Summit Discovery 7 Rate & Reviews

Summit Discovery 7

The Summit Discovery Fixed Index Annuity may be a good fit if you want:

Protected lifetime income options, providing flexibility depending on your needs
DOUBLE your payments for up to 5 contract years if you are unable to perform 2 out of the 6 ADLs
Protection against losses during stock market downturns
Growth potential for your:
- GLWB value, through a guaranteed lifetime withdrawal benefit (GLWB) stacking roll-up credit
- Accumulation value, through multiple index options and crediting methods
Guarantees through the certainty of a fixed rate option
Stability provided by Midland National Life Insurance Company

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	3.2% Fixed
1-Year S&P 500 PTP Monthly Sum Cap	Point to Point Annual Monthly sum	2.4% Cap
1-Year S&P 500 PTP Cap	Point to Point Annual	6.5% Cap
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	30% Participation
1-Year S&P 500 PTP Daily Average Spread	Point to Point Annual Daily average	6% Spread
1-Year S&P MARC 5% ER PTP Participation Rate	Point to Point Annual	125% Participation
2-Year S&P MARC 5% ER PTP Participation Rate	Point to Point Biennial	175% Participation
1-Year S&P 500 LV DRC 5% TR PTP Spread	Point to Point Annual	2% Spread
2-Year S&P 500 LV DRC 5% TR PTP Spread	Point to Point Biennial	0.75% Spread
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate	Point to Point Biennial	185% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate	Point to Point Annual	130% Participation
1-Year S&P 500 Inverse Performance Triggered	Inverse Perf Triggered Annual	7.5% Performance triggered
1-Year Fixed Account	Fixed	3.5% Fixed
1-Year S&P 500 PTP Monthly Sum Cap	Point to Point Annual Monthly sum	2.5% Cap
1-Year S&P 500 PTP Cap	Point to Point Annual	7.5% Cap
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	30% Participation
1-Year S&P MARC 5% ER PTP Participation Rate	Point to Point Annual	135% Participation
2-Year S&P MARC 5% ER PTP Participation Rate	Point to Point Biennial	190% Participation
1-Year S&P 500 LV DRC 5% TR PTP Spread	Point to Point Annual	1.5% Spread
2-Year S&P 500 LV DRC 5% TR PTP Spread	Point to Point Biennial	0.25% Spread
1-Year S&P 500 PTP Daily Average Spread	Point to Point Annual Daily average	4.5% Spread
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate	Point to Point Biennial	200% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate	Point to Point Annual	145% Participation
1-Year S&P 500 Inverse Performance Triggered	Inverse Perf Triggered Annual	8% Performance triggered

Surrender schedule

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

Riders

Name	Inbuilt	Fee
Summit Discovery GLWB	Yes	None
Summit Discovery Increasing GLWB	Yes	None