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| Can be a good fit for someone who |
Has maximized their 401(k), 403(b), and government 457 plans and other pre-tax investment options and is looking for another investment option for possible tax-deferred growth |
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| Investment options |
More than 135 investment options1 led by 25+ of the nation's most respected money managers. LiveWell® Models Powered by Morningstar Investment Management LLC. |
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| Freedom for clients to change their minds |
No charge for reallocating or rebalancing. Transfers are subject to the excessive trading policy.2 |
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| Type of assets accepted |
Non-qualified, Traditional IRAs, Roth IRAs, SEP-IRAs, Inherited IRAs |
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| Issue age |
0-90 |
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| Minimum investment |
$10,000 |
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| Minimum additional contributions |
$1,000 or $100 for contributions made through monthly electronic funds transfer (EFT) |
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| Death benefit |
Greater of accumulation value or return of premium3 |
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| Other features available (One option may be elected) |
Dollar cost averaging (DCA)4 OR automatic rebalancing. Select quarterly, semi-annual, or annual mode. Monthly mode is also available for DCA. |
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| Standard account annual expenses5 |
1.35% |
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| Maintenance fee |
$10 per quarter for policies less than $50,0006 |
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| Surrender charges |
0% |
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| Free withdrawal amount |
100% |
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LiveWell® Variable Annuity with LiveWell® 5 Value Endorsement
| Issue age (endorsement) |
0-85 |
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| Standard account annual expenses |
1.25% |
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| Surrender charges |
Years since each premium payment7
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| Free withdrawal amount8 |
10% of remaining premium that is less than 5 years old or required minimum distributions (RMD), if greater |
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LiveWell® Variable Annuity with LiveWell® 6 Value Endorsement
| Issue age (endorsement) |
0-85 |
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| Standard account annual expenses |
1.20% |
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| Surrender charges |
Years since each premium payment7
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| Free withdrawal amount8 |
10% of remaining premium that is less than 6 years old or RMD, if greater |
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LiveWell® Variable Annuity with LiveWell® 7 Value Endorsement
| Issue age (endorsement) |
0-85 |
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| Standard account annual expenses |
1.15% |
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| Surrender charges |
Years since each premium payment7
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| Free withdrawal amount8 |
10% of remaining premium that is less than 7 years old or RMD, if greater |
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Number of investment options and associated fees are as of 8/1/2019. Standard variable annuity investment option fees, ranging from 0.64%-2.02% net, also apply.
1 The LiveWell® Value Endorsement must be elected at issue. All separate account investment options are subject to market risk.
2 Excessive trading policy; more than one "round trip" involving the same investment option within a 60-calendar-day period is considered excessive trading. Please see the LiveWell® Variable Annuity prospectus for complete details. We reserve the right to charge $15 per transfer in excess of 15 per contract year.
3 The death benefit is based on the greater of net premium (total premiums received reduced on a pro-rata basis for partial withdrawals) or the accumulation value which is equal to the sum of the amounts in the investment options. The death benefit amount may be reduced for withdrawals and premium taxes at death as required by state law. A contract must be in force to garner a return of premium death benefit. Please see the prospectus for details and state-specific information.
4 Dollar cost averaging does not ensure a profit or protect against loss in a declining market. Such a plan involves continuous investment in securities, regardless of fluctuating price levels of such securities. Investors should consider their financial ability to continue purchases through periods of low price levels.
5 Separate account annual expenses include mortality and expense (M&E) and asset based administration charges.
6 For policies less than $50,000, the current quarterly maintenance fee is $10 per quarter. The guaranteed maximum maintenance fee is $15 per quarter.
7 Surrender charges are based on amounts withdrawn in excess of the free withdrawal amount and are based on the number of years since each premium payment.
8 The free withdrawal amount is available for withdrawal without a surrender charge. The amount is calculated at the beginning of each policy year. It is noncumulative. Remaining premium is the sum of the premium deposits made less the partial withdrawal taken.
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The LiveWell® Variable Annuity features some of the country's premier money managers:
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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 may visit srslivewell.com/prospectus or 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. 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® Variable 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.