Summit Edge 5
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Learn how an annuity can provide guaranteed income for life.
Highlights
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
Type
|
Fixed Index
|
---|---|
Term
|
5 Years |
Surrender schedule
|
9%8.5%7.5%5.5%4% |
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
Market value adjustment
|
|
Return of premium
|
|
Minimum contribution
|
Qualified: $5,000 Non-Qualified: $20,000 |
Types of funds
|
Non-Qualified, IRA, Spousal IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, Inherited IRA, NQ Stretch, and TSP |
Brochure
|
Open brochure |
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
2.85%
Fixed
|
1-Year BlackRock ESG US 5% ER PTP Participation Rate |
Point to Point
Annual
|
165%
Participation
|
2-Year BlackRock ESG US 5% ER PTP Participation Rate |
Point to Point
Biennial
|
215%
Participation
|
1-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
210%
Participation
|
2-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
300%
Participation
|
1-Year S&P 500 LV DRC 5% TR PTP Spread |
Point to Point
Annual
|
5%
Spread
|
2-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Biennial
|
220%
Participation
|
1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
165%
Participation
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
40%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.75%
Cap
|
1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.05%
Cap
|
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Annual
|
175%
Participation
|
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Biennial
|
235%
Participation
|
2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
300%
Participation
|
1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
210%
Participation
|
1-Year S&P 500 Inverse Performance Triggered |
Inverse Perf Triggered
Annual
|
7.5%
Performance triggered
|
1-Year Fixed Account |
Fixed
|
3.1%
Fixed
|
1-Year BlackRock ESG US 5% ER PTP Participation Rate |
Point to Point
Annual
|
175%
Participation
|
2-Year BlackRock ESG US 5% ER PTP Participation Rate |
Point to Point
Biennial
|
230%
Participation
|
1-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
220%
Participation
|
2-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
310%
Participation
|
1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.25%
Cap
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.75%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
40%
Participation
|
1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
175%
Participation
|
2-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Biennial
|
230%
Participation
|
1-Year S&P 500 LV DRC 5% PTP Spread |
Point to Point
Annual
|
4%
Spread
|
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Annual
|
185%
Participation
|
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Biennial
|
250%
Participation
|
2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
310%
Participation
|
1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
220%
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% |