Fixed index annuity review and rates

LiveWell Preferred 5

The LiveWell Preferred 5 is a flexible premium deferred fixed index annuity. An annuity is a long-term Contract issued by an insurance company. In exchange for a premium payment, the insurance company agrees to make payments to you later on. This annuity provides an accumulation value that may earn interest through a fixed account and various index accounts (if selected). While the fixed account earns a fixed rate of interest each year, index accounts earn interest credits based on how an underlying index performs. Interest credits are guaranteed to never be less than zero. This annuity also provides several options for accessing funds. 
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
2.45% Fixed
1-Year Fixed Account (TX Only)
Fixed
2.45% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
7.1% Cap
1-Year S&P 500 LV DRC 5% PTP Spread
Point to Point
Annual
2.15% Spread
1-Year S&P 500 LV DRC 5% PTP Participation Rate
Point to Point
Annual
70% Participation
2-Year S&P 500 LV DRC 5% PTP Participation Rate
Point to Point
Biennial
105% Participation
1-Year Fidelity Multi factor Yield 5% ER PTP Participation Rate
Point to Point
Annual
110% Participation
2-Year Fidelity Multi factor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
160% Participation
1-Year Fixed Account
Fixed
2.55% Fixed
1-Year Fixed Account (TX Only)
Fixed
2.55% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
7.35% Cap
1-Year S&P 500 LV DRC 5% PTP Spread
Point to Point
Annual
1.95% Spread
1-Year S&P 500 LV DRC 5% PTP Participation Rate
Point to Point
Annual
80% Participation
2-Year S&P 500 LV DRC 5% PTP Participation Rate
Point to Point
Biennial
115% Participation
1-Year Fidelity Multi factor Yield 5% ER PTP Participation Rate
Point to Point
Annual
120% Participation
2-Year Fidelity Multi factor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
170% Participation
1-Year Fixed Account
Fixed
2.75% Fixed
1-Year Fixed Account (TX Only)
Fixed
2.75% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
7.6% Cap
1-Year S&P 500 LV DRC 5% PTP Spread
Point to Point
Annual
1.75% Spread
1-Year S&P 500 LV DRC 5% PTP Participation Rate
Point to Point
Annual
85% Participation
2-Year S&P 500 LV DRC 5% PTP Participation Rate
Point to Point
Biennial
120% Participation
1-Year Fidelity Multi factor Yield 5% ER PTP Participation Rate
Point to Point
Annual
125% Participation
2-Year Fidelity Multi factor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
175% Participation

Surrender schedule

Year 1 2 3 4 5
Penalty 8% 8% 8% 7% 6%

Riders

Name Inbuilt Fee
LiveWell Legacy Protector No 0.35% annually
Midland National Life Insurance Company
Founded: 1906
A.M. Best: A+
Fitch: A+
S&P: A+
Carrier details
Free withdrawal
1st year: 0%
2nd+ year: 10%
Surrender schedule
5 years
Return of premium
Market value adjustment
Minimum contribution
$10,000
Types of funds
Non-Qualified, IRA, SEP IRA, IRA-Roth, Inherited IRA, NQ Stretch, and TSP