Midland National Life Insurance Company announced the immediate availability of the ExactApp electronic application submission tool for its indexed universal life insurance products.
Use of ExactApp will allow Midland National’s agents to schedule paramed exams online and submit complete application packages without re-keying the data. In addition to the increased efficiency of application submission, ExactApp will allow faster turnaround times and quicker commission payments.
"We’ve heard a lot of good things about Exact App from our agents, and they’ve asked us to extend it to our indexed universal life portfolio. Doing so now will mean increased ease of doing business for our agents and for us." said Jerry Blair, Vice President and Chief Distribution & Sales Officer. "It’s a win-win situation."
Indexed universal life insurance (IUL) is a form of permanent insurance that provides an opportunity to grow cash value, based on the performance of stock market indices, without the risk of investing directly in the market.
Popular features of IUL insurance include living benefits, like access to cash value in the form of policy loans, or access to a portion of the death benefit through the accelerated death benefit feature.
Midland National Life Insurance Company is a member of Sammons® Financial Group, Inc. Founded as Dakota Mutual Life Insurance Company in 1906, Midland National® Life Insurance Company has protected families and preserved legacies for generations.
Midland also offers a wide variety of traditional fixed and fixed index annuities and consistently ranks among the top fixed index annuity carriers in the US.