“Our MNL IndexBuilder is among our best-selling fixed index annuities for accumulation. We are pleased that by updating the product to keep pace with today’s market environment, we can help clients dramatically boost their retirement savings in the long term,” said Mike Odor, Vice President, annuity sales for Midland National. “The new bonus feature and improved flexibility will help retirees better plan for the ‘what ifs’ they face in retirement.”

MNL IndexBuilder FIAs are offered in a 10- and 14-year duration. In its new form, clients can generate up to a 19% bonus on the premium they put into MNL IndexBuilder 10 in the first 7 years of ownership. This bonus is due to a 12% base premium bonus coupled with an enhanced premium bonus of 7%. Currently, Midland National is offering an additional 1% special premium bonus on MNL IndexBuilder 14, or 2% on MNL IndexBuilder 10. This special premium bonus is considered part of the base premium bonus.

The IndexBuilder now offers an enhanced premium bonus through purchase of an optional additional benefit rider (for additional cost).²

“The greatest concern we hear from clients today is a concern of losing money in retirement. The IndexBuilder product line addresses this through a strong bonus structure that helps clients grow their financial base today,” Odor said. “It gives customers a jump start to build assets and they also benefit from increased liquidity and flexibility through an enhanced penalty-free withdrawal.³”

The optional additional benefit rider allows for an enhanced premium bonus and penalty-free withdrawals of up to 20% beginning in year three of the contract³. The rider also offers a return of premium and additional payout benefit features.

“True to its name, customers have the opportunity to choose from multiple index strategies from leading financial brands to build upon the premium they put into the annuity,” Odor said. “IndexBuilder also includes optional enhanced crediting methods for greater upside potential, and the benefits of tax deferral and full accumulation value at death. It can offer peace of mind for those with questions about their retirement readiness or simply looking to add principal protection to a portion of their assets.”

About Midland National Life Insurance Company

For more than 115 years, Midland National® Life Insurance Company has been an industry leader, crediting the company’s strength to its commitment to stability, innovation, and dedicated customer service. Midland National is accredited by the Better Business Bureau, and has earned an A+ (Superior) rating from A.M. Best, a large third-party independent reporting and rating company that rates an insurance company on the basis of the company’s financial strength, operating performance, and ability to meet its ongoing obligations to policyowners. This rating is the second highest out of 15 categories and was affirmed by A.M. Best for Midland National as part Sammons® Financial Group, Inc. on July 29, 2022.

Founded as Dakota Mutual Life Insurance Company in 1906, Midland National has protected families and preserved legacies for generations. Midland National is one of the leading insurance companies in the United States. Midland National is a member of Sammons Financial Group, a subsidiary of Sammons Enterprises, Inc. With its annuity division in West Des Moines, Iowa, and its life insurance operations in Sioux Falls, South Dakota, Midland National operates in 49 states and the District of Columbia through its 12,000 licensed sales professionals. For more information, click here.

Sammons Financial® is the marketing name for Sammons® Financial Group, Inc.’s member companies, including Midland National® Life Insurance Company. Annuities and life insurance are issued by, and product guarantees are solely the responsibility of, Midland National Life Insurance Company.

Insurance products issued by Midland National® Life Insurance Company, West Des Moines, Iowa. Product and features/options may not be available in all states or appropriate for all clients. See product materials for further details, specific features/options, and limitations by product and state. The MNL IndexBuilder® is issued on base contract form AS145A/ICC16-AS145A.MVA or appropriate state variation including all applicable endorsements and riders.

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 the accumulation value for optional benefit riders or strategy fees or charges associated with allocations to enhanced crediting methods could exceed interest credited to the accumulation value, which would result in loss of premium. They may not be appropriate for all clients. Interest credits to a fixed index annuity will not mirror the actual performance of the relevant index.

Under current law, annuities grow tax deferred. An annuity is not required for tax deferral in qualified plans. Annuities may be subject to taxation during the income or withdrawal phase. Neither Midland National, nor any financial professionals acting on its behalf, should be viewed as providing legal, tax or investment advice. Clients are advised to rely on their own qualified tax professional.

1. Premium bonus and enhanced premium bonus may vary by annuity product, premium band and surrender charge period selected and may be subject to a premium bonus and enhanced premium bonus recapture. Products that have premium bonuses may offer lower credited interest rates, lower index cap rates, lower participation rates and/or greater index margins than products that don’t offer a premium bonus. Over time and under certain scenarios the amount of the premium bonus and enhanced premium bonus may be offset by the lower credited interest rates, lower index cap rates, lower participation rates and/or greater index margins. The premium bonus and enhanced premium bonus are not recaptured in the event of death of the annuitant. No premium bonus or enhanced premium bonus recapture will occur on any penalty-free withdrawal amount under the nursing home confinement waiver or on any rider charge.

2. Rider cost is 0.95% of accumulation value at each contract anniversary during the surrender charge period. Rider charge may vary by state.

3. Available after the second contract year, enhanced penalty-free withdrawal feature offers up to a 20% maximum if no withdrawal, other than rider charges, was taken in the previous year. Withdrawals taken prior to age 59 1/2 may be subject to IRS penalties.