Get Appointed With Midland National Life Insurance: A Guide

Midland National® Life Insurance Company has been in the business of providing life insurance and annuity products for over 100 years. The company offers a wide range of products, including fixed index, traditional fixed, and immediate annuities, as well as term, whole, universal, and indexed universal life insurance policies. Midland National's independent agents are appointed to help guide customers in choosing insurance products that suit their individual needs based on state-by-state buying guides. In this article, we will explore the process of getting appointed with Midland National Life Insurance and the steps you need to take to become an appointed insurance agent. We will also discuss the benefits of being appointed with Midland National and how it can help you grow your insurance business.

Independent agents

Midland National's independent agents offer a diverse range of products to cater to the unique needs of their customers. These agents are appointed by Midland National and are experts at guiding customers in choosing insurance products that align with their specific requirements, taking into account state-by-state buying guides.

Products Offered by Independent Agents

Midland National's independent agents offer a comprehensive suite of insurance solutions, including fixed index, traditional fixed, and immediate annuities. These products are designed to provide customers with financial security, backed by the solid financial foundation of Midland National.

Life Insurance Options

Recognizing the significance of having the right life insurance policy in place, Midland National's independent agents offer a range of options. These include term, whole, universal, and indexed universal life insurance policies. Each type of policy is tailored to provide policyowners and beneficiaries with the financial protection they need.

Customized Guidance

The independent agents appointed by Midland National are committed to helping customers make informed decisions. They carefully consider all factors to determine the most suitable policies for each individual. This personalized approach ensures that customers receive tailored guidance when selecting insurance products that match their unique circumstances.

Long-Term Commitment

Midland National is dedicated to long-term strategic growth rather than short-term earnings. This commitment is reflected in their focus on sustained growth and the outstanding achievements of their agents. As a privately-held company, Midland National is not subject to the same short-term earnings pressures as publicly-held companies, allowing them to prioritize the long-term best interests of their customers.

High Independent Agency Ratings

Midland National has consistently earned high ratings from independent agency rating companies. These ratings provide valuable insights into the company's financial strength, operating performance, and ability to fulfill its commitments to policyholders. Midland National's high ratings from esteemed entities like AM Best, S&P Global Ratings, and Fitch Ratings attest to their reliability and stability.

State-specific buying guides

Midland National's independent agents offer a diverse range of products to cater to the unique requirements of customers across different states. These products include fixed index, traditional fixed, and immediate annuities, as well as term, whole, universal, and indexed universal life insurance policies.

The state-specific buying guides are particularly relevant for customers interested in Midland National's annuities. These financial products are designed to provide guarantees backed by the company's financial strength and are tailored to meet the specific regulations and requirements of each state.

For customers in states like California, where insurance regulations may differ from other parts of the country, Midland National's state-specific buying guides ensure that customers receive accurate and compliant guidance on their annuity purchases. The company's agents are well-versed in the varying insurance laws and regulations across states, enabling them to provide tailored advice and product recommendations.

Additionally, Midland National's division, Sammons® Corporate Markets Group, specializes in providing life insurance products for banks, credit unions, business corporations, and government entities. The Corporate Markets Group helps these organizations fund future benefit obligations, such as retirement benefits and post-retirement medical costs. As these obligations can vary by state, the state-specific buying guides are crucial in ensuring that these entities receive the appropriate insurance solutions.

Fixed index, traditional fixed and immediate annuities

Fixed index, traditional fixed, and immediate annuities are all offered by Midland National Life Insurance Company. Fixed index annuities are Midland National's most popular type of annuity and are versatile products that can help meet a wide variety of needs. They are long-term insurance products that provide the potential for interest to be credited based on the performance of specific indices without the risk of loss of premium due to market downturns or fluctuations. While fixed index annuities are not a direct investment in the stock market, they are backed by the issuing company.

Midland National offers six fixed index annuities tailored to meet specific financial needs:

• MNL Income Planning Annuity℠: This annuity caters to ages 50 to 79 and features penalty-free withdrawals and a guaranteed lifetime withdrawal benefit.
• MNL Endeavor® 8: For ages 0 to 85, this annuity provides flexible premiums and a range of interest crediting methods.
• MNL IncomeVantage® Pro: Designed for ages 40 to 79, this annuity offers penalty-free withdrawals and a unique strategy charge option for enhanced participation.
• MNL IndexBuilder®: This annuity comes in 10-year and 14-year schedules, with premium bonuses and penalty-free withdrawals.
• MNL RetireVantage®: MNL RetireVantage® offers flexible premiums, penalty-free withdrawals, and an optional additional benefit rider for added security.
• MNL Accelerate® 5: For ages 0 to 85, this annuity requires a single premium and has three interest crediting methods to choose from.

In addition to fixed index annuities, Midland National also offers traditional fixed annuities, such as multi-year guarantee annuities (MYGAs), which guarantee an interest rate for the selected time period. Single premium immediate annuities (SPIAs) are another type of traditional fixed annuity offered by Midland National, providing guaranteed income that can start immediately.

Midland National has helped protect financial futures for over 100 years and is licensed in all 50 states, as well as DC, Puerto Rico, and Guam. With a strong financial rating and a low NAIC Complaint Index, Midland National is a reliable option for annuities, offering tailored solutions to meet diverse financial needs.

Term, whole, universal, and indexed universal life insurance policies

Midland National Life Insurance offers a range of policy types, including term, whole, universal, and indexed universal life insurance. Each of these policy types provides different features and benefits to meet the diverse needs of individuals and families. Here is an overview of each type:

Term Life Insurance:

Term life insurance is a popular choice for those seeking simple and cost-effective coverage. This type of policy offers level premiums, which means the payments remain the same for a set number of years (the term). Term life insurance typically covers a fixed period, usually between 10 and 30 years, and includes a death benefit in the form of a lump sum paid to a beneficiary if the insured person passes away during the coverage period. This lump sum can be used for burial expenses, mortgage payments, living expenses, and more, and is generally tax-free. Term life insurance is often suitable for individuals on a tight budget or young people just starting their financial journey.

Whole Life Insurance:

Whole life insurance, as the name suggests, provides coverage for the insured's entire life. It has a fixed and guaranteed death benefit, and the premiums remain the same throughout the policy. One of the key features of whole life insurance is its ability to build cash value over time, which can be accessed by the insured while they are still alive. Whole life insurance also offers living benefits, allowing the insured to receive a portion of the death benefit while living if certain health conditions are met.

Universal Life Insurance:

Universal life (UL) insurance is a form of permanent coverage that provides protection for the insured's entire lifetime. Midland National offers guaranteed UL insurance, which includes a guaranteed death benefit that will pass tax-free to the beneficiaries. Unlike typical UL coverage, Midland National's policy is not designed to accumulate significant cash value.

Indexed Universal Life Insurance:

Indexed universal life (IUL) insurance offers both a death benefit and the opportunity to earn tax-deferred interest. The cash value of the policy is credited with interest based on the performance of a stock market index, such as the S&P 500. While this type of insurance protects against market downturns, it also has caps, participation rates, and spreads that limit potential gains. IUL policies offer flexible death benefits and adjustable premiums, similar to UL policies.

Midland Advisory RIA firm setup

Midland Advisory, a division of Midland National® Life Insurance Company, offers retirement solutions tailored to the needs of registered investment advisors (RIAs) and their clients. It is important to note that Midland Advisory does not issue insurance products.

Complete the necessary forms:

• IAR Information Form (32182Y): This form is required if you intend to service business through an RIA.
• Advisory Profile Form (32183Y): Fill out this form to be able to administer and service annuity contracts sold by agents appointed with Midland National.
• Advisor Fee Payment Request Form (32288Y): Submit this form to request advisory fee deductions.

Understand the fee structure:

How to Deduct Advisory Fees (32341Y): Refer to this document for instructions on how to request advisory fee deductions.

Access your online account:

How to Access MidlandNational.com Account (for advisors) (32504Y-ADV): Follow the instructions provided to access your Midland National web account.

Product training:

Midland Advisory RegEd Module Product Codes (34310Y): Access training for Midland Advisory products on RegEd using the provided instructions and product codes.

Client authorization:

Client Advisor Authorization Form (32041Y): This form is necessary for post-issue services changes.

Explore additional resources:

• Log into your Midland National account to access further service forms and manage your account.
• Discover innovative retirement solutions designed specifically for your advisory practice.
• Connect with Midland National's appointed insurance agents (financial professionals) who operate independently but can offer guidance on insurance products.

By following these steps, you can establish your RIA firm with Midland Advisory and leverage their expertise in retirement solutions to meet the needs of your clients effectively.

Frequently asked questions