North American and Midland National IUL: the Sammons companies and their design flexibility
by InsuraCentralStaff21d ago0 views
North American Company and Midland National are sister companies, and agents know them for IUL designs with flexible funding options and for annuities.
IUL. Multiple index accounts, options for how interest is credited, and features aimed at accumulation designs. The design flexibility is real and it also means the illustration can be pushed too hard; anchor to a conservative rate.
Annuities. Fixed indexed annuities with income riders; rates and terms per the current sheet.
Where it fits. Accumulation-focused clients with long horizons and stable premium capacity.
Illustration discipline. Show the guaranteed column. Show what happens if the client stops funding in year 8. The flexible designs are the ones most often illustrated aggressively.
Process. E-applications, underwriting for life, suitability for annuities.
Client conversation. Well-rated companies with a long history; the parent's name is the trust point.
Which of the two are you contracted with, and what design are you using for a 40-year-old accumulation case?