|Annuity Type||Flexible premium deferred fixed index annuity|
|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 structure may vary by state.
|Penalty-Free Withdrawal Amount||Starting in year 2, you may withdraw up to 10% of your Accumulation Value (or Required Minimum Distributions if greater) without a surrender charge. The Penalty-Free Partial Surrender Amount is not cumulative.|
|Surrender Value||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 Market Value Adjustment, less surrender charges, if any, and any applicable 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 the state laws at the time of issue in the state where the Contract is delivered.|
|Market Value Adjustment (MVA)
MVA may be negative or positive and is not applicable in all states
|This Contract includes a Market Value Adjustment (MVA) feature which may decrease or increase your Surrender Value depending on the change in interest rates since your annuity purchase. With an MVA, the Surrender Values generally decrease as interest rates rise, and generally increase when interest rates decrease over time. The MVA either negative or positive, will be limited to the Accumulation Value less any applicable Surrender Charges; less the minimum required by the laws of the state in which the Contract is delivered (see Contract details). The MVA only applies 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.|
|Interest Rate Bands||Your 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.
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)
|LiveWell Legacy Protector
Guaranteed Minimum Death Benefit (GMDB)
|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 you decide to receive an income from your annuity after the Surrender Charge Period, you 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.
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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 Accumulation Value for additional optional benefit riders could under certain scenarios exceed interest credited to your Accumulation Value, which would result in loss of premium. They may not be appropriate for all.
GLWB Roll-Up Percentage is not applied to the Accumulation Value, only to the GLWB Value. The GLWB value is not available for withdrawal, surrender or as a death benefit. There is no GLWB Roll-Up when lifetime income payments have been elected.
GMDB Roll-Up Percentage is not applied to the Accumulation Value, only to the GMDB Amount, which is used to determine the death benefit amount. The GMDB Amount is not available for withdrawal or surrender.
Please click here to view important product-specific disclosures for the LiveWell® Fixed Index Annuity.
NOT FDIC/NCUA INSURED, MAY LOSE VALUE, NO BANK/CU GUARANTEE, NOT A DEPOSIT, NOT INSURED BY ANY FEDERAL AGENCY