MNL IncomeVantage Pro
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Highlights
This single-premium, fixed index annuity with a built-in withdrawal benefit rider* is designed to provide you flexibility in retirement planning with a variety of benefits.
* Rider is included for no annual charge.
* Rider is included for no annual charge.
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 |
|---|---|
| Purpose | Lifetime Income |
|
Term
|
10 Years |
|
Surrender schedule
|
10%10%10%10%10%9%8%6%4%2% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 5% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
02/25/2020 |
|
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 IncomeVantage Pro 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
Penalty-free withdrawals
Like most annuities, you’ll be limited on when and how much you can withdraw from your annuity penalty-free. However, MNL IncomeVantage Pro allows you to access a portion of funds each year. After the first contract anniversary, you may choose to take a penalty-free withdrawal (also known as a penalty-free partial surrender) of up to 5% of the beginning of the year accumulation value each year.
Taking out more money than what’s available penalty-free will incur a surrender charge. A market value adjustment may also apply.
Withdrawals may be treated by the government as ordinary income. If taken before age 59 1/2, you may also have to pay a 10% IRS penalty. Withdrawals will reduce your accumulation value accordingly.
By current company practice*, we’ll waive surrender charges and market value adjustments on any portion of an IRSrequired minimum distribution that goes beyond what’s available to you penalty-free.
* A feature offered “by current company practice” is not a contractual guarantee of this annuity contract and can be removed or changed at any time.
Like most annuities, you’ll be limited on when and how much you can withdraw from your annuity penalty-free. However, MNL IncomeVantage Pro allows you to access a portion of funds each year. After the first contract anniversary, you may choose to take a penalty-free withdrawal (also known as a penalty-free partial surrender) of up to 5% of the beginning of the year accumulation value each year.
Taking out more money than what’s available penalty-free will incur a surrender charge. A market value adjustment may also apply.
Withdrawals may be treated by the government as ordinary income. If taken before age 59 1/2, you may also have to pay a 10% IRS penalty. Withdrawals will reduce your accumulation value accordingly.
By current company practice*, we’ll waive surrender charges and market value adjustments on any portion of an IRSrequired minimum distribution that goes beyond what’s available to you penalty-free.
* A feature offered “by current company practice” is not a contractual guarantee of this annuity contract and can be removed or changed at any time.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.45%
Fixed
|
| 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
|
7%
Cap
|
| 1-Year S&P 500 LV DRC 5% TR PTP Spread |
Point to Point
Annual
|
3.75%
Spread
|
| 2-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Biennial
|
200%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
140%
Participation
|
| 2-Year Fidelity Multi Factor Yield 5% ER PTP Participation Rate |
Point to Point
Biennial
|
210%
Participation
|
| 1-Year Fidelity Multi Factor Yield 5% ER PTP Spread |
Point to Point
Annual
|
|
| 1-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
190%
Participation
|
| 1-Year S&P MARC 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
190%
Participation
|
| 2-Year S&P MARC 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
270%
Participation
|
| 2-Year Fidelity Multi Factor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
300%
Participation
|
| 1-Year BlackRock ESG US 5% ER PTP Spread |
Point to Point
Annual
|
|
| 2-Year S&P 500 LV DRC 8% TR PTP Spread |
Point to Point
Biennial
|
3.75%
Spread
|
| 2-Year BlackRock ESG US 5% ER PTP Participation Rate |
Point to Point
Biennial
|
210%
Participation
|
| 1-Year S&P 500 Inverse Performance Triggered |
Inverse Perf Triggered
Annual
|
8.5%
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 |
|---|---|---|
| IncomeVantage Pro WBR | Yes | |
| IncomeVantage Pro Increasing WBR | Yes | |
| IncomeVantage Pro WBR (CA) | Yes | |
| IncomeVantage Pro Increasing WBR(CA) | Yes |
Waivers
Nursing Home
Unavailable in states: MA, and SD
After the first contract anniversary, if the annuitant becomes confined to a qualified nursing home facility for at least 90 consecutive days, up to 100% of the accumulation value each year while the annuitant is confined is available. This waiver 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. The nursing home waiver does not include home health care.
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