Best Guaranteed Annuity Rates

Summit Navigate 5

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Learn how an annuity can provide guaranteed income for life.


The Summit Navigate Fixed Index Annuity may be a good fit if you want: 
  • Growth potential through both annual and term credits
  • Protection against losses during stock market downturns 
  • Tax deferral, you pay no taxes until a withdrawal is taken
  • Stability, provided by A+ (Superior) rated Midland NationalĀ® Life Insurance Company
  • Provide a legacy for loved ones or a favorite cause 
Annuity payout options
In all states but Florida: With the exception of lifetime income options, income options are available from five to 20 years. Choose from:
  • Income for a specified period 
  • Life income 
  • Income for a specified amount 
  • Joint and survivor life income 
  • Life income with a period certain 
  • Joint and survivor life income with a period certain. 
For Florida: You may select an annuity payout option based on the accumulation value at any time after the first contract year. The following options are available: 
  • Life income 
  • Life income with a 10-year or 20-year period certain 
  • Joint and survivor life income 
  • Joint and survivor life income with a 10-year or 20-year period certain 
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
Fixed Index
Purpose Accumulation
5 Years
Surrender schedule
Free withdrawal
1st year: 0%
2nd+ year: 10%
Market value adjustment
Return of premium
Launch date
Minimum contribution
Maximum contribution
Max Age Qualified
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, 1035 Exchange, Inherited IRA, NQ Stretch, and TSP
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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
Beginning in the second contract year, up to 10% of the beginning-of-year accumulation value may be taken each year. Surrender charges and market value adjustments on any portion of the IRS-required minimum distributions (RMDs) exceeding the available penalty-free withdrawal amount will be waived by current company practice.

Market value adjustment (MVA)
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 penalty-free withdrawals, RMDs, the death benefit, or withdrawals after the surrender charge period. 

Allocation Accounts

Name Type Rates
5-Year Fidelity Multi Factor Yield 5% (ER) PTP Participation Rate with Annual Performance Credits
Term Participation & Annual Performance
100% Participation
7.5% Performance triggered
5-Year BlackRock ESG US 5% ER PTP Participation Rate with Annual Performance Credits
Term Participation & Annual Performance
100% Participation
7.3% Performance triggered
5-Year Fixed Account
4.85% Fixed

Surrender schedule

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


No Riders for Summit Navigate 5 annuity.


Nursing Home

Unavailable in states: SD

After your first contract year, if you become confined to a qualified nursing care facility for 90 consecutive days, you can withdraw 100% of your accumulation value without a surrender charge and without application of an MVA. You cannot be confined at the time your contract is issued. This feature is automatically included with your annuity at no additional charge. The nursing home waiver does not include home health care.

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