|Type of Annuity||Single premium Multi-Year Guaranteed Annuity|
|Issue Age||0-90; Maximum maturity age: 115|
|Type of Money||Non-qualified, Traditional IRAs, Roth IRAs, SEP-IRAs, and Inherited IRAs|
|Minimum Premium Amount||$25,000|
|Interest Rate Guarantee Periods||Choice of 3, 5, 7, or 10 year guarantee periods.
Certain guarantee periods may not be available. Please confirm availability with your broker/dealer or contact the Sammons Retirement Solutions Sales Desk at 855-624-0201. In CA, DE, and FL, guarantee periods 7 and 10 are not available.
|Interest Rate Bands||Please click here for current rates.
Interest is credited and compounded daily. Your client's interest rate is dependent upon the single premium payment amount and is locked in for the duration of the initial guarantee period selected.
Band #1: $25,000 to $99,999.99
Band #2: $100,000 to $249,999.99
Band #3: $250,000+
|Penalty-Free Partial Surrender Amount||
|Surrender Charge Schedule
The surrender charge is assessed on any amount withdrawn, either as a partial or full surrender, that exceeds the penalty-free partial surrender amount applicable and may result in a loss of premium. Surrender charge structure may vary by state.
Surrender charge schedule is based on the length of the current guarantee period and how long you have been in the current guarantee period.
The surrender value is the amount that is available at the time of surrender. The surrender value is equal to the accumulation value, subject to the MVA, less applicable surrender charges and state premium taxes, if applicable. A surrender during the surrender charge period could result in loss of premium. The surrender value will never be less than the minimum requirements set forth by the state laws at the time of issue in the state where the contract is delivered.
|Market Value Adjustment (MVA)||May decrease or increase surrender value depending on the change in the MVA index value of the MVA external index since annuity purchase. With an MVA, surrender values generally decrease when the MVA external index rises and generally increase when the MVA external index decreases over time. The MVA is applied during the initial guarantee period and each subsequent guarantee period to surrenders exceeding the applicable penalty-free amount.
For more details, see the Understanding the Market Value Adjustment brochure.
|Death Benefit||No surrender charges nor MVA are applied at death. See contract for details.|
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 click here to view important product-specific disclosures for the LiveWell® Guarantee Annuity.
NOT FDIC/NCUA INSURED, MAY LOSE VALUE, NOT A DEPOSIT OF A BANK, NOT BANK/CU GUARANTEED, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY.
FOR INSTITUTIONAL USE ONLY. NOT INTENDED FOR CONSUMER SOLICITATION PURPOSES.