Midland National Life Insurance Company
4.5
based on complex data
Annuity Educator Rating
Annuity review

MNL IndexBuilder 10 High Band (Most States)

The MNL IndexBuilder 10 High Band is a fantastic annuity product for retirees looking for reliable income. This product not only secures your financial future but it also understands the need for flexibility, catering to your changing needs.

The standout benefit is the potential for higher interest rates. With growth linked to a market index, you can capitalize on market upturns without the risk of direct market participation. It's like having your cake and eating it too!

MNL IndexBuilder 10 High Band (Most States)-brochure MNL IndexBuilder 10 High Band (Most States)-brochure

MNL IndexBuilder 10 High Band (Most States)

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About Product

Type
Fixed Index
Purpose
Accumulation
Premium Bonus
13%
Term
10 Years
Surrender schedule
10%
10%
9%
9%
8%
8%
7%
6%
4%
2%
Fee withdrawal:
10%
Flexible premium
Product Life
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$75,000
Maximum Contribution
$2,000,000
Max Age Qualified
79
Types Of Funds
Non-Qualified, 401k, IRA, Spousal IRA, IRA Rollover, 401a, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, and TSP
Launch Date
09/01/2015
The MNL IndexBuilder 10 is a flexible premium, fixed index annuity that offers you growth potential for your retirement assets but also protection from losses due to downside market fluctuations.
Available in states: AL, AZ, AR, CO, DC, FL, GA, IL, IA, KS, KY, LA, ME, MA, MI, MS, NE, NH, NM, NC, ND, RI, SD, TN, VT, WV, WI, and WY

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
115% Participation
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
110% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
75% Participation
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
1.3% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
6% Cap
1-Year S&P MARC 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
120% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
120% Participation
1-Year S&P 500 Inverse Performance Triggered
Inverse Perf Triggered
Annual
5.5% Performance triggered
1-Year Nasdaq-100 Volatility Control 12% PTP Enhanced Participation Rate
Point to Point
Annual
50% Participation
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
20% Participation
1-Year S&P 500 Dynamic Intraday TCA PTP Participation Rate
Point to Point
Annual
30% Participation
1-Year Nasdaq-100 Volatility Control 12% PTP Participation Rate
Point to Point
Annual
35% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Annual
80% Participation
2-Year S&P 500 PTP Participation Rate
Point to Point
Biennial
30% Participation
2-Year S&P 500 Dynamic Intraday TCA PTP Participation Rate
Point to Point
Biennial
40% Participation
2-Year Nasdaq-100 Volatility Control 12% PTP Participation Rate
Point to Point
Biennial
50% Participation
1-Year S&P 500 Dynamic Intraday TCA PTP Enhanced Participation Rate
Point to Point
Annual
40% Participation

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 10% 10% 9% 9% 8% 8% 7% 6% 4% 2%

Hypothetical Projection

Comparison against S&P 500 using current rates
indexed chart
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Riders

No Riders for MNL IndexBuilder 10 High Band (Most States) annuity.

Waivers

Nursing Home

Unavailable in states: CA, and MA

After the first contract anniversary, if you are confined to a qualified nursing care center as defined in the rider (skilled nursing facility or residential care facility for the elderly in CA), you may withdraw up to 100% of your accumulation value without a surrender charge, MVA, or premium bonus recapture as long as you meet the eligibility requirements for this rider. If you withdraw 100% of your accumulation value, your contract and any applicable riders will terminate. This rider is automatically included with your annuity at no additional charge. Refer to the rider for additional details, including benefit terms, conditions, and limitations.

Withdrawal Provisions

Market Value AdjustmentYour Contract also includes a market value adjustment feature—which may decrease or increase your surrender value depending on the change in the index value of the market value adjustment external index since your annuity purchase. Due to the mechanics of a market value adjustment, surrender values generally decrease as the market value adjustment external index rises or remains constant. When the market value adjustment external index decreases enough over time, the surrender value generally increases. However, the market value adjustment is limited to the interest credited to the accumulation value. Penalty-free withdrawals Like most annuities, you’ll be limited in when and how much you can withdraw from your annuity penalty-free. After the first contract anniversary, a penalty-free withdrawal (also known as a penalty-free partial surrender), of up to 10% of the accumulation value may be taken each year. After the surrender charge period, surrender charges, premium bonus recapture and a market value adjustment no longer apply to any withdrawals. 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, premium bonus recapture, and market value adjustments on any portion of an IRS-required 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. 

Company Founded: 1906
TOP Rated Company
Midland National Life Insurance Company
Company Ratings
4.2
  • A.M. Best A+
  • Fitch A+
  • S&P A+
  • Comdex 89
Assets: $71,575,926,183
Iowa

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