Wednesday, June 20, 2018

Midland National Affirmed A+ by Fitch Ratings

Midland National received an affirmed A+ for financial strength from Fitch Ratings, one of the major credit-rating agencies.

This score is based on Midland National’s “strong, stable operating performance” supported by the quality of their investments and capitalization, as well as low financial leverage. Fitch also rated Midland National’s parent company, Sammons Financial Group, as an A- in long-term Issuer Default Rating, stating that their “strong operating profitability demonstrates good relative earnings stability, driven by improving investment yields, good spread management and growing assets under management (AUM).

Fitch is one the most recognized leaders in financial information services, and their ratings reflect their opinion on a given entity’s ability to meet financial commitments.

Click here to learn more about Midland National’s A+ rating from Fitch.

Sammons® Financial Group is comprised of Midland National® Life Insurance Company, North American Company for Life and Health Insurance®, Sammons Institutional GroupSM, Inc. , and Sammons Financial Network® LLC, member FINRA.

Friday, June 8, 2018

XL-CV Max for Financial Protection and Growth

Stability is a staple of financial protection. Midland National’s recently launched XL-CV Max indexed universal life insurance product offers stability through death benefit protection, with a cash value accumulation feature. The life insurance policy offers the potential for cash value growth linked to the performance of a selected stock market index with a minimum interest rate guarantee. This allows policy holders the opportunity to earn interest based on the upward movement of a stock market index. without direct participation in the stock market.

“We’ve really enhanced our popular XL-CV product to include some new features that considerably increase cash value potential,” said Jerry Blair, Midland National’s vice president and chief distribution officer. “The new XL-CV Max provides death benefit protection with maximized performance and marketability.”

Qualified applicants for XL-CV Max can avoid the lab tests and paramedical exams typically associated with life insurance using Midland National’s other recently released offering – WriteAwaySM. Also included is an updated version of the Accelerated Death Benefit Endorsement1.

The release of new and updated offerings underpins Midland National’s ongoing commitment to present and future policy holders. Midland National knows life insurance needs are unique to everyone, so it strives to offer diverse, flexible options for maximized protection. 

Learn more about XL-CV Max:

1 – Subject to eligibility requirements. This product is not currently available in California.

Texas Residents:  Receipt of acceleration-of-life-insurance benefits may affect your, your spouse’s or your family's eligibility for public assistance programs such as medical assistance (Medicaid), Aid to Families with Dependent Children (AFDC), supplementary social security income (SSI), and drug assistance programs. You are advised to consult with a qualified tax advisor and with social service agencies concerning how receipt of such a payment will affect your, your spouse’s and your family's eligibility for public assistance.

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.
Life insurance policies have terms under which the policy may be continued in force or discontinued. Current cost of insurance rates and interest rates are not guaranteed. Therefore, the planned periodic premium may not be sufficient to carry the contract to maturity. Failure to meet premium requirements may result in a lapse in the policy and participation in the Index Accounts. The Index Accounts are subject to caps and participation rates. In no case will the interest credited be less than 0 percent. Please refer to the customized illustration provided by your agent for additional detail. 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. For costs and complete details, call or write Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Telephone 800-843-3316.
XL-CV Max (policy form series L147) and Accelerated Death Benefit Endorsement for Critical, Chronic and Terminal Illness (form series TR207) are issued by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Products, features, riders, endorsement or issue ages may not be available in all jurisdictions. Restrictions or limitations may apply.

Tuesday, May 8, 2018

Midland National Employees Graduate LOMA Program

Midland National Employees LOMA Graduates
Three employees of Midland National – Kayla Dill, Janelle Peterson and Joshua Woodard – completed the Fellow, Secure Retirement Institute (FSRI) program offered by LOMA, a premier international trade association for the insurance and financial services industry.

“This was truly an industry collaboration. The FSRI program has highly relevant and comprehensive content thanks to the outstanding industry support we received,” said Kathy Milligan, FLMI, ACS, senior vice president of LOMA’s Education and Training Division. “More than 200 professionals representing a broad cross-section of retirement organizations participated as subject experts and reviewers for courses in the Fellow, Secure Retirement Institute program.” 

Through training and enrichment opportunities, Midland National encourages problem solving, innovation, and advancement of employees to evolve its policies and services for families, individuals and businesses.

Launched in 2013, the FSRI program uniquely provides a comprehensive, seven-course curriculum about the retirement industry. Geared for employees in asset management firms, insurance companies, distribution organizations and recordkeeping companies, the FSRI program provides them an understanding of the plans and products they support and the complex retirement planning decisions their customers are facing.

If you’re interested in joining Midland National, check out open jobs on LinkedIn and the Sammons Financial Group Glassdoor page.

Thursday, May 3, 2018

Sammons Financial Group Receives Two Golden Quill Awards

IABC Golden Quill Award Banner
We all know that a picture is worth a thousand words, and at Sammons Financial Group (SFG), parent company of Midland National, that concept drove two award-winning communications campaigns about insurance and annuity products. The International Association of Business Communications presents Gold Quill awards to recognize excellence in strategic communications, and SFG received awards for their “Back of the Napkin” and “The Case for Fixed Index Annuities” campaigns.

These communications programs emphasized how simple yet powerful visual messages can help agents and independent marketing organizations (IMOs) develop their business. Back of the Napkin used illustrations to show agents and IMOs how to convey complex financial topics to customers in clear and understandable ways. The Case for Fixed Index Annuities explained the function and value of FIAs to agents, and it offered strategies on how they can incorporate these products into their insurance offerings, thereby growing their business.

SFG is proud to develop campaigns that support our agents and IMO partners, and the success of these communications campaigns will strengthen ours and our partners’ businesses in the future.

Wednesday, May 2, 2018

Jackie Cockrum Named Retirement Rising Star by LIMRA

Jackie Cockrum of Sammons Financial Group (SFG) was named one of LIMRA’s Retirement Rising Stars for 2018. This award recognizes financial services professionals under 40 who have implemented innovative ways to accomplish their jobs. A member of SFG for over five years, Jackie focuses on improving service delivery for Annuity Operations. She is an Assistant Vice President with experience in operations and business strategy.

The Retirement Rising Star program acknowledges future leaders in the financial services sector who are not only embracing change but also reacting in ground-breaking ways. LIMRA, which is a research organization for life and health insurance companies, created this award program to recognize the important work of creative and dedicated professionals who are pushing boundaries in financial services. Please join us in congratulating Jackie on this award.

Learn more about LIMRA.

Thursday, March 29, 2018

Sammons Financial Group Promotes Linda Durman to VP, Annuity Product Management

SFG VP Linda Durham Headshot
Midland National’s parent company, Sammons Financial Group, Inc. (SFG), is pleased to announce the promotion of Linda Durman to Vice President, Annuity Product Management. Durman successfully built the product management function for the fixed annuity business, and she has emphasized cross-functional collaboration by working closely with the actuarial and finance teams.

Since joining SFG in 2014, Durman has provided thought leadership around the building of new capabilities while also adapting existing processes to support sales. In her new role, she will have increased involvement with earnings and risk management. Please join us in congratulating her on this promotion.

Thursday, March 22, 2018

Rhonda Elming Promoted to SVP at Midland National Parent Company

Rhonda Elming Sammons Financial SVP Headshot

Sammons Financial Group, Inc. (SFG), Midland National’s parent company, is proud to announce the promotion of Rhonda Elming to Senior Vice President, Annuity Product Development. Since joining SFG in 2013, Elming has developed and managed teams across Annuity Product Development, Annuity Product Management, Product Filing, and Annuity Ad Review. Additionally, she has helped implement several new staff development programs including an intern program, job rotation program, and staff calibration.

Elming’s new role will feature increased involvement in risk management and reinsurance strategy for fixed annuities. Her cultivation of strong working relationships across teams and her dedication to driving results will positively impact all SFG stakeholders. We congratulate her on this well-deserved advancement.