16(5) | Opinion re Legality |
April 5, 2021
The Board of Directors
Midland National Life Insurance Company
Des Moines, Iowa
Re: | Registration Statement on Form S-1 of Midland National Life Insurance Company |
Registered Index-Linked and Variable Annuity – (the “Contract”)
Directors:
In my capacity as Associate General Counsel of Midland National Life Insurance Company (the “Company”), I have supervised the preparation of the Form S-1 Registration Statement for the Contract to be filed on April 6, 2021 by the Company with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Registration Statement”). I have examined such documents and such law as I considered necessary and appropriate, and on the basis of such examination it is my opinion that:
1. | The Company is duly organized and validly existing under the laws of the State of Iowa and has been duly authorized to issue the Contract by the Iowa Insurance Division. |
2. | The Contract, when issued as contemplated by the Registration Statement, will constitute legal, validly issued and binding obligations of the Company in accordance with the terms of the Contract. |
I hereby consent to the filing of this opinion as an Exhibit to said Form S-1 Registration Statement.
Sincerely,
/s/ Brett Agnew
Brett Agnew
Vice President, Associate General Counsel