Ameritas Life vs Midland National Life Insurance Company
Comprehensive side-by-side comparison of indexed universal life insurance companies
Ameritas Life
Founded: 1887
Lincoln, Nebraska
Assets
$20 billion
IUL Experience
3+ years
Products
4
Avg Cap Rate
9.5%
Key Strengths
Offers 4+ IUL products
Growth IUL, FLX IUL, Ethos IUL (partnership)
Instant underwriting (launched Sept 2023 with Ethos)
Midland National Life Insurance Company
Founded: 1906
West Des Moines, Iowa
Assets
$55 billion
IUL Experience
15+ years
Products
5
Avg Cap Rate
9.5%
Key Strengths
MoneyGeek 2025: Best cheap universal life insurance
115+ year history
Employee-owned structure (Sammons Financial Group)
Fewer complaints than expected (NAIC)
GUL swap option without new underwriting
Detailed Feature Comparison
| Feature | Ameritas Life | Midland National Life Insurance Company |
|---|---|---|
| Founded | 1887 | 1906 |
| Headquarters | Lincoln, Nebraska | West Des Moines, Iowa |
| Assets Under Management | $20 billion | $55 billion |
| Years in IUL Business | 3+ years | 15+ years |
| Number of IUL Products | 4 | 5 |
| Typical Cap Rate Range | 8% - 11% | 8% - 11% |
| Participation Rates | 115% | 115% |
| Minimum Premium | $3,600 annual | $3,600 annual |
| Issue Ages | 0-85 years | 15 days to 79 years |
| Underwriting Speed | Instant to 3 weeks | 2-4 weeks standard |