Strength Since 1906

Midland Nationals story is a classic example of American perseverance and ingenuity. Weve survived and thrived through two world wars, the Great Depression and multiple recessions. Today, were here to help you thrive.

Needs and Goals

Indexed Universal Life products are not an investment in the market or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance. XL-EC3 (policy form series L134) and the Accelerated Benefit Riders ABR-C (form series TR137A) and ABR-T (form series TR138A) are underwritten and issued by Midland National Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD, 57193. Products, features, endorsements, riders or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply. Standard & Poors, S&P, S&P MidCap 400, S&P 500, Standard & Poors 500, Standard & Poors 400, 400 and 500 are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Midland National. The Dow Jones Industrial AverageSM is a product of Dow Jones Indexes, the marketing name and a licensed trademark of CME Group Index Services LLC ("CME Indexes"), and has been licensed for use. "Dow Jones", "Dow Jones Industrial AverageSM", "DJIASM" and "Dow Jones Indexes" are service marks of Dow Jones Trademark Holdings, LLC ("Dow Jones"), have been licensed to CME Indexes and sublicensed for use for certain purposes by Midland National. Midland National's Indexed Universal Life Insurance products, based on the Dow Jones Industrial AverageSM, are not sponsored, endorsed, sold or promoted by Dow Jones, CME Indexes or their respective affiliates and none of them makes any representation regarding the advisability of investing in such products. The EURO STOXX 50 is the intellectual property of (including registered trademarks) STOXX Limited, Zurich, Switzerland and/or its licensors ("Licensors"), which is used under license. The Index Accounts for this Product based on the Index are in no way sponsored, endorsed, sold or promoted by STOXX and its Licensors and neither of the Licensors shall have any liability with respect thereto. The NASDAQ100, NASDAQ-100 INDEX and NASDAQ are registered marks of the NASDAQ Stock Market Inc. (which with its affiliates are the Corporations) and are licensed for use by Midland National. This product has not been passed on by the Corporations as to their legality or suitability. This product is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THIS PRODUCT. THIS INDEX DOES NOT INCLUDE DIVIDENDS PAID BY THE UNDERLYING COMPANIES. Russell 2000 Index is a trademark of Frank Russell Company and has been licensed for use by Midland National. This indexed universal life product is not sponsored, endorsed, sold or promoted by Standard & Poors, DOW JONES INDUSTRIAL AVERAGESM, EURO STOXX 50, NASDAQ100, and Russell 2000 and they make no representation regarding the advisability of purchasing this contract or investing in this product. Life insurance policies have terms under which the policy may be continued in force or discontinued. Current cost of insurance rates and interest rates are not guaranteed. Therefore, the planned periodic premium may not be sufficient to carry the contract to maturity. The Index Accounts are subject to caps and participation rates. In no case will the interest credited be less than 0 percent. Please refer to the customized illustration provided by your agent for additional detail. The policys death benefit is paid upon the death of the insured. The policy does not continue to accumulate cash value and excess interest after the insureds death. For costs and complete details, call or write Midland National Life Insurance Company, Sioux Falls, SD 57193. Telephone (605) 335-5700. Midland National Life Insurance Company does not give legal or tax advice. Please consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.

We all have needs and goals. Your financial needs and goals may fit into three categories: protection, growth, and safety. A sound financial plan including an XL-EC3 (Indexed Universal Life Early Cash) life insurance policy can help fulfill your needs and goals.
Death benefit protection to ensure that your loved ones can continue without financial interruptions. High, early cash value opportunities. Plus, long-term tax-deferred growth of your money to supplement retirement income1 and generally tax-free ways to use the cash value. A product that provides a floor during market downturns and provides the ability to participate in market growth.

Feature
Protection

XL-EC3
Permanent life insurance Does not expire after a specific term. The death benefit is generally free from income taxes. A No-Lapse Guarantee2 of up to 15 years depending on issue age. The Index Account provides the opportunity for tax-deferred1 growth of the policys cash value based on the upward movement of an index without the risk of investing directly in the market. Guaranteed Net Zero-Cost Loans Loans against the policys cash value with a net-zero cost. Beginning policy year six, loans have no net cost because loan interest and credited interest are both set at 3% resulting in a 0% net loan interest rate. Its a generally income tax-free way to use the cash value of your policy as you see fit. No Premium Load Provides cash value potential by building high, early cash values. Waiver of Surrender Charge Option Maximizes the amount of cash value available in the policys early years. Interest credited is never less than zero percent The Index Account has a zero percent floor and cant lose money due to poor index performance. Minimum Policy Fund Value Every eight years, well make sure that the account value has earned at least 3% calculated from policy issue. The stability of a privately held company with employee owners.3

Growth

Safety

Administrative Office One Sammons Plaza Sioux Falls, SD 57193 15347 11/11

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Protection
XL-EC3 offers a death benefit paid to your loved ones generally free from income taxes. XL-EC3 is a permanent policy it doesnt expire after a time-frame like term insurance. paying only the premium required to satisfy the No-Lapse Guarantee, you could forgo the advantage of building significant cash value.

Safety
Never Less than Zero Percent
The Index Account has a zero percent floor and its starting value is reset each year. If the index experiences negative growth or no growth, negative index credits will not be applied to the Index Account, as we provide a 0% floor on any index credits. In no case will the interest credited be less than zero percent. So, negative index performance wont inhibit your earning potential.
Minimum Policy Fund Value is greater than the policy fund generated by the actual index credits and the actual interest credited, the Minimum Policy Fund Value is used.

Death Benefit Options No-Lapse Guarantee2

XL-EC3 offers a No-Lapse Guarantee that is the lesser of 15 years or attained age 75, but will never be less than ten years. This means that your policy will not lapse during the No-Lapse Guarantee period, as long as minimum premium requirements are met. Note that by Level The death benefit is equal to the face amount. Increasing The death benefit is equal to the face amount plus the account value. Return of Premium The death benefit equals the face amount plus the sum of premiums, minus any withdrawn amounts.

Accelerated Death Benefit Riders

Midland National offers options that allows the policyowner to accelerate a portion of the death benefit should the insured become chronically or terminally ill, subject to eligibility. The funds could be used to cover any expense including nursing or home health care costs. This riders are included for no additional charge at issue on eligible policies6.

Minimum Policy Fund Value

Growth
As premiums are paid, some premium is used to pay for the costs of your life insurance coverage. The rest is allocated to a Fixed Account offering a guaranteed minimum interest rate of 3%; to an Index Account linked to the growth of a stock market index; or to a combination of both. Growth in the Fixed Account and Index Account is tax-deferred1.

Choice of Policy Loans4

XL-EC3 offers standard, variable interest rate and net-zero cost loans. For more information and to determine which policy loan type may be right for you, please ask your agent for the Accessing Your Cash Value brochure (14710).

The Minimum Policy Fund Value feature guarantees a 3% average annual return calculated from policy issue regardless of whether premiums were allocated to the Fixed Account or the Index Account. (Monthly deductions are subtracted from the Minimum Policy Fund Value and surrender charges apply.) Every eight years (or upon death, lapse, surrender, or policy maturity), well compare the policy fund to the Minimum Policy Fund Value. If the

Stability
As a private, employee-owned3 company, Midland National is not subject to the short-term earnings pressures that publicaly held companies often face. We are a company with plans to perpetuate itself for hundreds of years, not the next quarter or fiscal year. We focus on the long term. We focus on you.

How an Index Account Works

1. When premium is placed into an Index Account the beginning value of the index is recorded. 2. At the end of the designated period, the change in index value is calculated using the appropriate index crediting method. 3. If the calculation results in growth, the earnings are credited to your policys Index Account. If the calculation results in negative growth or no growth, the value in the Index Account will remain the same.

Waiver of Surrender Charge Option5

For a monthly fee of a few cents per $1,000 of specified death benefit amount, we will waive the surrender charge should you surrender the policy early. This option is especially helpful if you need early cash Index value for personal or business needs. 1 S&P 500 When the Waiver of Surrender Charge 2 S&P 500 Option is elected, Table Shaving is also 3 S&P 500 available. When you apply for life insurance 4 Dow Jones coverage, your health is evaluated and a Industrial AverageSM corresponding rating is applied. Table Shaving allows certain substandard 5 Dow Jones underwriting ratings to be improved to Industrial AverageSM a standard rating. This rating involves 6 NASDAQ-100 lower life insurance charges than 7 S&P Midcap 400 substandard ratings. 8 S&P Midcap 400 No Premium Load 9 Russell 2000 This feature reduces the ultimate cost of 10 Russell 2000 insurance and allows premiums to earn 11 EURO STOXX 50 interest immediately. When combined with the optional Waiver of Surrender 12 Optimal Strategy Charge Option, it offers the potential for (Multi-Index) strong early cash value. 13 Uncapped S&P 500

Your Needs and Goals

Crediting Method
Annual Point-to-Point Monthly Point-to-Point Daily Averaging Annual Point-to-Point Daily Averaging Annual Point-to-Point Annual Point-to-Point Daily Averaging Annual Point-to-Point Daily Averaging Annual Point-to-Point Optimal (Multi-Index) Annual Point-to-Point Annual Point-to-Point
1 The tax-deferred feature of the indexed universal life policy is not necessary for a tax-qualified plan. In such instances, you should consider whether other features, such as the death benefit and optional riders make the policy appropriate for your needs. Before purchasing this policy, you should obtain competent tax advice both as to the tax treatment of the policy and the suitability of the product. 2 Coverage is guaranteed the earlier of 15 years or attained age 65 provided the 15-year no lapse guarantee premium requirement is met. If you do not meet this requirement significantly higher premiums may be necessary to keep the policy in effect. Paying a premium that is equal to, but not greater than the 15-year no lapse guarantee premium will keep the policy in effect but may result in a negative or zero account value. By paying only the 15-year no lapse guarantee premium you may be forgoing the opportunity to build more cash value. 3 Employees of the member companies of SFG and Sammons Enterprises do not include independent insurance producers, registered representatives, regional sales directors, managing general agents or broker/dealers appointed with Midland National Life Insurance Company or Sammons Securities Company. 4 Policy loans from life insurance policies generally are not subject to income tax, provided the contract is not a Modified Endowment Contract, as defined by Section 7702A of the Internal Revenue Code. A policy loan or withdrawal from a life insurance policy that is a Modified Endowment Contract is taxable upon receipt to the extent cash value of the contract exceeds premium paid. Policy loans and withdrawals will reduce cash value and death benefit. Policy loans are subject to interest charges. Consult with and rely on your tax advisor or attorney on your specific situation. 5 For all classes and genders except on standard tobacco. The monthly charge per $1,000 of Face Amount ranges from $0.03 to $0.05 per month. For standard tobacco, the monthly charge per $1,000 of Face Amount ranges from $0.05 to $0.08. If the Policy is surrendered to another company to achieve an exchange under Section 1035, Surrender charges will not be waived. 6 The death benefit will be reduced by the amount of the death benefit accelerated. Since benefits are paid prior to death, a discount will be applied to the death benefit accelerated. As a result, the actual amount received will be less than the amount of the death benefit accelerated. In Massachusetts, the Acceleated Death Benefit amount is payable only for expenses incurred for Qualified Long-Term Care Services. Refer to rider form for details.

Make sure you have the right combination of protection, growth, and safety in your financial plan. XL-EC3 can be an effective way to enhance your perspective on the future. Your agent can help develop and illustrate an XL-EC3 plan thats tailored to you.

Talk to your agent about XL-EC3 today.

Index Selections
Midland National offers six indexes and four crediting methods combined for a total of 13 index selections. Depending on the index selection, the amount of interest credited may be adjusted compared to the actual index growth by an index cap or participation rate. Cap Rate: The maximum rate that can be credited to an index selection. Participation Rate: The percentage of the index growth credited to an index selection.

For more information on index selections and crediting methods, please ask your agent for the Index Selections brochure (10728). For more information about our caps and participation rates, current fixed account rates, interest bonuses, and loan rates please ask your agent for the Interest and Index Options brochure (12099).

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