Fixed index annuity review and rates

MNL Capital Income

The Midland National Capital Income is a single premium deferred fixed index annuity. 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
7-Year Fixed Account
4% Fixed
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
170% Participation
1-Year S&P 500 PTP Participation Rate with Spread
Point to Point
50% Participation
2% Spread
1-Year S&P 500 PTP Cap
Point to Point
7.5% Cap

Surrender schedule

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


Name Inbuilt Fee
Capital Income GLWB Level Yes 1.00% annually
Capital Income GLWB Increasing Yes 1.00% annually
Midland National Life Insurance Company
Founded: 1906
A.M. Best: A+
Fitch: A+
S&P: A+
Carrier details
Free withdrawal
Surrender schedule
7 years
Return of premium
Market value adjustment
Minimum contribution
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, 1035 Exchange, and TSP