|Can be a good fit for someone who||
Is looking to generate income for more flexibility later in retirement
|Type of money||
Non-qualified, Traditional IRAs, Roth IRAs, SEP-IRAs
|Minimum additional contributions||
$1,000; additional premiums are only allowed during the first contract year.
100% of accumulation value
Freedom to choose any combination from the investment options below as long as the equity allocation is from 60% to 80%.Equity
|Required automatic asset rebalancing||
Automatic quarterly rebalancing is required and based on the most recent asset allocation instructions.
Standard account annual expenses2
|Guaranteed lifetime withdrawal benefit (GLWB) feature
The first partial withdrawal initiated, including RMDs, will set the lifetime payment percentage and terminate the GLWB roll-up period.
Annual GLWB charge: 1.45%, divided by 4, of GLWB value assessed on a contract quarterly basis. This charge will not increase for existing contract holders by current company practice.4
|Freedom DateSM 5||
Upon reaching the Freedom Date and the accumulation value is greater than zero:
The Freedom Date is determined based on age at issue. For issue ages 60 or older, the Freedom Date applies after the 20th contract anniversary. For issue ages less than 60, the Freedom Date applies after the 25th contract anniversary.6
|Penalty-free withdrawal amount7||
Greater of: 10% of premium (less withdrawals) or any partial withdrawal taken as part of the GLWB feature or required minimum distributions (RMDs)
The LiveWell® Freedom Variable Annuity features some of the country’s premier money managers:
Variable Annuities are designed for long-term investing, such as retirement investing and are subject to market risk including loss of principal.
Investing in variable annuities involves risk, including potential loss of investment. You and your client should consider the investment objectives, risks, charges, and expenses of the variable annuity and its underlying investment options carefully before investing. The prospectus and/or summary prospectus contain this and other information. You or your client can call 866-747-3421 to obtain a current prospectus for the variable annuity and its underlying investment options. Please read it carefully.
Securities distributed by Sammons Financial Network® LLC, member FINRA. Insurance products are issued by Midland National® Life Insurance Company (West Des Moines, IA). 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® Freedom Variable Annuity.
NOT FDIC/NCUA INSURED, MAY LOSE VALUE INCLUDING LOSS OF PRINCIPAL, NO BANK/CU GUARANTEE, NOT A DEPOSIT, NOT INSURED BY ANY FEDERAL AGENCY.
FOR INSTITUTIONAL USE ONLY. NOT INTENDED FOR CONSUMER SOLICITATION PURPOSES.