Gerber Life Insurance vs Midland National Life Insurance Company
Comprehensive side-by-side comparison of indexed universal life insurance companies
Gerber Life Insurance
Founded: 1967
White Plains, New York
Assets
$52 billion+ in force (Western & Southern)
IUL Experience
0+ years
Products
0
Avg Cap Rate
N/A
Key Strengths
Does NOT offer IUL
Specializes in children's/family insurance
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 | Gerber Life Insurance | Midland National Life Insurance Company |
|---|---|---|
| Founded | 1967 | 1906 |
| Headquarters | White Plains, New York | West Des Moines, Iowa |
| Assets Under Management | $52 billion+ in force (Western & Southern) | $55 billion |
| Years in IUL Business | 0+ years | 15+ years |
| Number of IUL Products | 0 | 5 |
| Typical Cap Rate Range | N/A - N/A | 8% - 11% |
| Participation Rates | N/A | 115% |
| Minimum Premium | N/A | $3,600 annual |
| Issue Ages | N/A | 15 days to 79 years |
| Underwriting Speed | N/A | 2-4 weeks standard |