Fixed index annuity review and rates

MNL Income Planning Annuity

With the MNL Income Planning Annuity, you can rest confidently knowing what your guaranteed payout will be. While life doesn’t always offer the same kind of guarantees, the GLWB helps protect you for some of the unpredictable “what ifs” in life. 
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
2.5% Fixed
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
160% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Spread
Point to Point
Annual
1-Year S&P 500 LV DRC 5% TR PTP Cap
Point to Point
Annual
5% Cap
1-Year S&P 500 LV DRC 5% TR PTP Spread
Point to Point
Annual
2% Spread
2-Year S&P 500 LV DRC 8% TR PTP Spread
Point to Point
Biennial
3.5% Spread
1-Year S&P 500 PTP Daily Average Spread
Point to Point
Annual
Daily average
5% Spread
1-Year S&P 500 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
2% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
5% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
25% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
100% Participation
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
150% Participation
1-Year Nasdaq-100 PTP Monthly Average Cap
Point to Point
Annual
Monthly average
2.1% Cap
1-Year S&P 500 Inverse Performance Triggered
Inverse Perf Triggered
Annual
6% Performance triggered

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 10% 10% 10% 10% 10% 9% 8% 6% 4% 2%

Riders

Name Inbuilt Fee
MNL Income Planning Rider Yes 1.25% annually
Midland National Life Insurance Company
Founded: 1906
A.M. Best: A+
Fitch: A+
S&P: A+
Carrier details
Free withdrawal
5%
Surrender schedule
10 years
Return of premium
Market value adjustment
Minimum contribution
$20,000
Types of funds
Non-Qualified, IRA, SEP IRA, IRA-Roth, and TSP