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Annuity Type Flexible premium deferred fixed index annuity
Issue Age Age 0-85
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
Surrender Charge
Surrender charge structure 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 Withdrawal Amount Up to 10% of Accumulation Value – or Required Minimum Distributions (RMDs) if greater – starting in year 2. This amount is not cumulative nor available in the first year, including RMDs.
Market Value Adjustment (MVA)
MVA may be negative or positive and is not applicable in all states
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.
(Click here and select your state to get more information in the "Understanding MVA" brochure.)
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 Based on your client's Accumulation Value on each Contract Anniversary
Band 1: < $100,000 Band 2: $100,000 to $249,999 Band 3: >= $250,000
Declared for both fixed and index accounts.
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)
  • 7.5% simple interest roll-up to 200% of premium
  • Available at issue ages 45-80
  • Annual charge of 0.85% of the GLWB Value

How much do your clients need today for a predictable tomorrow? Calculate now!
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

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.

Standard Death Benefit

Upon death of the Owner, Midland National® will pay the Accumulation Value as the standard death benefit.

If there are joint Owners, the death benefit is paid upon death of the first Owner.

The standard death benefit will never be less than the minimum Surrender Value set forth by your state.

No surrender charges or Market Value Adjustments are applied at death. See Contract for details.

Spousal Continuance: If the Owner dies and the sole Beneficiary is the deceased Owner's spouse, the Beneficiary may elect to continue this Contract as the new Owner.

Annuity Payout Options

Should your client decide to receive an income from their annuity after the Surrender Charge Period, they will have several annuity payment options from which to choose, including: income for a specified period, income for a specified amount, life income with a period certain, life income, and joint and survivor life income.

Annuity payout options are a benefit of deferred annuities, but not a requirement with the LiveWell® Fixed Index Annuity.

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.

Please click here to view important product-specific disclosures for the LiveWell® Fixed Index Annuity.