Term Life Insurance:
Term life insurance policies provide affordable, temporary coverage. Term policies contain no cash value and are designed for death benefit protection only. The premiums may be level for the first 10, 15, 20 or 30 years, depending on the policy selected. Because the death benefit protection is for a limited period, the premium is often the lowest of all types of life insurance policies. However, after the level term period, premiums go up significantly and increase annually.
Whole Life Insurance:
Whole life is the traditional form of permanent life insurance. It provides the certainty of level premiums, a guaranteed interest rate and a guaranteed death benefit1. Whole Life provides the extra security of guaranteed protection at affordable rates, yet it includes the element of cash value accumulation.
Universal Life Insurance:
Universal life is a flexible premium, adjustable life insurance product that provides you with the flexibility of choosing the policy features that are appropriate for you and adjusting those features as your financial priorities and needs change. Policy cash value that grows on a tax-deferred basis2.
Indexed Universal Life:
Indexed universal life is a version of universal life that combines death benefit protection with the opportunity to grow cash value through an account that credits interest based upon the upward movement of stock market indexes – without the risk of investing directly in the market. The Index Account features a zero percent floor which guarantees your account won't earn less than zero percent due to poor market performance.
Variable Universal Life:
Variable universal life insurance is designed to provide solid death benefit protection and the potential for cash accumulation. The combination of flexibility, attractive tax features, and Separate Account investment portfolios create life insurance products that you can tailor to your insurance needs, risk orientation and long-term objectives.
Please consider the fund's investment objectives, risks, charges and expenses carefully before investing. The product prospectus and the fund prospectuses contain this and other information about the funds and Midland National's variable products and the funds. To obtain current product and fund prospectuses, you can call or write to Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD, 57193-0001, (605) 335-5700. Please read the prospectus carefully before you invest or send any money.
1. Guarantees are based on the claims-paying ability of Midland National.
2. Midland National does not give tax or legal advice. You should consult a professional prior to making a purchasing decision.
Life insurance policies have terms under which the policy may be continued in force or discontinued. Current risk rates and interest rates are not guaranteed. Therefore, the planned periodic premium may not be sufficient to carry the contract to maturity. For Indexed Universal Life policies, the Index Accounts are subject to caps and participation rates and in no case will the interest credited be less than 0 percent. The policy's death benefit is paid upon the death of the insured. The policy does not continue to accumulate cash value and excess interest after the insured's death. Please refer to the customized illustration provided by your agent for additional detail. For costs and complete details, call or write Midland National Life Insurance Company, Administrative Office, One Sammons Plaza Sioux Falls, SD 57193. Telephone: (605) 335-5700.
Variable products distributed by Sammons Financial Network® LLC, member FINRA. Sammons Financial Network® LLC and Midland National® Life Insurance Company are affiliated companies and indirect wholly owned subsidiaries of Sammons Enterprises, Inc. of Dallas, Texas.
Indexed Universal Life 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.
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