Fixed index annuity review and rates

Summit Edge 5

The Summit Edge Fixed Index Annuity may be a good fit if you want: 
  • Protection against losses during stock market downturns 
  • Growth potential through multiple index options and crediting methods 
  • Guarantees through the certainty of a fixed rate option 
  • Stability provided by A+ rated Midland National┬« Life Insurance Company 
  • Tax deferral 
  • Death benefit to help provide a legacy to loved ones or a favorite cause 
  • Access to additional features including: 
    • Penalty-free withdrawals 
    • Nursing home confinement waiver
    • Flexible payout options 
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
3.25% Fixed
1-Year BlackRock ESG US 5% ER PTP Participation Rate
Point to Point
Annual
135% Participation
2-Year BlackRock ESG US 5% ER PTP Participation Rate
Point to Point
Biennial
185% Participation
1-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
180% Participation
2-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
265% Participation
1-Year S&P 500 LV DRC 5% TR PTP Spread
Point to Point
Annual
3% Spread
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
190% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
135% Participation
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
35% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
9% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2.55% Cap
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Annual
145% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
205% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
275% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
190% 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 BlackRock ESG US 5% ER PTP Participation Rate
Point to Point
Annual
145% Participation
2-Year BlackRock ESG US 5% ER PTP Participation Rate
Point to Point
Biennial
200% Participation
1-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
190% Participation
2-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
275% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2.75% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
10% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
35% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
145% Participation
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
200% Participation
1-Year S&P 500 LV DRC 5% PTP Spread
Point to Point
Annual
2% Spread
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Annual
155% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
220% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
285% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
200% Participation
1-Year S&P 500 Inverse Performance Triggered
Inverse Perf Triggered
Annual
8% Performance triggered

Surrender schedule

Year 1 2 3 4 5
Penalty 9% 9% 8% 6% 4%
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
Qualified: $5,000
Non-Qualified: 2000000%
Types of funds
Non-Qualified, IRA, Spousal IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, Inherited IRA, NQ Stretch, and TSP