MNL Income Planning Annuity
Highlights
Type
|
Fixed Index |
---|---|
Purpose | Lifetime Income |
Term
|
10 Years |
Surrender schedule
|
10%10%10%10%10%9%8%6%4%2% |
Free withdrawal
|
5% |
Market value adjustment
|
|
Return of premium
|
|
Launch date
|
05/07/2019 |
Minimum contribution
|
$20,000 |
Maximum contribution
|
$1,000,000 |
Max Age Qualified
|
79 |
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and TSP |
Brochure
|
Open brochure |
Find out if the MNL Income Planning Annuity is the right product for you.
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
Beginning first contract year, up to 5% of the initial premium may be taken each year.
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
2.5%
Fixed
|
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Biennial
|
160%
Participation
|
1-Year Fidelity Multifactor Yield 5% ER PTP Spread |
Point to Point
Annual
|
|
1-Year S&P 500 LV DRC 5% TR PTP Cap |
Point to Point
Annual
|
5%
Cap
|
1-Year S&P 500 LV DRC 5% TR PTP Spread |
Point to Point
Annual
|
2%
Spread
|
2-Year S&P 500 LV DRC 8% TR PTP Spread |
Point to Point
Biennial
|
3.5%
Spread
|
1-Year S&P 500 PTP Daily Average Spread |
Point to Point
Annual
Daily average
|
5%
Spread
|
1-Year S&P 500 PTP Monthly Average Cap |
Point to Point
Annual
Monthly average
|
2%
Cap
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
5%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
25%
Participation
|
1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
100%
Participation
|
2-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Biennial
|
150%
Participation
|
1-Year Nasdaq-100 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.1%
Cap
|
1-Year S&P 500 Inverse Performance Triggered |
Inverse Perf Triggered
Annual
|
6%
Performance triggered
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
---|---|---|---|---|---|---|---|---|---|---|
Penalty | 10% | 10% | 10% | 10% | 10% | 9% | 8% | 6% | 4% | 2% |
Riders
Name | Inbuilt | Fee |
---|---|---|
MNL Income Planning Rider | Yes | 1.25% annually |
Waivers
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.
ADL
Unavailable in states: CA
LPA multiplier can double LPA for up to five years if unable to perform two of six activities of daily living (ADLs)
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