Midland National At a Glance: Rates, Products and Reviews

Compare Midland National Annuity Rates

Additional Products Offered by Midland National

Midland National offers eight fixed annuity products, including:

• Six fixed index annuities
• One multi-year guarantee annuity (MYGA)
• One single premium immediate annuity (SPIA)

Midland National’s suite of annuity products is designed to allow different tailored solutions based on different financial situations for people looking to buy an annuity.

Midland National’s Fixed Index Annuities

Midland National offers six fixed index annuities tailored to meet specific financial needs. All require a minimum premium of $20,000. The MNL Income Planning Annuity and MNL Accelerate 5 require a single premium payment. The rest offer flexible premium options.

• MNL Income Planning Annuity℠ In Action: Sandra, 65, needs income for life without worrying about outliving her savings. The MNL Income Planning Annuity℠ provides a guaranteed lifetime withdrawal benefit plus penalty-free withdrawals.
• MNL Endeavor® 8 In Action: Marcus, 55, is over a decade from retirement and wants market-linked growth without principal risk. MNL Endeavor® 8 offers flexible premiums and a range of crediting methods to fit his timeline.
• MNL IncomeVantage® Pro In Action: Theresa, 62, wants protected growth plus fuller participation in index gains. MNL IncomeVantage® Pro’s strategy charge option can boost her participation rate, with penalty-free withdrawals for flexibility.
• MNL IndexBuilder® In Action: David, 58, rolled over his 401(k) and wants a premium bonus to jumpstart growth. MNL IndexBuilder® offers an upfront bonus, penalty-free withdrawals, and a choice between 10- and 14-year surrender schedules.
• MNL RetireVantage® In Action: Carol, 60, wants a flexible indexed annuity with an extra protection layer. MNL RetireVantage® allows flexible premiums, penalty-free withdrawals, and an optional additional benefit rider.
• MNL Accelerate® 5 In Action: Brian, 70, has a matured CD and wants a short, single-premium product. MNL Accelerate® 5 accepts a single premium with three crediting methods and a short surrender period.

Midland National’s MYGA

The MNL Guarantee Pro® by Midland National Insurance Company aims to secure financial stability while allowing consumers flexibility with a $20,000 minimum initial premium.

With penalty-free withdrawals, you can access funds when needed without incurring additional charges. 

The added benefit of a nursing home confinement waiver ensures that you can access funds without penalties in the face of unforeseen health challenges. 

It provides three, five and seven-year surrender charge schedules for most states and three and five-year schedules in California. The schedules also provide a transparent framework, allowing annuity owners to plan their investments effectively. 

Who It Works Best For: Irene, 63, wants guaranteed growth with no market exposure. MNL Guarantee Pro® locks in a rate for three, five, or seven years with penalty-free access and a nursing home confinement waiver.

Midland National’s SPIA

Midland National’s Direct Income® annuity caters to diverse needs, offering flexibility and security. 

With issue ages from 0 to 85 and a minimum premium of $25,000, this single premium immediate annuity provides several payout options, including lifetime payments, period certain, joint life with survivorship and other common riders. These allow you to tailor the plan to suit your preferences. 

Its unique installment and cash refund options ensure a continued financial benefit for beneficiaries. The death benefit, equal to remaining payments, provides added reassurance. With payment modes ranging from monthly to annually, you can better adapt payments from the Direct Income annuity to your financial needs.

Who It Works Best For: Tom, 72, wants an immediate paycheck that can continue for his spouse. Direct Income® is a SPIA with joint-life survivorship options, installment and cash refund features, and a death benefit equal to remaining payments.

About Midland National

Midland National is licensed in all states except New York, plus DC, Puerto Rico and Guam. It sold over $7.1 billion in annual direct annuity premiums in 2024, according to the National Association of Insurance Commissioners (NAIC). 

Midland National Life Insurance Company was founded in 1906 as Dakota Mutual Life Insurance Company and took its current name in 1925. Its life insurance division is based in Sioux Falls, S.D. and its annuity division is headquartered in West Des Moines, Iowa. Its member companies include Sammons Financial Group, Sammons Corporate Markets, Sammons Retirement Solutions and Midland National Pension.

Credit Ratings

If you’re thinking about buying an annuity, it’s important to know about credit ratings for annuity providers. These ratings show how financially stable and strong the provider is. Just keep in mind that different rating companies may use different scales to rate them.

Liberty Bankers Credit Ratings

Rating Company	Credit Rating
AM Best	A+
Fitch	A+
S&P	A+

What Customers Are Saying About Midland National

The NAIC tracks consumer complaints that each state’s insurance commission receives each year. These are used to compile a company’s NAIC Complaint Index.NAIC Complaint IndexDetermined by dividing the company’s share of complaints in the U.S. market by the company’s share of premiums in the U.S. market. The National Complaint Index is always 1.00, so a score of 2.00, for example, is twice as high as expected in the market.

NAIC Complaint Index for Midland National

All Policy Types	0.08
Individual Annuities Only	0.31

While Midland National holds an impressive NAIC Complaint Index score, J.D. Power’s 2025 U.S. Individual Annuity Study rated Midland National below average for overall customer satisfaction, with a score of  615 out of a possible 1,000 points. That is below the consumer data analytics company’s industry average of 639.

Midland National Pros & Cons

Midland National’s annuity offerings present a mix of strengths and considerations in the broader U.S. annuity market. You should carefully weigh these pros and cons against individual financial goals and preferences.

Pros

• Diverse Range: Midland National’s suite includes eight annuity products, catering to varied financial needs and preferences.
• Flexible Premiums: With options for both single and flexible premium payments, their annuities accommodate different budgetary considerations.
• Penalty-Free Withdrawals: Several offerings, including the MNL Income Planning Annuity and MYGA, allow penalty-free withdrawals, which enhances liquidity.
• Innovative Features: The MNL IncomeVantage Pro introduces a unique strategy charge option, potentially enhancing participation in market gains.
• Transparency: The MYGA comes with transparent surrender charge schedules, aiding effective investment planning.

Cons

• High Minimum Premiums: A $20,000 minimum initial premium across various annuities may be a barrier for some potential investors.
• Age Range: Some annuities target specific age brackets, potentially limiting accessibility for individuals outside those ranges.
• Complexity: The range of annuity options and features may be overwhelming for those seeking a straightforward investment.
• Geographic Variations: Surrender charge schedules vary by state, adding complexity and potentially impacting the overall appeal of the annuities.
• Customer satisfaction: The company was rated below average for overall customer satisfaction by J.D. Power.