LiveWell Freedom Variable Annuity Awarded Wink’s 2018 Excellence in Annuity Innovation Award
May 6, 2019 by Midland National Life Insurance Company
Sammons Retirement Solutions first-of-its-kind Freedom Date feature recognized for being highly innovative
WEST DES MOINES, Iowa, May 06, 2019 (GLOBE NEWSWIRE) — Wink recently honored Sammons Retirement Solutions LiveWell® Freedom Variable Annuity (VA) with its 2018 Excellence in Annuity Innovation Award. This first-of-its-kind variable annuity – issued by Midland National® Life Insurance Company (Midland National) – automatically includes a patent-pending feature called the Freedom DateSM, a date set when the annuity is issued. Once investors reach their Freedom Date, they have complete access to their accumulation value while continuing to receive lifetime income payments.
The Wink analysis team consisted of eight annuity experts with 175 years of combined experience working with insurance products. “After reviewing 247 annuity contracts launched in 2018, we unanimously decided that the Sammons Retirement Solutions LiveWell Freedom VA deserved this year’s award,” said Sheryl Moore, president and CEO of Wink, Inc. “The Freedom Date is a feature we’ve never seen before in a deferred annuity, and we thought the innovation deserved recognition,” added Moore.
“When we created the LiveWell Freedom VA, we set out to provide a truly unique value for individual investors by way of independent financial professionals,” said Bill Lowe, president of Sammons Institutional GroupSM, Inc. (SIG). “Specifically, we wanted to address all three stages of retirement planning, including accumulation, guaranteed income for life and access to additional funds at their Freedom Date,” Lowe added, “The Freedom Date addresses the third stage by providing an additional sum later in retirement, when clients may need it most. That helps alleviate retirees’ concerns about outliving their savings, so longevity is something that can be celebrated.”
The LiveWell Freedom VA is distributed by Sammons Retirement Solutions and issued by Midland National. To learn more about Sammons Retirement Solutions LiveWell Freedom VA, read the press release on the product.
About Sammons Retirement Solutions
Sammons Retirement Solutions (SRS) is a wholesale division of Sammons Institutional Group (SIG) that distributes and administers simple, innovative and straightforward mutual fund IRAs and annuities that can help individual investors live well in retirement.
Headquartered in West Des Moines, Iowa, SRS works with a nationwide network of brokers/dealers and banks to provide retirement solutions that meet the needs of financial professionals and their clients.
SRS constantly reviews the market to ensure their solutions meet the ever-changing challenges faced by financial professionals and investors when planning for retirement. The goal is to offer financial professionals clear-cut choices for retirement planning.
About Wink, Inc.
Wink, Inc., a competitive intelligence and market research firm based in Des Moines, Iowa, operates in the life insurance and annuity industries. The company serves product manufacturers, distributors, regulators, consultants and financial services professionals on both a domestic and global basis. Wink, Inc. is the company that distributes resources such as Wink’s Sales & Market Report, along with the competitive intelligence tools AnnuitySpecs and LifeSpecs at LookToWink.com.
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 and your client 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 or your client can call 866-747-3421 to obtain a current prospectus for the variable annuity and its underlying investment options. Please read it carefully.
LiveWell® Freedom Variable Annuity is issued on form AS153A/ICC18-AS153A (contract) and AR354A/ICC18-AR354A, AR355A/ICC18-AR355A, AR346A.2/ICC18-AR346A.2 (riders and endorsements) or appropriate state variations by Midland National® Life Insurance Company, West Des Moines, Iowa 50266. The LiveWell® Freedom Variable Annuity is not available in New York. Variable products are distributed by Sammons Financial Network® LLC, member FINRA. Midland National® Life Insurance Company, Sammons Financial Network® LLC, member FINRA, Sammons Institutional GroupSM, Inc., and Sammons Retirement Solutions® (a division of Sammons Institutional Group) are affiliated companies.
All contract guarantees, including the Freedom Date, are based on the claims-paying ability of the issuing insurance company and do not apply to the variable subaccounts.
NOT FDIC/NCUA INSURED, MAY LOSE VALUE INCLUDING LOSS OF PRINCIPAL, NO BANK/CU GUARANTEE, NOT A DEPOSIT, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY.
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Contact: John Myers Associate Vice President Corporate Communications
