|Annuity Type||Flexible premium deferred fixed index annuity|
|Issue Age||For 5- or 7-year Surrender Charge Period: 0-85
For 10-year Surrender Charge Period: 0-79
|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 Options
Applied during Surrender Charge Period on portion of withdrawal that exceeds penalty-free amount.
|Listed below are 3 surrender charge options from which you can choose. See product-specific disclosure for additional information.
Certain Surrender Charge Periods may not be available. Please confirm availability with your financial professional.
|Penalty-Free Withdrawal Amount||Up to 10% of Accumulation Value – or Required Minimum Distributions (RMDs) if greater – starting in year 2. This amount is not cumulative nor available in the first year, including RMDs.|
|Surrender Value||Amount available at time of surrender. Equal to the Accumulation Value, subject to Market Value Adjustment, less applicable surrender charges and 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
|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 only 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)
How much do you need today for a predictable tomorrow? Calculate now!
|LiveWell Legacy Protector
Guaranteed Minimum Death Benefit (GMDB)
|Nursing Home Confinement Waiver2||
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 Preferred Fixed Index Annuity.
TO FIND OUT MORE, CONTACT YOUR FINANCIAL PROFESSIONAL TODAY!
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.
The term financial professional is not intended to imply engagement in an advisory business in which compensation is not related to sales. Financial professionals that are insurance licensed will be paid a commission on the sale of an insurance product.
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® Preferred Fixed Index Annuity.
NOT FDIC/NCUA INSURED, NO BANK/CU GUARANTEE, NOT A DEPOSIT, NOT INSURED BY ANY FEDERAL AGENCY