Are North American Life Insurance and Midland National a reliable annuity company?

Shawn Plummer

CEO, The Annuity Expert

Wondering if North American or Midland National is a solid company to purchase an annuity or life insurance policy from? After reading this review, you’ll have a better understanding of both companies and if they are a solid choice to purchase a retirement plan or life insurance from.

North American Life Insurance Company and Midland National are sister companies underneath the Sammons Financial Group umbrella.

Confused About Annuities?

Are you new to annuities and unsure where to begin? Visit our Annuity Learning Lab for expert guidance and insights.

North American Life Insurance Ratings

Midland National Annuity Reviews

Midland National Ratings

  • A.M. Best Rating: A+ (Superior)
  • S&P Rating: A+ (Strong)
  • Fitch Rating: A+ (Stable)
  • Comdex Score: 89
Midland National Rating

The Pros

  • Their annuities offer principal protection with average growth potential.
  • Their immediate annuities and income riders offer guaranteed income for life.
  • Some of their annuities offer Long-Term Care assistance, even for qualified retirement plans.
  • Their fixed index annuities offer diverse index strategies for growing your retirement accounts.
  • One of the best-rated insurance companies in the United States.
Midland National Ratings

The Cons

  • They offer longer-term contracts.
  • Most of their indexes are complex, with just a few traditional indexes.
  • Guaranteed income payouts are “middle of the pack” compared to other annuity companies.
  • Their traditional fixed annuities offer interest rates based on premium amounts.
  • We don’t know how their renewal rates will adjust each anniversary with the current interest rate environment.

Next Steps

Midland National and North American have almost identical products. However, in most cases, Midland National offers slightly better benefits than North American.

Both are in the top 10 best-rated insurance companies for annuities.

The growth potential is above average on their fixed index annuities, while their lifetime income riders offer an average income payout compared to 157 other lifetime income riders.

Midland National

Request A Quote

Get help from a licensed financial professional. This service is free of charge.

Contact Us

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

Scroll to Top