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Annuity Type Flexible premium deferred fixed index annuity
Issue Age Age 0-85; Maximum Maturity Age: 115
Type of Money Non-Qualified, Traditional IRAs, Roth IRAs, SEP-IRAs, and Inherited IRAs
Minimum Premium $10,000 Initial Premium ($1,000 additional)
Maximum Premium Contribution $2 million (without prior approval)
Three Accounts Available
  • Fixed Account
  • S&P 500® Index Account (Annual Point-to-Point Crediting Method with Index Cap Rate)
  • S&P 500® Low Volatility Daily Risk Control 5% Index (Annual Point-to-Point Crediting Method with Index Margin)
Surrender Charge
Applied during Surrender Charge Period on portion of withdrawal that exceeds penalty-free amount. Based on issue date; may vary by state.
Contract Year 1 2 3 4 5 6 7 8 9+
Surrender Charge 8% 8% 8% 7% 6% 5% 4% 3% 0%
Penalty-Free Withdrawals Up to 10% of Accumulation Value starting in year 2. This amount is not cumulative nor available in the first year.
Only RMDs are available penalty-free in the first contract year by current company practice. 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.
Market Value Adjustment (MVA)
Note: The MVA is not available in AK, MN, MO, NJ, OR, PA, UT, VA, and WA.
May decrease or increase Surrender Value depending on the change in interest rates since annuity purchase. With an MVA, Surrender Value generally decreases as interest rates rise and generally increases when interest rates decrease over time. The MVA is applied only during the Surrender Charge Period to surrenders exceeding the applicable penalty-free amount.
Please refer to the Understanding the Market Value Adjustment brochure for further details.
Surrender Value Amount available at time of surrender. Equal to the Accumulation Value, subject to Market Value Adjustment, less applicable surrender charges and state Premium Taxes. A surrender during the Surrender Charge Period could result in a loss of premium.
The Surrender Value will never be less than the minimum requirements set forth by state laws at the time of issue in the state where the Contract is delivered. In Indiana, the Surrender Value will never be less than 87.5% of the premium, less any surrenders (after any Market Value Adjustment or surrender charges), accumulated at 1%.
Interest Rate Bands Band 1: < $100,000 Band 2: $100,000 to $249,999 Band 3: >= $250,000
Declared for both fixed and index accounts.
Based on Accumulation Value each Contract Anniversary for both fixed and index crediting account options.
Index Caps/Rates Click here for current caps and interest rates.
LiveWell® Legacy Protector and LiveWell® Income for Life cannot be elected together and availability may vary by state.

Optional riders are not allowed on inherited IRAs.
LiveWell Income for Life Rider
Guaranteed Lifetime Withdrawal Benefit (GLWB)
  • 6% simple interest roll-up to 200% of premium
  • Available at issue ages 45-80
  • Annual charge of 0.85% of the GLWB Value
LiveWell Legacy Protector
Guaranteed Minimum Death Benefit (GMDB)
  • 5% simple interest roll-up to 200% of premium or age 85
  • Available as a lump sum to beneficiaries
  • Restricted beneficiaries available
  • Non-qualified stretch available
  • Annual cost of 0.35% of the GMDB Amount
Nursing Home Confinement Waiver1
Not available in all states.

The Nursing Home Confinement Waiver is included at no additional charge.

In CT, known as Free Withdrawal Nursing Home Rider. In states where waiver is approved. Please contact your financial professional for state availability. If joint covered persons are named on the annuity, waiver will apply to the first covered person who qualifies for the benefit.

1 In states where waiver is approved. If joint covered persons are named on the annuity, waiver will apply to the first covered person who qualifies for the benefit. In year 2 and beyond, if a covered person is confined to a qualified nursing home facility for at least 90 consecutive days, they can withdraw up to 100% of the Accumulation Value penalty free while confined. NOTICE: THIS RIDER IS NOT INTENDED TO PROVIDE LONG-TERM CARE OR NURSING HOME INSURANCE.

This summary should be accompanied by the product disclosure that provides more details around the contract, product features, riders, costs, and other important considerations regarding this annuity contract.

Premium taxes: Accumulation Value will be reduced for premium taxes as required by the state of residence.

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Fixed Index Annuities are not a direct investment in the stock market. They are long-term insurance products with guarantees backed by the issuing company. They provide the potential for interest to be credited based in part on the performance of specific indices, without the risk of loss of premium due to market downturns or fluctuation. Although Fixed Index Annuities guarantee no loss of premium due to market downturns, deductions from your clients' Accumulation Value for additional optional benefit riders could under certain scenarios exceed interest credited to their Accumulation Value, which would result in loss of premium. They are complex insurance products and may not be appropriate for all clients. Please see the contract for features and limitations that may impact income.

Securities distributed by Sammons Financial Network®, LLC., member FINRA. Sammons Institutional GroupSM, Inc. provides administrative services. Sammons Financial Network®, LLC., Midland National® Life Insurance Company, and Sammons Institutional GroupSM, Inc., are wholly owned subsidiaries of Sammons® Financial Group, Inc. Sammons Retirement Solutions® and Midland Retirement Distributors® are divisions of Sammons Institutional GroupSM, Inc.

Please view these important product-specific disclosures for the LiveWell® Fixed Index Annuity.