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MNL Capital Income

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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
Fixed Index
Purpose Lifetime Income
7 Years
Surrender schedule
Free withdrawal
Market value adjustment
Return of premium
Launch date
Minimum contribution
Maximum contribution
Max Age Qualified
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, 1035 Exchange, and TSP
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Premium Notes

Note: if eligible you may roll over TSP to us to be administered as a qualified tax status that we offer.

Withdrawal Provisions

Penalty-free withdrawals
Beginning first contract year, up to 10% of the beginning of year accumulation value may be taken each year. Surrender charges and market value adjustments on any portion of an IRS required minimum distribution exceeding the available penalty-free withdrawal amount will be waived by current company practice.

Market value adjustment (MVA)
Your contract also includes an MVA feature, which may decrease or increase your surrender value depending on the change in the market value adjustment external index rate since your annuity purchase. Due to the mechanics of an MVA, surrender values decrease as the MVA external index rate rises. When the MVA external index rate decreases, the surrender value increases. However, the MVA is limited to the surrender charge or the interest credited to the accumulation value.

Annuitization options
You can choose to receive annuity payments based on your choice of several annuity options. Once you select an annuitization option, it cannot be changed, and all other rights and benefits under the annuity ends. The payment amount and number of payments will be based on your annuity’s surrender value and the annuitization option you choose. See the product disclosure for annuity options available.

Death benefit
Your beneficiary will receive the greater of the accumulation value or the minimum surrender value. Amounts allocated to an index account will receive partial interest credits from the beginning of the index term to the date of death. 

Allocation Accounts

Name Type Rates
7-Year Fixed Account
4% Fixed
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
170% Participation
1-Year S&P 500 PTP Participation Rate with Spread
Point to Point
50% Participation
2% Spread
1-Year S&P 500 PTP Cap
Point to Point
7.5% Cap

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 6% 6% 5% 4% 3% 3% 2%


Name Inbuilt Fee
Capital Income GLWB Level Yes 1.00% annually
Capital Income GLWB Increasing Yes 1.00% annually


Nursing Home

Unavailable in states: SD

After your first contract year, if you become confined to a qualified nursing care facility for 90 consecutive days, you can withdraw 100% of your accumulation value without a surrender charge and without application of an MVA. You cannot be confined at the time your contract is issued. This rider is automatically included with your annuity at no additional charge. If joint annuitants are named on the annuity, waiver will apply to the first annuitant who qualifies for the benefit, but not both. The nursing home waiver does not include home health care.


Unavailable in states: CA

Can double LPA for up to five years if unable to perform two out of six activities of daily living (ADLs) for more than 90 consecutive days. Multiplier factor is 200% for single payout. Factor will be lower for joint payout. At issue: 1. You must be able to perform all six ADLs on the issue date. 2. There is a three-year waiting period from contract issue, and cannot be elected until three months following your lifetime payment election date (LPED).

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