MNL IndexBuilder 10 Low Band (State Variation)

Premium Notes

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 withdrawalsLike 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.