Midland National and North American introduce new IULs

West Des Moines, Iowa – August 12, 2024 – Midland National® Life Insurance Company and North American Company for Life and Health Insurance®, member companies of Sammons® Financial Group, Inc., announced their enhanced Indexed Universal Life products. Midland National announces Strategic Accumulator IUL 3, and North American announces Builder Plus IUL 4. These highly competitive, next generation products build upon the design of the companies’ flagship IUL products by providing strong death benefit protection and robust long-term cash value accumulation potential. These IULs can help policyowners plan for their futures while minimizing the impact of market volatility and taxes.

“We are dedicated to providing life insurance products that meet the evolving needs of our clients,” said Jerry Blair, President of Sammons Life Insurance Group. “Strategic Accumulator IUL 3 and Builder Plus IUL 4 are designed to perform exceptionally well over time, making it a standout option in a competitive market.”

The products are engineered to offer strong cash values, particularly in later durations, enhancing its appeal for clients seeking reliable ways to help supplement retirement income. With features like a unique protected death benefit, these products stand out in the market.

“The protected death benefit is a differentiator that no other company offers, offering unparalleled security for our policyowners,” Blair added.

One of the key highlights of Strategic Accumulator IUL 3 and Builder Plus IUL 4 is the variety of loan options available to policyowners. Clients can choose from standard loans, variable interest participating loans, and fixed interest participating loans, which helps provide flexible financial tools to manage their policies effectively.

The IULs also offer improved product features like increased premium load and duration, and a reduced percent of account value charge per month to encourage cash value growth. Plus, a current floor rate above 0% for funds allocated to the S&P 500 provides another index selection that can achieve positive credits even during down years.

“With the introduction of Strategic Accumulator IUL 3 and Builder Plus IUL 4, we reaffirm our commitment to innovation and client satisfaction,” said Blair. “These products will help our clients achieve their financial goals, offering robust protection and growth potential in one comprehensive package.”

In addition to enhancing these IULs, Midland National and North American remain committed to modernizing its operational platforms to find ways to make doing business with the companies easier than ever before.

“We recognize the importance to deliver outstanding products and a seamless experience to our clients and agents,” said Blair. “We are investing in processes and technology upgrades that enhance the overall customer experience.”