MNL Capital Income
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Highlights
The Midland National Capital Income is a single premium deferred fixed index annuity. This annuity provides an accumulation value that may earn interest through a fixed account and various index accounts (if selected). While the fixed account earns a fixed rate of interest each year, index accounts earn interest credits based on how an underlying index performs. Interest credits are guaranteed to never be less than zero. This annuity also provides several options for accessing funds.
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
|
7 Years |
Surrender schedule
|
6%6%5%4%3%3%2% |
Free withdrawal
|
10% |
Market value adjustment
|
|
Return of premium
|
|
Minimum contribution
|
$20,000 |
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, 1035 Exchange, and TSP |
Brochure
|
Open brochure |
Allocation Accounts
Name | Type | Rates |
---|---|---|
7-Year Fixed Account |
Fixed
|
4%
Fixed
|
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Annual
|
170%
Participation
|
1-Year S&P 500 PTP Participation Rate with Spread |
Point to Point
Annual
|
50%
Participation
2%
Spread
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.5%
Cap
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
---|---|---|---|---|---|---|---|
Penalty | 6% | 6% | 5% | 4% | 3% | 3% | 2% |
Riders
Name | Inbuilt | Fee |
---|---|---|
Capital Income GLWB Level | Yes | 1.00% annually |
Capital Income GLWB Increasing | Yes | 1.00% annually |