The LiveWell® Preferred Fixed Index Annuity may be a good option for those seeking an extra income source during retirement.
That's because, in exchange for a premium payment, you receive a set amount of money each month, quarter, year, or whatever payment schedule you choose.
So in addition to Social Security, a possible pension, and perhaps an IRA – you'll receive a set amount you can rely on.
SIMPLE • INNOVATIVE • STRAIGHTFORWARD
Along with a guaranteed amount of retirement income, the LiveWell Preferred Fixed Index Annuity, issued by Midland National® Life Insurance Company, provides you with:
- Optional guaranteed lifetime withdrawal benefit that provides guaranteed income for life and allows you to retain control of your money (available at an additional cost, ages 45-801)
- Optional guaranteed minimum death benefit provides option for legacy protection (available at an additional cost, ages 45-801)
- Long-term growth potential for interest credits
- No loss of premium due to market downturns or fluctuations
- Choice of Surrender Charge Period—from 5, 7, or 10 years2
- Tax deferral3
The optional guaranteed withdrawal benefit (GLWB) and guaranteed minimum death benefit (GMDB) cannot be elected together, and cannot be elected on inherited IRA money. Please see product disclosure for details.
1 Issue age for the 10-year Surrender Charge Period is 45-79.
2 Certain Surrender Charge Periods may not be available. Please confirm availability with your financial professional.
3 Under current law, annuities grow tax deferred. Annuities may be subject to taxation during the income or withdrawal phase. The tax-deferred feature is not necessary for a tax-qualified plan. Neither Sammons Institutional GroupSM, Inc., Midland National®, nor any agents acting on its behalf, should be viewed as providing legal, tax, or investment advice. Please consult with and rely upon your tax and legal professionals. A 10% IRS tax penalty may apply to withdrawals prior to age 59½.