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Compare Life Insurance Products

Focus on

Guarantees

  • Essential Guaranteed® UL
  • Strategic Protector IUL w/ PGR

Essential Guaranteed® UL

Market
Ideal for clients looking for affordable long-term guaranteed death benefit protection and are not concerned with cash value accumulation.
Highlights
  • Guaranteed death benefit for the duration the client specifies, even up to 1201
  • Premium Recovery Endorsement16
  • Guaranteed exchange privilege allows exchange to accumulation indexed universal life products without evidence of insurability and NO surrender charge9
  • Accelerated death benefit for critical, chronic and terminal illnesses5
  • WriteAway® underwriting available
  • Low face amounts starting at $25,000

Strategic Protector IUL w/ PGR

Market
Ideal for clients who desire an extended death benefit guarantee with strong potential for cash value accumulation.
Highlights
  • Premium Recovery Endorsement16
  • Optional Premium Guarantee Rider extends the No-Lapse Guarantee period to any age up to 1201
  • Interest bonuses on both the fixed and index account2
  • Guaranteed Net Zero Cost Loans in years 6+3
  • Overloan Protection Benefit option4
  • Protected Death Benefit option4
  • Accelerated death benefit for critical, chronic and terminal illnesses5
  • WriteAway® Underwriting available

Focus on

Low Cost

  • Premier Term
  • Essential Guaranteed® UL
  • Strategic Protector IUL (Base Policy)

Premier Term

Market
Ideal for competitive situations and large cases.
Highlights
  • Offers 10, 15, 20 and 30-year level premium guarantee periods, depending on issue age10
  • $100,000 minimum face amount
  • Accelerated death benefits for critical, chronic and terminal illnesses*,5
  • WriteAway® Underwriting available

*The critical and chronic illness benefits on Premier Term are not available in California

Essential Guaranteed® UL

Market
Ideal for clients looking for affordable long-term guaranteed death benefit protection and are not concerned with cash value accumulation.
Highlights
  • Guaranteed death benefit for the duration the client specifies, event up to 1201
  • Premium Recovery Endorsement16
  • Guaranteed exchange privilege allows exchange to accumulation indexed universal life products without evidence of insurability and NO surrender charge9
  • Low face amounts starting at $25,000
  • Accelerated death benefit for critical, chronic and terminal illnesses5
  • WriteAway® Underwriting available

Strategic Protector IUL (Base Policy)

Market
For clients requiring a cash value accumulation product with a low-cost structure and low face amount. Excellent for single-pay and short-pay cases.
Highlights
  • Potential for high long-term cash value growth
  • Low-cost structure for low premium to carry
  • Interest bonuses on both the fixed and index accounts2
  • Guaranteed Net Zero Cost Loans in years 6+3
  • Overloan Protection Benefit option4
  • Protected Death Benefit option4
  • Accelerated death benefit for critical, chronic and terminal illnesses5
  • WriteAway® Underwriting available

Focus on

Early Cash Value

Strategic Accelerator IUL

Market
Ideal for clients who want to leverage their premium into a larger tax-free death benefit all while maintaining access to potential cash value.
Highlights
  • 0% premium load
  • 0% surrender charge when the Waiver of Surrender Charge (WOSC) Option Rider* is selected17
  • The WOSC is available on both business and individual cases
  • 10% of the account value is available for a penalty-free withdrawal beginning in policy year two
  • Strong early cash value performance
  • Accelerated death benefit for critical, chronic and terminal illnesses5
  • WriteAway® underwriting available

*Waiver of Surrender Charge Option Rider must be selected at the time of application.

Focus on

Cash Value

Strategic Accumulator IUL

Market
Designed for strong long-term cash value accumulation potential through the Account Interest Multiplier and a higher interest bonus. Especially designed for the retirement planning market for clients with a less conservative view of how indexes will perform.
Highlights
  • Account Interest Multiplier (applied in year 1+) guaranteed on index account13
  • Designed to support higher caps and pars
  • Accelerated death benefit for critical, chronic and terminal illnesses5
  • Interest bonuses on both the fixed and index accounts14
  • Variable Interest Loans available starting in policy year 17
  • Return of Premium Death Benefit Option15
  • Guaranteed Net Zero Cost Loans in years 6+3
  • Overloan Protection Benefit options4
  • Protected Death Benefit options4
  • WriteAway® Accelerated Underwriting available

Have questions or need illustration help?

For direct access, contact our Sales Support team:

800-843-3316
 ext. 32150
800-843-3316, Option 2salessupport@life.midlandnational.com
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Agents offering, marketing, or selling accelerated death benefits for chronic illness in California must be able to describe the differences between benefits provided under an accelerated death benefit for chronic illness and benefits provided under long-term care insurance to clients. You must provide clients with the ADBE Consumer Brochure for California that includes this comparison. Comparison is for solicitation purpose only, not for conversions.


1. Subject to premium payment requirements.


2. Conditionally guaranteed interest bonus on fixed account - if we are crediting interest in excess of the guaranteed interest rate and your client's policy is in effect after the 10th policy anniversary, your client's policy will receive an interest bonus. The interest bonus is 0.75% above the then current interest rate. No fixed account interest bonus is credited on values backing standard or net-zero cost loans. Interest bonus percentages are not guaranteed and are subject to change; however, once a policy is issued, the percentage will not change.


3. Net Zero Cost Loans are loans charged and credited at the same interest rate percentage for a net zero cost.  The policy year and amount available vary by product.  Please refer to the specific product marketing guide or contact the marketing department for details.


4. Some living benefits cannot be elected simultaneously. If the overloan protection benefit is elected, the accelerated death benefits and the protected death benefit cannot be elected. If Policy has a Premium Guarantee Rider attached to it, such rider will be terminated upon the election of the Protected Death Benefit.


5. Subject to eligibility requirements. The death benefit will be reduced by the amount of the death benefit accelerated. Since benefits are paid prior to death, a discount will be applied to the death benefit accelerated. As a result, the actual amount received will be less than the amount of the death benefit accelerated. An administrative fee applies to each terminal and chronic election. There is no administrative fee for critical illness.


6. In some situations loans and withdrawals may be subject to federal taxes. Midland National does not give tax or legal advice. Clients should be instructed to consult with and rely on their own tax advisor or attorney for advice on their specific situation. Income and growth on accumulated cash values is generally taxable only upon withdrawal. Adverse tax consequences may result if withdrawals exceed premiums paid into the policy. Withdrawals or surrenders made during a Surrender Charge period will be subject to surrender charges and may reduce the ultimate death benefit and cash value. Surrender charges vary by product, issue age, sex, underwriting class, and policy year.


7.  The net cost of a variable interest rate policy loan could be negative if the credits earned are greater than the interest charged. The net cost of the loan could also be larger than under standard policy loans if the amount credited is less than the interest charged. In the extreme example, the amount credited could be zero and the net cost of the loan would equal the maximum interest rate charged on variable interest loans. In brief, Variable Interest Rate Policy Loans have more uncertainty than Standard Policy Loans in both the interest rate charged and the interest rate credited.


8. The tax-deferred feature of the indexed universal life policy is not necessary for a tax-qualified plan. In such instances, your client should consider whether other features, such as the death benefit and optional riders make the policy appropriate for your client's needs. Before purchasing this policy, your client should obtain competent tax advice both as to the tax treatment of the policy and the suitability of the product.


9. Allows policy owner the right to exchange policy, without evidence of insurability and surrender charges, to one of our cash value accumulation indexed universal life policies available at the time of exchange.  The Cash Surrender Value on the new policy may not be greater than the Cash Surrender Value on the policy being exchanged.  Not available for policy ages 76 and above or if there is an outstanding policy loan.


10. Premiums are guaranteed to remain level for the initial 10, 15, 20, or 30 year period. After the premium guarantee period, premiums will increase annually but will never exceed the Guaranteed Annual Renewal Premium.


11. Allowed during level premium period of policy, or policy age 75 (whichever is earlier) (Age 70 for 30 year) but never less than five years.


12. Guaranteed convertible to a permanent life insurance policy then available from Midland National for Conversion, subject to the terms of the policy.


13. Account Interest Multiplier is applied after interest credit or index credit is determined and before any Interest Bonus. It is not applied to the Interest Bonus nor any portion of the Account Value that is Policy Debt or the Minimum Account Value.


14. Conditionally Guaranteed Interest Bonus on Fixed Account - If we are crediting interest in excess of the guaranteed interest rate and your client's policy is in effect after the 10th policy anniversary, your client's policy will receive an Interest Bonus. The Interest Bonus is 1.0% above the then current interest rate. The Account Multiplier is not applied to the Interest Bonus nor any portion of the Account Value that is Policy Debt or the Minimum Account Value. For Standard Policy Loans the interest bonus is not applied to any loaned amount.


15. Subject to eligibility requirements.


16. Provides the opportunity to recover part or all of the total premiums paid within a 60-day window after the 15th, 20th and 25th policy anniversary upon full surrender of the policy. This benefit will remain in effect to the 25 year policy anniversary as long as all gross premiums paid guarantee the policy to at least attained age 95, assuming no policy loans are taken. The premium recovery value is the total premiums paid less any policy debt or withdrawals, including withdrawal charges and processing fee.  The total premiums paid will be reduced by the same portion as the death benefit for any acceleration of the death benefit. The premium recovery value will never be less than the net cash surrender value.  Refer to the endorsement for complete details.


17. Available for an additional charge per $1,000 per month, depending on issue age and underwriting class. Surrender charges will be waived upon a full surrender or partial surrender. Surrender charges will not be waived if the policy is surrendered under a 1035 Exchange (except in Florida). A decrease charge will be assessed if a reduction in the policy face amount is requested during the Waiver of Surrender Charge Period.


Neither Midland National nor its agents give tax advice. Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.


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.


Premier Term (policy form series T142), Essential Guaranteed UL 5 (policy form series L146), Strategic Protector (policy form series L148), Strategic Accumulator (policy form series L147), Strategic Accelerator (policy form series L149) including all applicable riders and endorsements are issued by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD, 57193. Products, features, endorsements, riders or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply.


Sammons Financial® is the marketing name for Sammons® Financial Group, Inc.’s member companies, including Midland National® Life Insurance Company. Annuities and life insurance are issued by, and product guarantees are solely the responsibility of, Midland National Life Insurance Company.


FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

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FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

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