Midland National Life Insurance Company has enjoyed an impressive history of over 100 successful years in the insurance industry, starting out as Dakota Mutual Life Insurance Company in the Black Hills of South Dakota in 1906. In 1990, the company had a very small presence in the annuity industry. At that time, the opportunity existed to create enduring value by expanding annuity sales. A handful of experienced employees started a new division in Des Moines, Iowa in a temporary office with four computers, card tables and folding chairs. It was from these humble beginnings that Sammons Annuity Group was formed. The group quickly created an innovative agent direct distribution system attracting successful personal producers.
By 2001, the Annuity Service Center was formed and annuity business for North American Company for Life and Health Insurance was added. Both Midland National and North American offer a wide array of fixed and fixed index annuities. Throughout their history, they have enjoyed strong industry ratings, steady growth, stability, and industry success. The basis of their strength comes from a focus on long-term, sustained growth, coupled with the outstanding achievements of agents, distribution partners, and employees.
The companies offer a wide variety of traditional and fixed index annuities. The fixed index annuities offer multiple crediting methods and index account options along with competitive optional guaranteed lifetime withdrawal benefits for lifetime income. The products are focused on providing multiple options for clients and the companies strive to maintain one of the most diverse and competitive product lines in the industry.
Today, the Annuity Group is responsible for production, product development, management and operations as it relates to annuities for both insurance companies owned by Sammons Enterprises; Midland National and North American. The combined sales of the Annuity Division consistently rank within the top 10 Indexed Annuity carriers in the U.S. (Source: AnnuitySpecs.com, Quarterly Indexed Sales & Market Report).