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Best Guaranteed Annuity Rates
2-Year
5.70%
3-Year
6.25%
5-Year
6.30%
7-Year
6.00%
10-Year
5.80%

Summit Edge 5

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Learn how an annuity can provide guaranteed income for life.

Highlights

The Summit Edge Fixed Index Annuity may be a good fit if you want: 
  • Protection against losses during stock market downturns 
  • Growth potential through multiple index options and crediting methods 
  • Guarantees through the certainty of a fixed rate option 
  • Stability provided by A+ rated Midland National® Life Insurance Company 
  • Tax deferral 
  • Death benefit to help provide a legacy to loved ones or a favorite cause 
  • Access to additional features including: 
    • Penalty-free withdrawals 
    • Nursing home confinement waiver
    • Flexible payout options 
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 Accumulation
Term
5 Years
Surrender schedule
9%8.5%7.5%5.5%4%
Free withdrawal
1st year: 0%
2nd+ year: 10%
Flexible premium Product Life
Market value adjustment
Return of premium
Launch date
06/26/2018
Minimum contribution
Qualified: $5,000
Non-Qualified: $20,000
Maximum contribution
$1,000,000
Max Age Qualified
85
Types of funds
Non-Qualified, IRA, Spousal IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, Inherited IRA, NQ Stretch, and TSP
Brochure
Open brochure

Find out if the Summit Edge 5 is the right product for you.

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Premium Notes

Initial Premium
Minimum Initial Qualified: $5,000
Minimum Initial NQ: $20,000

Additional Premium
Flexible premium is accepted for life of policy with contractual min of $25 and max of $5,000 per year. Additional premium does not extend surrender charge period.

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
Up to 10% of beginning-of-year Accumulation Value — or Required Minimum Distributions (RMDs) if greater by current company practice — starting in year 2. This amount is not cumulative nor available in the first year.

Market Value Adjustment
The MVA is a positive or negative adjustment based on the change in the MVA index value of the MVA external index since the annuity purchase. It does not apply to 10% penalty-free withdrawals, RMDs, the death benefit, or withdrawals after the surrender charge period. 

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
2.85% Fixed
1-Year BlackRock ESG US 5% ER PTP Participation Rate
Point to Point
Annual
165% Participation
2-Year BlackRock ESG US 5% ER PTP Participation Rate
Point to Point
Biennial
215% Participation
1-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
210% Participation
2-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
300% Participation
1-Year S&P 500 LV DRC 5% TR PTP Spread
Point to Point
Annual
5% Spread
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
220% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
165% Participation
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
40% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
8.75% Cap
1-Year S&P 500 PTP Monthly Sum Cap
Point to Point
Annual
Monthly sum
2.05% Cap
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Annual
175% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
235% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
300% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
210% Participation
1-Year S&P 500 Inverse Performance Triggered
Inverse Perf Triggered
Annual
7.5% Performance triggered
1-Year Fixed Account
Fixed
3.1% Fixed
1-Year BlackRock ESG US 5% ER PTP Participation Rate
Point to Point
Annual
175% Participation
2-Year BlackRock ESG US 5% ER PTP Participation Rate
Point to Point
Biennial
230% Participation
1-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
220% Participation
2-Year BlackRock ESG US 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
310% Participation
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
9.75% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
40% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
175% Participation
2-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Biennial
230% Participation
1-Year S&P 500 LV DRC 5% PTP Spread
Point to Point
Annual
4% Spread
1-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Annual
185% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Participation Rate
Point to Point
Biennial
250% Participation
2-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Biennial
310% Participation
1-Year Fidelity Multifactor Yield 5% ER PTP Enhanced Participation Rate
Point to Point
Annual
220% Participation
1-Year S&P 500 Inverse Performance Triggered
Inverse Perf Triggered
Annual
8% Performance triggered

Surrender schedule

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

Riders

No Riders for Summit Edge 5 annuity.

Waivers

Death

Death Benefit Available

Nursing Home

Unavailable in states: MA, and SD

Longevity is an important consideration in any retirement plan. Summit Edge helps provide flexibility with a nursing home confinement waiver, giving you access to 100% of your accumulation value—available penalty-free—for a qualified confinement to a nursing home. The nursing home waiver does not include home health care.

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