MNL RetireVantage 14
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Highlights
The MNL RetireVantage 14 flexible premium fixed index annuity provides a flexible long-term solution that offers a variety of choices and guarantees to fit your ultimate retirement planning goals.
Summary of benefits
Summary of benefits
- Multiple index account options available
- Tax deferral, income for life, and full accumulation value at death
Strategy charge: In exchange for a strategy charge, the client unlocks greater upside potential through an enhanced participation rate. The strategy charge is deducted from the accumulation value at the end of each term and is guaranteed to stay the same for the life of the contract.
Strategy charges are considered a partial surrender and for purposes of the Return of Premium feature will reduce the Net Premium accordingly. The charge will be deducted at the time of full surrender and at the time of a partial withdrawal that exceeds the penalty-free withdrawal amount.
The strategy fee is known as a Strategy Fee Annual Percentage in your contract. The annual charge is multiplied by 2 for the two-year crediting strategy.
Strategy charges are considered a partial surrender and for purposes of the Return of Premium feature will reduce the Net Premium accordingly. The charge will be deducted at the time of full surrender and at the time of a partial withdrawal that exceeds the penalty-free withdrawal amount.
The strategy fee is known as a Strategy Fee Annual Percentage in your contract. The annual charge is multiplied by 2 for the two-year crediting strategy.
Available in states:
AL, AZ, AR, CA, CO, DC, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MA, MI, MS, NE, NM, NC, ND, RI, SD, TN, VT, WV, WI, and WY
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
14 Years |
|
Surrender schedule
|
10%10%10%10%10%9%8%7%6%5%4%3%2%1% |
|
Free withdrawal
|
10% |
| Flexible premium | Product Life |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
11/01/2011 |
|
Minimum contribution
|
$20,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
75 |
|
Types of funds
|
Non-Qualified, 401k, IRA, Spousal IRA, IRA Rollover, 401a, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, NQ Stretch, and TSP |
Brochure
|
Open brochure |
Find out if the MNL RetireVantage 14 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
MNL RetireVantage allows you to access a portion of funds each year without incurring a surrender charge and Market Value Adjustment (MVA). Starting in the first contract year, you may choose to take a penalty-free withdrawal of up to 10% of the accumulation value annually. Withdrawals may be treated by the government as ordinary income. If taken before age 59 1/2, you may be subject to additional IRS penalties for early withdrawal.
Market Value Adjustment (MVA)
Your contract also includes a market value adjustment 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. Market value adjustments are applied only during the surrender charge period to surrenders in excess of the penalty-free amount.
MNL RetireVantage allows you to access a portion of funds each year without incurring a surrender charge and Market Value Adjustment (MVA). Starting in the first contract year, you may choose to take a penalty-free withdrawal of up to 10% of the accumulation value annually. Withdrawals may be treated by the government as ordinary income. If taken before age 59 1/2, you may be subject to additional IRS penalties for early withdrawal.
Market Value Adjustment (MVA)
Your contract also includes a market value adjustment 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. Market value adjustments are applied only during the surrender charge period to surrenders in excess of the penalty-free amount.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.6%
Fixed
|
| 2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
290%
Participation
|
| 2-Year S&P MARC 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
280%
Participation
|
| 1-Year S&P MARC 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
210%
Participation
|
| 1-Year Fidelity Multifactor Yield 5% ER PTP Spread |
Point to Point
Annual
|
|
| 2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Biennial
|
230%
Participation
|
| 2-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Biennial
|
220%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.2%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.25%
Cap
|
| 1-Year S&P 500 LV DRC 5% TR PTP Spread |
Point to Point
Annual
|
3.05%
Spread
|
| 2-Year S&P 500 LV DRC 8% TR PTP Spread |
Point to Point
Biennial
|
3.1%
Spread
|
| 1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
155%
Participation
|
| 1-Year BlackRock ESG US 5% ER PTP Spread |
Point to Point
Annual
|
|
| 2-Year BlackRock ESG US 5% ER PTP Participation Rate |
Point to Point
Biennial
|
220%
Participation
|
| 1-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
210%
Participation
|
| 1-Year S&P 500 Inverse Performace Triggered |
Inverse Perf Triggered
Annual
|
9.25%
Performance triggered
|
| 1-Year Fixed Account |
Fixed
|
3.9%
Fixed
|
| 2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
320%
Participation
|
| 2-Year S&P MARC 5% ER PTP Enhanced Participation Rate |
Point to Point
Biennial
|
310%
Participation
|
| 1-Year S&P MARC 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
230%
Participation
|
| 2-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Biennial
|
245%
Participation
|
| 2-Year S&P 500 LV DRC 8% TR PTP Spread |
Point to Point
Biennial
|
2.25%
Spread
|
| 1-Year S&P 500 LV DRC 5% TR PTP Spread |
Point to Point
Annual
|
2.25%
Spread
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.25%
Cap
|
| 1-Year Fidelity Multifactor Yield 5% ER PTP Spread |
Point to Point
Annual
|
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.5%
Cap
|
| 2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Biennial
|
255%
Participation
|
| 1-Year S&P MARC 5% ER PTP Participation Rate |
Point to Point
Annual
|
180%
Participation
|
| 1-Year BlackRock ESG US 5% ER PTP Spread |
Point to Point
Annual
|
|
| 2-Year BlackRock ESG US 5% ER PTP Participation Rate |
Point to Point
Biennial
|
245%
Participation
|
| 1-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
230%
Participation
|
| 1-Year S&P 500 Inverse Performance Triggered |
Inverse Perf Triggered
Annual
|
10%
Performance triggered
|
| 1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Annual
|
160%
Participation
|
| 1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
215%
Participation
|
| 1-Year Nasdaq-100 Volatility Control 12% PTP Participation Rate |
Point to Point
Annual
|
65%
Participation
|
| 2-Year Nasdaq-100 Volatility Control 12% PTP Participation Rate |
Point to Point
Biennial
|
90%
Participation
|
| 1-Year Nasdaq-100 Volatility Control 12% PTP Enhanced Participation Rate |
Point to Point
Annual
|
85%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
40%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
55%
Participation
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Participation Rate |
Point to Point
Annual
|
60%
Participation
|
| 2-Year S&P 500 Dynamic Intraday TCA PTP Participation Rate |
Point to Point
Biennial
|
80%
Participation
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Enhanced Participation Rate |
Point to Point
Annual
|
75%
Participation
|
| 2-Year S&P 500 PTP Participation Rate |
Point to Point
Biennial
|
60%
Participation
|
| 1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate |
Point to Point
Annual
|
180%
Participation
|
| 1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate |
Point to Point
Annual
|
230%
Participation
|
| 1-Year Nasdaq-100 Volatility Control 12% PTP Participation Rate |
Point to Point
Annual
|
70%
Participation
|
| 2-Year Nasdaq-100 Volatility Control 12% PTP Participation Rate |
Point to Point
Biennial
|
100%
Participation
|
| 1-Year Nasdaq-100 Volatility Control 12% PTP Enhanced Participation Rate |
Point to Point
Annual
|
90%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
45%
Participation
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Participation Rate |
Point to Point
Annual
|
65%
Participation
|
| 2-Year S&P 500 Dynamic Intraday TCA PTP Participation Rate |
Point to Point
Biennial
|
90%
Participation
|
| 1-Year S&P 500 Dynamic Intraday TCA PTP Enhanced Participation Rate |
Point to Point
Annual
|
80%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 10% | 10% | 10% | 10% | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
No Riders for MNL RetireVantage 14 annuity.
Waivers
Nursing Home
Unavailable in states: MA
After the first contract anniversary, should the annuitant become confined to a qualified nursing home facility for at least 90 consecutive days, we will increase the penalty-free withdrawal by 10% of the Accumulation Value each year while the annuitant is confined. This waiver is only available for issue ages 75 and younger and 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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