Midland National Life Insurance Company has introduced Essential Guaranteed Universal Life into their UL product line. Essential Guaranteed UL is more affordable than the previous guaranteed UL product in almost all scenarios, while at the same time offering several favorable changes to underwriting:

  • In nearly all cases, premiums are lower than previous product especially with shorter pays, shorter guarantees and the standard underwriting class
  • Relaxed underwriting for preferred class
  • Preferred underwriting criteria added for ages 71-plus
  • Five underwriting classes
  • Death benefit guarantee to any age up to age 120 with no premiums after age 100
  • Low-cost premiums to guarantee death benefit
  • New Guaranteed Exchange Privilege: ability to exchange up to the policy’s specified amount to an accumulation type UL product without evidence of insurability or surrender charge
  • Two-year rolling target premiums

Essential Guaranteed UL is designed for clients seeking guaranteed lifetime death benefit protection and suits many individuals and purposes:

  • For conservative clients searching for death benefit guarantees
  • For meeting family obligations on a limited budget.
  • As protection for outstanding loans, whether these loans are personal or business.
  • To provide coverage on other family members through the Children’s Insurance Rider

For more information, visit www.mnlife.com/UL.