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Can Be A Good Fit For Someone Who

Is looking to generate income for more flexibility later in retirement

Issue Age

50-75

Type Of Money

Non-Qualified, Traditional IRAs, Roth IRAs, SEP-IRAs

Minimum Investment

$50,000

Minimum Additional Contributions

$1,000; Additional premiums are only allowed during the first contract year.

Death Benefit

100% of Accumulation Value

Asset Allocation1

Freedom to choose any combination from the investment options below as long as the equity allocation is from 60% to 80%.

Bond
  1. BlackRock Total Return V.I. Fund Class III
  2. Janus Henderson Flexible Bond Portfolio Service Shares
  3. MFS VIT II Corporate Bond Portfolio Service Class
  4. PIMCO VIT Total Return Portfolio Advisor Class
  5. Western Asset Variable Core Bond Plus Portfolio Class II

Equity
  1. American Funds IS® Blue Chip Income and Growth Fund Class 4
  2. BlackRock Large Cap Growth V.I. Fund Class III
  3. BlackRock S&P 500® V.I. Fund Class III
  4. Deutsche Equity 500 Index VIP-B
  5. Oppenheimer Main Street Fund/VA Service Class
Required Automatic Asset Rebalancing

Automatic quarterly rebalancing is required and based on the most recent asset allocation instructions.

Fees
Standard Account Annual Expenses2

1.25%

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.

Growth Features3:

  1. Annual guaranteed 2% GLWB roll-up + 75% share of any index gains tied to the S&P 500® Index
  2. Up to 200% of total premium(s) received

Income Features:

  1. Guaranteed withdrawals for life as early as age 50
  2. LiveWell Freedom age bands, based on the attained age at the time of first withdrawal
Age Single % Joint %
75+ 5.00% 4.50%
70-74 4.50% 4.00%
65-69 4.00% 3.50%
60-64 3.50% 3.00%
50-59 3.00% 2.50%

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:

  1. The accumulation value will no longer be reduced for Lifetime Payment Amounts (LPAs).
  2. There is full access to the accumulation value without affecting the LPAs.
  3. The GLWB charge will no longer be assessed.

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

Withdrawal Charges
Years since each premium payment 0 1 2 3 4 5 6 7+
% surrendered in excess of the
Free Withdrawal Amount
8 8 7 6 5 4 3 0
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)

1 There is a requirement of a maximum of 80% equity allocation and a minimum of 60% equity allocation with the remaining allocated in bonds.

2 Separate Account Annual Expenses include Mortality and Expense (M&E) and Administrative Charges. This fee is set for the life of the contract and assessed on a daily basis.

3 The 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. The roll-up is applied until the earliest of the first withdrawal, the maximum GLWB value has been reached, the Freedom DateSM has been achieved or when lifetime income payments have been elected.

4 Purchases made while this practice is in place will not be charged more than 1.45%, divided by 4, of the GLWB value assessed on a contract quarterly basis deducted from the accumulation value for the duration of their contract. Features offered by current company practice are not guaranteed by the contract, and the company reserves the discretion to change its practice at any time.

5 All contract guarantees, including the Freedom DateSM, are based on the claims-paying ability of the issuing insurance company and do not apply to the variable subaccounts.

6 Based on single owner. If joint ownership applies, it is based on the younger owner. If the owner is non-natural, it is based on the age of the annuitant.

7 The Free Withdrawal Amount is available for withdrawal without a surrender charge. The amount is calculated at the beginning of each contract year. For withdrawals occurring in the first contract year, the amount calculated is based on the initial premium received. The annual Free Withdrawal Amount is noncumulative. While you always have access to your money, for withdrawals taken in excess of this amount, a surrender charge will apply. In certain circumstances, partial withdrawals during a contract year in excess of the greater of the lifetime payment amount or the required minimum distribution will negatively impact the lifetime payment amount and the GLWB value. Remaining premium is the sum of the premium payments made less any withdrawals taken.

TO FIND OUT MORE, CONTACT YOUR FINANCIAL PROFESSIONAL TODAY!

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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 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 may contact your financial professional 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. 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 Retirement Solutions® (a division of Sammons Institutional Group) are wholly owned subsidiaries of Sammons® Financial Group, Inc.

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

NOT FDIC/NCUA INSURED, MAY LOSE VALUE, NO BANK/CU GUARANTEE, NOT A DEPOSIT, NOT INSURED BY ANY FEDERAL AGENCY