22E111/TR20804, E114/ICC24E114, R100/ICC23R100, R101/ICC23R101, R102/ICC23R102, R103/ICC22R103, R104/ICC24R104, R106/ICC23R106 (riders/endorsements) or appropriate state variation by Midland National® Life Insurance Company, West Des Moines, IA. Products, features, endorsements, riders or issue ages may not be available in all states. Limitations or restrictions may apply.

Protection Builder IUL® 2 is issued on form P100/ICC22P100/P100CA (policy), E101/ICC22E101, E103/ICC22E103, E104/ICC22E104, E108/ICC22E108, E109/ICC22E109/TR197, E110/ICC22E110/TR20904, E111/ICC22E111/TR20804, E114/ICC22E114, R100/ICC23R100, R101/ICC23R101, R102/ICC23R102, R103/ICC22R103, R104/ICC24R104, R106/ICC23R106 (riders/endorsements) or appropriate state variation by North American Company for Life and Health Insurance®, West Des Moines, IA. Products, features, endorsements, riders or issue ages may not be available in all states. Limitations or restrictions may apply.

Strategic Accumulator® IUL 3 is issued on form P100/ICC22P100/P100CA (policy), E100/ICC22E100, E101/ICC22E101, E103/ICC22E103, E104/ICC22E104, E105/ICC22E105, E109/ICC22E109/TR197, E110/ICC22E110/TR20904, E111/ICC22E111/TR20804, E113/ICC24E113, E114/ICC24E114, R100/ICC23R100, R101/ICC23R101, R102/ICC23R102, R103/ICC22R103 and R106/ICC23R106 (riders/endorsements) or appropriate state variation by Midland National® Life Insurance Company, West Des Moines, IA. Products, features, endorsements, riders or issue ages may not be available in all states. Limitations or restrictions may apply.

Builder Plus IUL®4 is issued on form P100/ICC22P100/P100CA (policy), E100/ICC22E100, E101/ICC22E101, E103/ICC22E103, E104/ICC22E104, E105/ICC22E105, E109/ICC22E109, LR498, E110/ICC22E110/LR50704, E111/ICC22E111/LR50604, E113/ICC24E113, E114/ICC24E114, R100/ICC23R100, R101/ICC23R101 ,R102/ICC23R102, and R103/ICC22R103 and R106/ICC23R106 (riders/endorsements) or appropriate state variation by North American Company for Life and Health Insurance®, West Des Moines, IA. Products, features, endorsements, riders or issue ages may not be available in all states. Limitations or restrictions may apply.