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Fixed Indexed Annuity Details

MNL IndexBuilder 14

Product Name

MNL IndexBuilder 14

Annuity Type

Fixed Indexed Annuity

Issuing Insurance Company and Ratings

(2nd of 15 ratings)
(5th of 20 ratings)
Not Rated
(5th of 21 ratings)
(percentile of rated companies)

Product Information

The MNL IndexBuilder 14 is a deferred fixed indexed annuity issued by Midland National Life Insurance Company.

This annuity offers 11.00% as an upfront bonus. When your full premium deposit is allocated to the fixed interest account, the current first year yield (including bonus if applicable) is 12.33% (see Rate Details below).

You can also allocate your premium between 11 different strategy and index account options (see Index Account Options below). For complete details on index account options, including current cap and participation rates, please contact AnnuityAdvantage at 1.800.239.0356.

During the time in which the annuity is subject to surrender penalties, there are policy provisions that allow partial access on a penalty free basis. Beginning in the second contract year, this annuity provides up to 10% (noncumulative) of the contract value as the penalty free withdrawal amount that may be withdrawn from the annuity each contract year.

This annuity also waives withdrawal penalties upon death. Your named beneficiary(ies) will receive a death benefit equal to the full accumulation value. A beneficiary may choose to receive their death benefit in either a lump sum or select an available annuitization option.

Details on additional penalty waivers can be found in the Penalty Free Withdrawal Provisions section below.

Midland National Life Insurance Company is rated “A+” by A.M. Best, was founded in 1906, and has over $61.4 billion in total assets.

Rate Details

Jun 8th, 2021
Not Scheduled

Premium Amount: $75,000 - $1,000,000

Fixed Account First Year Yield: 12.33%
Upfront Bonus: 11.00%
Fixed Account Current Interest Rate: 1.20%
Fixed Account Guaranteed Minimum Interest Rate: 0.25%
Index Accounts - Annual Cap and Participation Rates:
Any Index – Highest Participation Rate: 50.00%
S&P 500 – Point-to-Point Cap: 2.75%
S&P 500 – Participation Rate: 20.00%

Initial Surrender Charge and MVA Periods

14 years

14 years

14 years

State variations may exist, refer to product disclosure for details.

Policy Details

45 days
Accumulation Value

Penalty Free Withdrawal Provisions

Annuitization, Death and Nursing Home

See product brochure, disclosure and riders for additional details, limitations and availability. State variations, age restrictions and holding periods may apply.

State Variations

Not available in:  AK, CT, DE, HI, ID, MN, MO, MT, NV, NY, OH, OK, OR, PA, SC, TX, UT, VA and WA (as of 06/15/2020)

For CA: Max Issue Age is 52

For IN: Max Issue Age is 74

For MA: No Nursing Home Waiver

For NH: No S&P 500® Low Volatility Daily Risk Control 8% Index and Max Issue Age is 74