Summit Navigate 5
In the complex world of retirement planning, annuities stand out as a popular choice for those seeking steady income streams in their golden years. Amidst a crowded market, a few annuity companies have distinguished themselves through their robust financial strength, customer service excellence, and diverse product offerings.
Get an annuity today!
Learn how an annuity can provide guaranteed income for life.
The Summit Navigate Fixed Index Annuity may be a good fit if you want:
- Growth potential through both annual and term credits
- Protection against losses during stock market downturns
- Tax deferral, you pay no taxes until a withdrawal is taken
- Stability, provided by A+ (Superior) rated Midland National® Life Insurance Company
- Provide a legacy for loved ones or a favorite cause
Annuity payout options
In all states but Florida: With the exception of lifetime income options, income options are available from five to 20 years. Choose from:
In all states but Florida: With the exception of lifetime income options, income options are available from five to 20 years. Choose from:
- Income for a specified period
- Life income
- Income for a specified amount
- Joint and survivor life income
- Life income with a period certain
- Joint and survivor life income with a period certain.
For Florida: You may select an annuity payout option based on the accumulation value at any time after the first contract year. The following options are available:
- Life income
- Life income with a 10-year or 20-year period certain
- Joint and survivor life income
- Joint and survivor life income with a 10-year or 20-year period certain
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 |
|---|---|---|
| 5-Year Fidelity Multi Factor Yield 5% (ER) PTP Participation Rate with Annual Performance Credits |
Term Participation & Annual Performance
5-Year
|
100%
Participation
7.5%
Performance triggered
|
| 5-Year BlackRock ESG US 5% ER PTP Participation Rate with Annual Performance Credits |
Term Participation & Annual Performance
5-Year
|
100%
Participation
7.3%
Performance triggered
|
| 5-Year Fixed Account |
Fixed
|
4.75%
Fixed
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 8% | 8% | 8% | 7% | 6% |