Overview
Sammons Financial Group is a major financial services holding company that operates primarily through its member companies: Midland National Life Insurance Company and North American Company for Life and Health Insurance. When an account holder passes away, you will typically interact with the specific subsidiary that held the policy, though their claims processes and contact centers are largely integrated.
This guide covers the estate process for Sammons Financial Group's primary subsidiaries. Whether the deceased held a life insurance policy or an annuity with Midland National or North American, the notification steps and requirements are similar.
Note: You may need to check the policy documents to confirm which specific Sammons company issued the policy (e.g., Midland National or North American) to ensure you use the correct forms, though the claims phone number is shared for life insurance.
This guide provides informational guidance only. It is not legal advice, and SwiftProbate is not a law firm. Laws and institutional procedures change — verify current requirements directly with Sammons Financial and consider consulting a qualified attorney.
Notification Process
How to Notify Sammons Financial of a Death
Step 1: Identify the Specific Company and Policy
Sammons Financial operates through multiple brands. Check the deceased's records for statements from:
- Midland National Life Insurance Company
- North American Company for Life and Health Insurance
- Sammons Institutional Group
Have the policy number ready. It typically appears on the top right of statements.
Step 2: Call the Claims Department
Contact the Life Claims department (shared by Midland and North American):
- Life Claims Phone: (800) 733-2524
- Annuity Claims Phone: (877) 880-6367
- Hours: Mon–Thu, 7:30 AM – 5:00 PM; Fri, 7:30 AM – 12:30 PM CST
When you call, the representative will:
- Verify the policyholder's information.
- Initiate the claim process.
- Send you the appropriate Claimant's Statement forms (via mail or email).
Step 3: Submit Required Documents
You can submit documents via mail or fax.
Mailing Address (Life Division):
Sammons Financial / Life Division
One Sammons Plaza
Sioux Falls, SD 57193
Fax for Life Claims:
(877) 841-6706
Email:
claims@sfgmembers.com (Verify security protocols with the agent before emailing sensitive documents)
Step 4: Processing and Payment
Once all requirements are received (claim form and death certificate), Sammons Financial aims to process the claim within 10 calendar days.
Required Documents
Documents Sammons Financial Requires
The specific documents depend on the type of policy (Life vs. Annuity) and the beneficiary designation.
Standard Requirements
| Document | Details |
|---|---|
| Certified Death Certificate | Must include cause and manner of death. One certified copy per policy is usually sufficient. |
| Claimant's Statement | The specific claim form provided by the representative (e.g., Form 26390Y). |
| Policy Document | The original policy contract, if available (sometimes required, but often optional if lost). |
If the Beneficiary is an Estate
| Document | Details |
|---|---|
| Letters Testamentary / Administration | Court-issued documents appointing the Executor or Administrator. |
| Estate Tax ID (EIN) | Required for tax reporting on interest paid. |
If the Beneficiary is a Trust
| Document | Details |
|---|---|
| Trust Certification | Verifying the trust's existence and the trustee's authority. |
| Trustee ID | Government-issued photo ID of the trustee. |
Annuity Claims
For annuity contracts, additional forms regarding distribution options (lump sum, spousal continuation, or 5-year deferral) will be required.
Account Types
How Sammons Financial Handles Different Policies
Life Insurance Policies
Life insurance benefits are generally paid directly to the named beneficiaries and bypass probate.
- Named Beneficiary: Funds are paid quickly (approx. 10 days) upon receipt of forms.
- No Beneficiary / Estate as Beneficiary: Funds are paid to the estate and must go through probate.
Timeline: 10–15 business days after forms are received.
Annuity Contracts
Annuities have different settlement options based on the relationship to the deceased:
- Spouse: Can often continue the contract (Spousal Continuation) or take a lump sum.
- Non-Spouse: Must take distribution (Lump sum, 5-year deferral, or life expectancy payments).
Timeline: 10–15 business days.
Retained Asset Accounts (Safe Access)
For large claim amounts, Sammons may offer a "Safe Access" account (a checking account) instead of a single check. This allows beneficiaries to earn interest while deciding how to use the funds.
State Considerations
How Your State Affects the Sammons Financial Process
Sammons Financial Group companies operate in all 50 states. State laws impact:
- Interest on Claims: Many states require insurers to pay interest on the death benefit from the date of death until payment.
- Contestability: If the policy was issued less than 2 years ago, the claim may undergo a contestability review, which takes longer.
- Small Estate Affidavits: If the estate is the beneficiary and the value is low, you may be able to use a state-specific Small Estate Affidavit instead of full probate.
Key State Variations
| State | Interest Requirement | Small Estate Threshold |
|---|---|---|
| California | Interest payable from date of death | $184,500 |
| New York | Interest payable from date of death | $50,000 |
| Texas | Interest payable + statutory penalty for delays | $75,000 |
| Florida | Interest payable from date of death | $75,000 |
For detailed probate requirements, see our state and county probate guides.
Timelines
How Long Sammons Financial Takes to Release Funds
Sammons Financial generally processes claims faster than traditional bank estate departments.
| Account Type | Estimated Timeline | Key Factor |
|---|---|---|
| Life Insurance (Clean Claim) | 10–14 calendar days | After all forms received |
| Life Insurance (Contestable) | 3–6 months | If death within 2 years of policy issue |
| Annuity Claim | 10–15 business days | Depends on distribution option selected |
| Estate as Beneficiary | 3–6+ months | Depends on court issuing Letters Testamentary |
Note: The "10-day goal" applies after they receive the final required document.
Tips & Pitfalls
Common Pitfalls and Tips
Check for Multiple Policies
Sammons Financial owns both Midland National and North American. The deceased may have had policies with both. Ask the representative to search the Social Security number across all member companies.
Do Not Send Original Policy Unless Asked
Usually, you do not need to surrender the original policy contract. If you do, keep a copy for your records.
Interest is Taxable
While the life insurance death benefit is generally income-tax-free, any interest paid on the claim (from date of death to payment) is taxable income. You will receive a Form 1099-INT.
Contestability Period
If the policy is less than two years old, the company will investigate the medical history to ensure the application was accurate. This is standard industry practice but delays payment.
Spousal Continuation (Annuities)
If you are a surviving spouse inheriting an annuity, ask about Spousal Continuation. This allows you to take over the policy without triggering immediate taxes, which is often better than a lump sum payout.