Midland National introduces a flexible new annuity product providing an enhanced death benefit
June 19, 2013 by Judy Thorpe
WEST DES MOINES, IA – June 19, 2013 – Midland National Life Insurance Company has introduced a flexible annuity solution featuring an enhanced death benefit. The MNL SecureVantageSM is the first fixed index annuity from Midland National that offers a built-in enhanced death benefit equipped with a stacking roll-up feature to help grow the death benefit value for heirs. Along with the growth potential for stock-market linked index accounts, this new fixed index annuity has a built-in Guaranteed Minimum Death Benefit (GMDB) which provides multiple growth opportunities through a combination of bonuses and a GMDB Stacking Roll-Up Credit, plus Interest Credits. This combination is designed to grow the GMDB Amount over the years to maximize the death benefit available to beneficiaries. The annuity product also provides clients the opportunity to add an optional lifetime income rider for a cost with stacking roll-up potential as well, which gives clients more flexibility.
“Clients are looking for flexibility and a way to provide a valuable death benefit for their families. Our focus was to create an annuity product with a built-in, enhanced death benefit at no additional charge, that offers the upside potential of stacking roll-up credits, ultimately increasing the payout to heirs,” stated Kevin Paulson, Vice President and Chief Distribution Officer. “This new annuity enhances our line of Midland National Vantage products, with our previous two successful annuity products that focused on accumulation with the MNL RetireVantageSM, and income with the MNL IncomeVantageSM. Now we offer even more flexibility with an enhanced death benefit, a lifetime income option, the upside growth potential from stacking, and increased withdrawal liquidity.”
The new annuity expands Midland National’s annuity product offerings and strengthens the value and solutions for those clients looking for accumulation, income, and a death benefit for heirs.
About Midland National
Midland National Life® Insurance Company is a leading provider of Fixed Index Annuities in the U.S. and is an affiliated company of Sammons Financial Group, Inc. (SFG) the parent of a group of companies affiliated under the insurance Holding Company Act, made up of several successful financial services companies offering a variety of financial and retirement products through multiple distribution channels. With production, product development, management and operations based in West Des Moines, Iowa, Sammons Annuity Group, a division of Midland National, manufactures and distributes annuity and life insurance products through over 17,000 independent agents in 49 states and the District of Columbia. For more information, contact Judy Thorpe at 515-327-5816 or jthorpe@sfgmembers.com, 4350 Westown Parkway, West Des Moines, IA 50266.
Media Contact:
Judy Thorpe
jthorpe@sfgmembers.com
515-327-5816
4350 Westown Parkway
West Des Moines, IA 50266
www.MidlandNational.com
These products are issued by Midland National Life Insurance Company, West Des Moines, IA. Product features and riders may not be available in all states. The MNL SecureVantageSM is issued on form AC/AS140A (certificate/contract), AR267A (if MNL SecureVantage Plus Rider is elected), AR153A, AR156A, AR163A-1, AR192A, AR194A, AR227A and AR245A (riders/endorsements) or appropriate state variation. The MNL IncomeVantageSM is issued on form AC/AS139A (certificate/contract), AR153A, AR156A, AR163A-1, AR192A, AR194A, AR227A, and AR245A (riders/endorsements) or appropriate state variation. The MNL RetireVantageSM is issued on form AC/AS124A (certificate/contract), AR153A, AR156A, AR159A, AR163A-1, AR192A, AR194A, AR201A, AR227A, AR244A, AR245A, AR246A, AR247A, and AR248A (riders/endorsements) or appropriate state variation.
This is a brief summary of product features. Please contact the company for more information and complete product details and limitations
