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Fixed Indexed Annuity Details

MNL RetireVantage 14 without OABR

Product Name

MNL RetireVantage 14 without OABR

Annuity Type

Fixed Indexed Annuity

Issuing Insurance Company and Ratings

A+
(2nd of 15 ratings)
A+
(5th of 20 ratings)
Not Rated
A+
(5th of 21 ratings)
89
(percentile of rated companies)

Product Information

The MNL RetireVantage 14 without OABR is a deferred fixed indexed annuity issued by Midland National Life Insurance Company.

This annuity is a premium banded product. The rates you are eligible to earn will vary depending on the amount of premium you deposit (see Rate Details below). When your full premium deposit is allocated to the fixed interest account, the highest first year yield available (including bonus if applicable) is 2.25% on premium amounts of $75,000 - $1,000,000.

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this annuity provides up to 10% (noncumulative) of the contract value as the penalty free withdrawal amount that may be withdrawn from the annuity each contract year.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 High-Band

Current
Fixed Account First Year Yield: 2.25%
Fixed Account Current Interest Rate: 2.25%
Fixed Account Guaranteed Minimum Interest Rate: 0.25%
Index Accounts - Annual Cap and Participation Rates:
Any Index – Highest Participation Rate (WITH Charge/Fee): 125.00%
Any Index – Highest Participation Rate (NO Charge/Fee): 85.00%
S&P 500 – Point-to-Point Cap (NO Charge/Fee): 4.50%

Premium Amount: $20,000 - $74,999 Low-Band

Current
Fixed Account First Year Yield: 1.85%
Fixed Account Current Interest Rate: 1.85%
Fixed Account Guaranteed Minimum Interest Rate: 0.25%
Index Accounts - Annual Cap and Participation Rates:
Any Index – Highest Participation Rate (WITH Charge/Fee): 110.00%
Any Index – Highest Participation Rate (NO Charge/Fee): 65.00%
S&P 500 – Point-to-Point Cap (NO Charge/Fee): 4.00%

Initial Surrender Charge and MVA Periods

14 years

14 years

14 years

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

Policy Details

$20,000
$20,000
$1,000,000
$1,000,000
75
75
45 days
Yes
Accumulation Value
No

Penalty Free Withdrawal Provisions

None
10%
No
Yes
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, ID, MN, MO, MT, NV, NJ, NY, OH, OK, OR, PA, SC, TX, UT and WA (as of 06/15/2020)

For CA: Max Issue Age is 52

For MA: No Nursing Home Waiver

For NH: No S&P 500® Low Volatility Daily Risk Control 8% Index

For VA: No Market Value Adjustment (MVA)

Notes

Without OABR (Optional Additional Benefit Rider)